UAE Ambassador to India Ahmed Albanna also said that the two countries are moving towards consolidating a Comprehensive Economic Partnership Agreement by the first half of next year, which is expected to give a major boost to trade and investment ties.
Talking to media persons, he referred to the newly formed grouping of India, the US, the United Arab Emirates and Israel and said that preparations are underway for a ministerial meeting between the four allies. He said the foreign ministers of the four countries would soon announce the areas of cooperation of the grouping.
Albanna said it is an economic organization with a focus on trade. He supported the resumption of normal air services between India and the United Arab Emirates and said that the current number of passengers under the ‘air bubble’ arrangement is only 30 percent of the normal days.
He said that normalization of air services will help in reducing the rising prices of tickets.
Asked about India’s concerns over rising crude oil prices, he said the Organization of the Petroleum Exporting Countries (OPEC) and other exporting countries were responsible for controlling the rise in prices.