H.E. Abdulla bin Touq Al Marri, the UAE Minister of Economy, recently held a meeting with Shri Piyush Goyal, the Indian Minister of Commerce, Industry, Consumer Affairs, Food & Public Distribution and Textiles, as well as Shri G. Kishan Reddy, the Minister of Tourism and Culture of India. The purpose of the meeting was to discuss frameworks for enhancing economic and trade cooperation between the two nations. H.E. Bin Touq emphasized that the UAE-India relations have transformed into an exemplary model of bilateral cooperation and a fruitful partnership. The focus remains on fostering sustainable development, economic well-being, and the overall prosperity of the people in both countries.

Trade relations between UAE and India

India holds a significant position as one of the UAE’s crucial strategic partners on a global scale, offering promising investment and growth opportunities, primarily due to its unique location within the Asian continent. In 2022, India emerged as the UAE’s second-largest trade partner, accounting for 8 percent of the UAE’s total global trade. Similarly, the UAE stands as India’s third largest trade partner worldwide and holds the first position in the Arab world, as of 2022. Notably, India became the first country to sign a comprehensive economic partnership agreement with the UAE in February 2022, with the agreement being supported by H.H. Sheikh Mohamed bin Zayed Al Nahyan, the President of the UAE, and Narendra Modi, the Prime Minister of India. This agreement aligns with the UAE’s strategic vision, known as the ‘Projects of the 50,’ which aims to establish comprehensive economic partnerships with key trade partners.

UAE-India Business forum

In addition to this, the Sharjah Chamber of Commerce and Industry (SCCI) had taken a momentous step towards enhancing economic relations between the Republic of India and the UAE by initiating a landmark trade mission. The trade mission began with the successful UAE-India Business Forum held in Mumbai, which is India’s thriving commercial hub. Organized by the SCCI, the forum served as a platform to convene prominent business leaders, government officials, and industry experts from both Sharjah and Mumbai, fostering valuable discussions and opportunities for collaboration.

As a part f SCCI visit to India, the delegation will proceed to New Delhi for the formation of a business forum, aiming to unite mission members with officials and prominent figures from local chambers of commerce and industry. This visit is scheduled until June 2.