UAE participates in Global Investors Summit in India
The UAE has participated in the opening of the Global Investors Summit, which kicked off just recently in Indore City, the capital of Madhya Pradesh in central India. His Excellency (H.E.) Abdullah Bin Ahmed Al Saleh, Undersecretary for Foreign Trade and Industry, Ministry of Economy, led the UAE delegation with the existence of Dr. Ahmed Abdul Rahman Al-Banna, UAE's Ambassador to India. The event was also attended by government delegations from the state of Madhya Pradesh, including top-level authorities and guests from organizations, government departments and representatives from the economic sector.
The summit is being held with a series of seminars and panel discussions, looking for ways to promote joint investments in farming and food industries, technological development and clean energy cars, pharmaceuticals, textile, tourism and energy
During his speech at the opening session, H.E. Al Saleh highlighted the strong bilateral ties between UAE and India, the latter being UAE's very first trade partner. He noted that the volume of trade in between the two nations has actually totaled up to USD 50 billion for the 2015-2016 duration which is expected to reach record levels.
H.E. Al Saleh said that foreign trade with India represent about 9.8 per cent of the UAE's total non-oil foreign trade. India is the biggest importer of products from the UAE, with items from the country being exported to the subcontinent country hitting about 14.9 per cent of the UAE's total exports and 8.7 percent for re-exports, making India the 2nd largest export market for the nation.
The UAE is also the largest Arab financier in India, with total investments going beyond USD 10 billion, in addition to USD 4 billion worth of direct investments, which is equivalent of 85 percent of the total Arab investments in India.
H.E. Al Saleh likewise highlighted that the exceptional bilateral cooperation in between UAE and India in aviation creates a strong push for trade and tourist exchange as the variety of weekly flights between the two nations have actually gone beyond the 1,000 weekly flights.
The UAE delegation consists of H.E. Jamal Saif Al Jarwan, Secretary General of the UAE International Investors Council; Mana Mohammed Saeed Al Mulla, CEO of Khalifa Industrial Zone (Kizad); Sharif Habib al-Awadhi, Director-General of the Fujairah Free Zone Authority; Fatima Houdrom Al Ghafli, Member of Board of Directors of the RAK Chamber of Commerce and Industry; Ayda Khouri, Director of the International Economic Promotion in the DED in Abu Dhabi; Tony Whitby, Air Arabia's Director of Network, Strategy and International Affairs; Mr. Mohamed Kamel Al Muaini, Founder of the International Relations & Cultural Diplomacy; Ahmad Sultan Al-Falahi, the Trade Attache for the UAE Embassy in India; Mohammed Nasser Hamdan Al Zaabi, Director of Trade Promotion and Investment Department at the Ministry.
