India, UAE sign 14 pacts

India and the UAE put in place a strategic partnership covering defence, energy and security as the two countries signed 14 agreements during the visit by UAE Crown Prince Sheikh Mohammed bin Zayed Al Nahyan as chief guest of the Republic Day celebrations. A strategic partnership agreement, which will serve as the framework for the relationship, was the centre piece of the day's discussions.
An important agreement will allow Abu Dhabi National Oil Company (ADNOC) to fill 6 million barrels of oil in India's strategic reserve facility in Mangaluru. The other part of the storage facility is being filled by Iran. Surprisingly, an anticipated MoU on $75 billion investment intent into India's national infrastructure fund by the UAE was not signed, indicating there were still gaps in the negotiations.

Sources said four executive directors of Abu Dhabi Investment Authority would visit India in February to finalise the sectors in which they would invest.

The two countries also inked pacts to enable cooperation in the areas of cyberspace, armaments, defence industries and transfer of technology.

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