Tuesday, Dec 24, 2013
Abu Dhabi: The outgoing Indian envoy to the UAE, who last week received an award from President His Highness Shaikh Khalifa Bin Zayed Al Nahyan for bolstering bilateral relations, said the latest agreement between the two nations had taken relations to a new high.
“Shaikh Zayed [Bin Sultan Al Nahyan, the UAE founder president] and former Indian Prime Minister Indira Gandhi had a very good relationship [in the 1970s and 80s]. I wanted to re-establish such a relationship between the leaders of both nations,” M.K Lokesh, former Indian Ambassador to the UAE, told Gulf News.
He received the Order of Independence (First Class) bestowed by Shaikh Khalifa in recognition of his efforts during his tenure to bolster friendly and cooperative relations between the UAE and India.
Shaikh Abdullah Bin Zayed Al Nahyan, Minister of Foreign Affairs, presented the award to Lokesh at his office.
Lokesh said a crucial investment protection agreement had taken relations to a new high.
India and the UAE signed the Bilateral Investment Promotion and Protection Agreement (BIPPA) on December 12 during Shaikh Abdullah’s official visit to India.
He said the BIPPA had been a major issue in bilateral relations in the past.
The UAE was concerned about its investments in India, especially after major companies such as etisalat were dragged into legal disputes when the Indian Supreme Court cancelled telecom licences related to alleged corruption in 2G spectrum allocation, Lokesh said.
He spoke to Gulf News before leaving the UAE last week after three years and eight months of service as the Indian Ambassador.
He has been appointed the Indian Ambassador to Switzerland.
T.P Seetharam, the new Indian Ambassador to the UAE, is expected to take charge soon.
Lokesh said with the BIPPA in place investments between both nations are expected to increase.
While both nations are each other’s largest trading partners with trade totalling more than $75 billion (Dh275.25 billion), investments have not kept pace.
Lokesh said he was sceptical when he was first assigned to the UAE but he changed his views soon after meeting the UAE’s leaders.
“They always emphasised the UAE’s important partnership with India”.
In 2010, the then Indian President Pratibha Patil’s visit to the UAE was a milestone in bilateral relationships.
Vibrant business community
Lokesh is happy that during his tenure India and the UAE were able to schedule a joint commission meeting after a gap of six years. The UAE-India High Level Task Force on Investments was also set up in February. In the first Task Force meeting, the UAE promised the allocation of $2 billion for investments in infrastructure projects in India.
A deal between Etihad Airways and India’s Jet Airways, with the former to acquire a 24 per cent stake in the latter for a $339 million deal, will gradually add about 30,00 seats between India and the UAE, Lokesh said.
The Indian community in the UAE also contributes a lot to bilateral relations, he said.
A vibrant business community, professionals and a large number of blue-collar workers have helped build the reputation of a law-abiding and peace-loving community, Lokesh said.
By Binsal Abdul Kader Staff Reporter
Gulf News 2013. All rights reserved.
