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UAE and Indian industries discuss partnership

UAE-IndiaAbu Dhabi, (NNN-WAM) : Ibrahim Al Mahmoud, First Deputy of the Chairman of the Abu Dhabi Chamber of Commerce and Industry, has called for expanding of economic and investment co-operation between UAE and Indian companies through enlarging scope of co-operation to include new sectors of mutual interest.

This came during the session between officials from the Abu Dhabi Chamber of Commerce and Industry and the Confederation of Indian Industries, CII, at the headquarters of the Abu Dhabi Chamber.

During the meeting, which was attended by Navdeep Singh Suri, Indian Ambassador to the UAE, and Shobana Kamineni, President of CII, Al Mahmoud stressed that the historic visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to India last January directly contributed to the improvement of economic and investment co-operation.

He noted that during the visit, the parties had agreed to increase trade between both countries and promote partnerships in the energy sector, as well as joint co-operation in technology and space science.

Al Mahmoud added that the number of UAE companies investing in Indian markets rose to 30 companies, including the Abu Dhabi Investment Authority, the Abu Dhabi National Oil Company, ADNOC, the National Petroleum Construction Company, Abu Dhabi Investment House, Etihad Airways, the Emirates Telecommunications Corporation, the Abu Dhabi National Energy Company PJSC and the Borouge Company.

Navdeep Suri stated that commercial and investment relations between the UAE and India witnessed positive developments after the important visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan to India last January, as India became the UAE’s second largest trade partner.

He added that the visit of the CII delegation, which includes representatives of more than 40 Indian industrial companies and heads of more than 50 commercial and industrial companies working in Abu Dhabi, is considered extremely important, as it includes pioneers of Indian industries who aim to promote their partnerships with the UAE companies and companies working in the UAE.

Ambassador Suri declared that a CII office will be opened in the UAE within a few months, under the framework of its desire to enlarge the scope of industrial co-operation and establish industrial projects and partnerships between both countries.

Trade between the UAE and India exceeded US$60 billion at the end of last year, while UAE companies investing in India exceeded 30 companies.

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