Abu Dhabi Current Affairs

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Abu Dhabi Crown Prince to be Chief Guest on 2017 Republic Day

The crown prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan will be the chief guest for the 68th Republic Day celebrations on 26 January 2017.

In this regard, announcement was made the by Union Ministry of External Affairs (MEA) Spokesman Vikas Swarup in New Delhi after the crown prince accepted invitation.

Earlier Chief guests of Republic Day parades: 2016- Francois Hollande (French President), 2015- Barack Obama (US President), 2014- Shinzo Abe (Japanese Prime Minister), 2013- Jigme Khesar Namgyel Wangchuck (King of Bhutan), 2012- Yingluck Shinawatra (Then Prime Minister of Thailand), 2011- Susilo Bambang Yudhoyono (Then President of Indonesia).

It should be noted France holds distinction of being the guest of honour for the maximum five times of Indian Republic Day parade followed by Bhutan (four times); Mauritius and Russia (three times each).

India-UAE Relations

  • India-UAE Relations deeply rooted in history and strategic cooperation which is driven by mutual aspirations of both countries.
  • UAE is lynch-pin of the economic, defence and strategic strands of the India’s coordinated strategy to outreach west Asia.
  • UAE is India’s third largest trading partner after China and the United States. Bilateral trade between UAE and India is around 60 billion dollars.
  • Besides, there are also more than 2.6 million Indians living in the UAE and their annual remittance is estimated to be around 14 billion dollars.

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Reliance Defence Ltd inks MoU wit Abu Dhabi Ship Building

Reliance Defence Ltd (RDL) led by Anil Ambani has inked memorandum of understanding (MoU) with Abu Dhabi Ship Building (ADSB) to set up a strategic partnership for construction of naval ships.

The partnership will include construction of frigates and destroyers to address the demands of Gulf Cooperation Council (GCC) over the next 10 years.

Both signatory parties are also going to incorporate a joint venture (JV) company which will encompass both construction of new naval vessels as well as repair, maintenance, overhaul and refit opportunities of existing commercial and naval vessels in the Gulf region.

In this proposed JV Company, RDL will be the majority partner with 51 per cent stake and ADSB will have 49 per cent of stake.

Background

The MoU signing between RDL and ADSB follows the joint statement issued during Prime Minister Narendra Modi’s visit to United Arab Emirates (UAE) in August 2015 which had highlighted cooperation and manufacture of defence equipment in India.

About Abu Dhabi Ship Building

ADSB is a major regional provider of construction, repair and refit services for naval, military and commercial vessels in the GCC region.

It was established in 1996 and is headquartered in Abu Dhabi. Originally, it was established to support the repairs and refits of UAE Navy vessels.

Currently, it has market portfolio of different projects worth 3 billion UAE Dirhams. Its stake is jointly owned by Mubadala (40 per cent stake), Abu Dhabi Government (10 per cent stake) while the remaining 50 per cent is publicly traded on UAE’s stock exchange.

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