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One of the main goals of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India is to increase trade by 120% from $45 billion to $100 billion over the next five years.
“We are proud of our economic relationship with India, which is based on mutual respect, friendship and cooperation. We have cooperated on several projects and signed different agreements to strengthen cooperation in important industries, including manufacturing, Small and medium-sized enterprises, energy, IT, digitalization, logistics and financial services industries, etc.
“Our trade history with India confirms the importance of our partnership, especially as India is the UAE’s number one trading partner in terms of non-oil exports, accounting for 14% of our total global exports. The non-oil trade in China alone amounts to US$45 billion,” said Yousuf Ali, second vice-chairman of the Abu Dhabi Chamber of Commerce and Industry (ADCCI).
high level delegation
The Abu Dhabi Chamber of Commerce organized a meeting at its headquarters where it welcomed a high-level delegation from the Federation of Indian Chambers of Commerce and Industry (FICCI). The meeting was attended by members of the Abu Dhabi Chamber of Commerce Board of Directors including: Masood Rahma Al Masaood Al Mehairbi, Treasurer; Saeed Ghumran Al Remeithi, Deputy Treasurer, Abu Dhabi Business Women’s Council, and Nour Al Tamimi, Board Member.
The Indian delegation, headed by Dr. Gunveena Chadha, Assistant Secretary General of FICCI, included high-level representatives from FICCI, as well as representatives of more than 30 private companies from various industries such as agriculture, chemicals, electrical equipment, textiles, pharmaceuticals, food and beverages, sports Equipment, Fast Moving Consumer Goods (FMCG) etc.
Ali added, “We assure you that Abu Dhabi Chamber stands ready to provide Indian companies with all the support they need to succeed in their business. This is, of course, in line with the Chamber’s newly announced strategy of acting as a policy advocate, The role of networks and service providers.”
ideal platform
Dr Chadha said: “This conference is an ideal platform to connect Abu Dhabi and Indian companies and discover investment opportunities that will benefit both countries. We are keen to drive investment and participate in different projects and agreements under the UAE-India CEPA, which marks This is the beginning of a new era of success for both countries. I would like to commend the Abu Dhabi Chamber for its active role in attracting, supporting and promoting business development.”
The conference follows the launch of Abu Dhabi Chamber’s new three-year strategy from 2023 to 2025, which focuses on serving the Abu Dhabi economy and strengthening its position as the “voice of the private sector”. Under its new strategy, the Abu Dhabi Chamber aims to empower and enhance the competitiveness of Abu Dhabi’s private sector, making Abu Dhabi the place of choice for doing business in the MENA region by 2025. — trade arab news agency
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