UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visits India
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    Reports noted that UAE Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visited India on May 17-18, 2012 and discussed important bilateral issues with the Indian leadership. During his meeting with the External Affairs Minister S.M. Krishna, both the leaders decided to set up a joint task force to further explore opportunities in investments. The task force will be headed by Commerce Minister Anand Sharma and Abu Dhabi Investment Authority Managing Director Sheikh Hamad bin Zayed al Nahyan. Krishna said the UAE leadership was keen to address the issue of investments so as to bring them on par with the multi-faceted relationship between the two countries. He also said that he had discussed about the third India-Arab Economic Conclave to be hosted in Abu Dhabi on May 21-22, 2012 and the proposed road show on investments in Abu Dhabi and Dubai so as to exchange information and clarify issues related to the investment climate in India. 1

    Both the leaders also discussed about India’s energy needs and the need to increase import more oil from the UAE. Krishna stated that UAE is a dependable oil supplier for India. The UAE minister assured India that his country would like to see more energy exports to India. He stated that he "would like to see more UAE energy exports to India especially when it comes to crude oil. There are talks between our officials looking at these avenues and even further. We would like to see UAE presence in downstream investments in India, including petrochemicals." 2