More production from west to calm oil markets, stable prices: Hardeep Puri
Puri was addressing the 12th Public Sector Enterprises (PSE) Summit, organised by Confederation of Indian Industry (CII) in New Delhi.
External Affairs Minister Sushma Swaraj will pay a visit to the United Arab Emirates on 3-4 December for co-chairing the 12th session of the India-UAE joint commission meeting for economic and technical cooperation with her UAE counterpart Sheikh Abdullah bin Zayed Al Nahyan.
During her visit, she would also be calling on the Crown Prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan to discuss bilateral issues as well as global developments.
Along with the UAE Foreign Minister, Swaraj would be inaugurating a Gandhi-Zayed Digital Museum in Abu Dhabi to mark the celebrations of 150 years of Mahatma Gandhi’s birth and centenary celebrations of the birth of Shaikh Zayed, founder of the modern UAE. She would also interact with the Indian community in Abu Dhabi, the External Affairs Ministry said.
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The volatility in the oil market is expected to figure prominently during her talks with UAE leaders. Ahead of her visit, UAE Ambassador to India Ahmed Al Banna said his country would continue to cover any shortage of oil that India might be faced with after a 180-day sanctions waiver by the US on Iranian oil exports expires.
India and the UAE enjoy strong bonds of friendship, which are founded on millennia-old cultural, religious and economic interaction between the two regions. In the recent past, with the exchange of visits at the highest-level, the relationship has been elevated to a Comprehensive Strategic Partnership.
With nearly US$ 50 billion bilateral trade, the two countries are one of the largest trade partners for each other and have made robust investments bilaterally. The UAE is the sixth-largest source of India’s oil imports and hosts a 3.3 million-strong Indian community.
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