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India, GCC Unveil Joint Motion Plan 2024-2028 For Enhanced Cooperation

by Index Investing News
September 9, 2024
in Financial
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India and the Gulf Cooperation Council on Monday mentioned methods of bolstering cooperation between the 2 sides as they lined a variety of subjects and adopted a Joint Motion Plan for enterprise varied actions in various areas, together with well being, commerce, safety, power, agriculture and meals safety.

Exterior Affairs Minister S Jaishankar, who co-chaired the primary India–GCC Joint Ministerial Assembly for Strategic Dialogue together with Qatar’s Prime Minister and Minister of Overseas Affairs Sheikh Mohammed bin Abdulrahman, mentioned that the GCC as a collective entity has important significance for India and constitutes the “prolonged” neighbourhood of India.

In a put up on X, Jaishankar mentioned he underlined 4 key pillars of partnership – Folks, Prosperity, Progress and Safety.

“Our people-to-people ties are the bedrock of our relationship. Near 9 million Indians work and reside amongst you, performing as a residing bridge between us. Their contributions to your financial progress are broadly recognised. We thanks for making certain their welfare and luxury,” Jaishankar mentioned in his opening remarks.

He mentioned the interactions between two sides are key to driving prosperity.

“Commerce has not solely expanded in quantity but additionally in range, encompassing a variety of products and companies that gas our economies and create jobs. It is crucial that we expect not only for immediately. The duty earlier than us is to spend money on one another’s future and assist one another’s continued prosperity,” the minister mentioned, as he urged the early conclusion of the India-GCC Free Commerce Settlement.

Jaishankar recognized the GCC as a cornerstone of worldwide power provide, saying India is likely one of the world’s largest and fastest-growing markets.

“A lot of the longer term demand goes to return from us. Our deeper collaboration will assist in stabilising markets, driving innovation and enhancing power safety,” he added.

“Our partnership within the areas of renewables, expertise and innovation, well being, house, and schooling may also assist realise our respective nationwide objectives,: he mentioned.

He mentioned progress and prosperity require its concomitant— safety— to be stronger. “The Gulf area occupies a central place in up to date geopolitics. In a world polarised by battle and stress, we share a dedication to world peace, safety, and stability,” he mentioned.

It was the primary assembly between India and the GCC on the Overseas Ministers stage and was attended by Overseas Ministers of all of the GCC nations and Secretary Common of the GCC Jasem Mohamed Albudaiwi.

The leaders undertook an in depth assessment of India-GCC ties and appreciated the upward trajectory in ties witnessed in the previous couple of years. They emphasised the significance of enhancing cooperation throughout a variety of areas.

The assembly adopted a Joint Motion Plan 2024-2028 for enterprise varied joint actions in various areas together with well being, commerce, safety, agriculture and meals safety, transportation, power, and tradition, amongst others. It was determined that extra areas of cooperation might be included within the Joint Motion Plan, based mostly on mutual consensus, in a while.

The leaders additionally addressed worldwide and regional problems with widespread curiosity.

The GCC is an influential grouping, comprising the United Arab Emirates, Bahrain, Saudi Arabia, Oman, Qatar and Kuwait. The whole quantity of India’s commerce with GCC nations stood at USD 184.46 billion within the monetary 12 months 2022-23.

Jaishankar mentioned it was a fantastic pleasure for him to take part within the first India-GCC Ministerial Assembly for Strategic Dialogue and added that the assembly isn’t just an event to mirror on achievements however a possibility to chart an bold and far-reaching course for the longer term.

“The connection between India and the GCC is rooted in a wealthy tapestry of historical past, tradition, and shared values. These bonds have grown stronger with time, evolving right into a partnership that spans economics, power, defence, expertise, schooling, people-to-people ties and past,” he mentioned.

Jaishankar mentioned that the GCC-India relationship is constructed on a basis of belief, mutual respect, and a shared imaginative and prescient for the longer term. “It has a bigger objective of advancing progress in a world that’s characterised by technological developments, altering geopolitics, shifts within the world economic system and the pressing want to handle environmental sustainability,” he mentioned.

Underlining that generally it’s adversity that brings out the true significance of friendships, the minister mentioned that the pandemic underlined how related we’re to one another for well being safety, meals safety and maritime safety.

“Equally, the calls for of AI, of electrical mobility and of inexperienced development spotlight the significance of sharing human assets. Battle and tensions carry out the significance of cooperating on connectivity. In a world transferring in the direction of multipolarity, we might be mutually supportive of one another’s aspirations,” he mentioned.

“Allow us to use this platform to deepen our ties, discover new avenues of cooperation, and construct a collaborative future,” he mentioned.

Earlier within the day, Jaishankar held separate bilateral conferences along with his counterparts from Qatar, Saudi Arabia, Oman, Kuwait and Bahrain on the margins of the India-GCC Ministerial assembly.





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