Dubai-India business ties just got better

The Dubai Chamber revealed plans to open a new representative office in Mumbai later this year, with the aim of assisting UAE-based companies that want to enter the Indian market.

The Dubai Chamber of Commerce and Industry recently concluded a successful trade mission to India, which was organised to facilitate economic cooperation and explore trade and investment opportunities in the country.
The trade mission, part of the Dubai Chamber's Global Business Forum roadshow, was joined by dignitaries, officials and businessmen, who visited Mumbai and Ahmedabad, and met with key stakeholders from the cities' public and private sectors.
During the visit, plans were revealed by the Dubai Chamber to open a new representative office in Mumbai later this year, with the aim of boosting bilateral trade and assisting UAE-based companies that want to enter the Indian market. The office will also work to promote Dubai as an attractive trade and investment hub, and attract Indian companies that plan to expand to Dubai and access markets in the GCC and Africa.
High-level meetings and sessions were attended by Devendra Fadnavis, Chief Minister of Maharashtra; Vijay Rupani, Chief Minister of Gujarat; Ahmed Abdulrahman Al Banna, UAE Ambassador to India; as well as Dubai Chamber officials and representatives from India's private sector. Fadnavis lauded the Dubai Chamber's efforts to strengthen trade relations with India over the years, noting that Dubai is an ideal partner as the emirate shares historic trade and cultural ties with India. Addressing delegates in Mumbai, Majid Saif Al Ghurair, chairman of the Dubai Chamber, highlighted the importance of the roadshow as it provided an ideal platform for UAE companies to learn about India's business environment, while it also enabled the Dubai Chamber to showcase the various advantages that the emirate can offer Indian businesses. He revealed that the number of Indian companies registered with the Dubai Chamber now exceeds 36,000. He added that Indian companies accounted for 29 per cent of all new members in 2016, and noted the important contribution of Indian businesses to the emirate's economy.
Al Ghurair also stated that the trade mission to India helped build on progress that was achieved following the recent visit to India of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. During the visit, 14 strategic agreements were signed between the two countries that aim to boost cooperation in a wide range of sectors and areas. He also pointed out that India remains Dubai's second-largest trading partner in 2016 with Dh94 billion in non-oil bilateral trade, adding that the agriculture, pharmaceuticals and textile industries accounted for a large share of this volume.
- business@khaleejtimes.com