New Delhi, June 30: Marking a significant step in their bilateral ties, India and the United Arab Emirates (UAE) today decided to work on a long term, broad strategic dialogue and set up a joint business council to increase bilateral trade to five billion dollars in the near future. During intensive meetings visiting Chief of Staff of the UAE armed forces Sheikh Mohammad bib Zayed al Nahyan had with Deputy Prime Minister L K Advani and External Affairs Minister Yashwant Sinha, the two sides discussed cooperation in security and defence areas including in counter-terrorism.
It was decided that the strategic dialogue would be an annual exercise and the two sides would maintain the frequency of high level contacts.
Security related matters with emphasis on revising mechanisms to counter financial networks involved in funding terrorists came up during al Nahyan's talks with Advani.
During the 40 minute meeting at Advani's residence, al Nahyan, third son of UAE President Sheikh Zayed bin Sultan al Nahyan, and the Indian side exchanged views on enhancing cooperation in counter terrorism, sources said.
New Delhi has been concerned over reports of Dubai emerging as one of the sought after centres from where funds could be routed to terrorist outfits. Some of the most wanted underworld kingpins by India have also reportedly taken refuge in the UAE with India finding it difficult to secure their deportation or extradition.
The two sides are also understood to have discussed the issue of strengthening the existing treaty on mutual legal assistance.
Bureau Report