Wednesday, May 17, 2017

Dubai: The UAE’s Ministry of Economy discussed ways to boost economic and trade ties with India during a meeting with an Indian delegation of businessmen and private sector representatives.

Sultan Al Mansouri, the UAE’s Minister of Economy, also discussed at the meeting important areas for establishing new partnerships between the two countries to help their respective development plans.

He pointed to investment opportunities in the UAE as the country continues its development projects in infrastructure and transport. Al Mansouri also talked about how the upcoming Expo 2020 in Dubai will open more opportunities for Indian companies to enhance their presence in the local market.

Bilateral trade

In a statement on Wednesday, the Ministry of Economy said the two parties stressed their goals to enhance the volume of bilateral trade and investments.

Meanwhile, a spokesperson from the Indian delegation said the UAE is among the most attractive countries for investment for Indian companies, highlighting opportunities for establishing more joint ventures between the two countries.

In 2016, non-oil bilateral trade between the UAE and India reached Dh36 billion, with over 4,300 Indian companies officially registered in the Emirates. The UAE’s total investments in the Indian market estimated at $6 billion (Dh22 billion), while Indian investments in the UAE are estimated at over $6 billion.

Staff Report

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