It is no little achievement that in less than half-a-decade, Indian investment in Dubai has more than doubled. Currently standing at approximately $11 billion, India-UAE bilateral trade is edging ever closer to the current UAE-China mark of $14.2 billion, according to a UAE daily."Going by the new economic pacts and agreements being signed during the current tour, there is no reason for India not to emerge as UAE's most serious trading partner, as implied by Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai", wrote the Dubai-based 'Khaleej Times' in its editorial today.The English language newspaper said that Both countries have undergone immense and pretty successful economic and social transformation in the recent past, especially during the last decade or so. While the UAE's visionary leadership has miraculously transformed the desert stop-over into one of the most vibrant business/investment/ tourism hubs in the world, those at the top in India have turned around a large sea of poverty and inequality into one of the most pulsating economies around. Therefore, it is only logical for the two to join hands for further leaps forward in which the technological achievements of one can be augmented by the technical know-how of the other in a marriage of convenience of sorts.The paper went on saying that As part and parcel of modern day realpolitik, economic interests dictate political alliances. As such, India and the UAE rightly attract each other like opposite-pole magnets."Also, it is important not to lose sight of the fact that the present state of affairs owes in no small manner to the imaginative leadership on both sides. The world, and the Asian region in particular, has seen many a chance at such initiatives go fruitlessly begging. And as international political-economy shows time and again, bilateral investment and trade agreements, should they take off in the right manner, have the potential to take economic as well as political cooperation to higher levels. And judging by how things are going, the India-UAE future is bright, indeed", the paper concluded. Source WAM
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