FCCI noted the vast presence of Indian businesses in UAE Chambers of Commerce enhances the importance of the UAE’s strategic position in promoting the Indian international trade movement…reports Asian Lite News
Humaid Mohamed Ben Salem, Secretary-General of the Federation of UAE Chambers of Commerce and Industry (FCCI), said that the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and the Republic of India has given a strong impetus to the relations between the private sectors in the two countries.
In statements to the Emirates News Agency (WAM), Ben Salem stressed the FCCI continuous efforts to support the development and enhance the volume of trade between the UAE and India, to bolster their business relations.
He noted the presence of more than 205,000 memberships of Indian companies and business owners in the UAE Chambers of Commerce, which enhances the importance of the UAE’s strategic position in promoting the Indian international trade movement.
He added, “With the CEPA entering its second year of implementation, the activities and events being held in and organised by the UAE and Indian private sectors reached more than 140 events in 2023, while January 2024 witnessed more than 25 joint events, including specialised trade exhibitions, conferences, forums, bilateral meetings and workshops.”
The Secretary-General of FCCI praised the distinguished relations between the UAE and Indian private sectors, as well as the levels of distinguished cooperation between them across various levels, especially after the signing of the UAE-India CEPA.
He highlighted the keenness of the Federation of UAE Chambers, as a representative of the private sector in the UAE, to support efforts aimed at boosting the volume of investments and trade exchanges, praising the economic standing of the Republic of India, which is the fifth-largest economy in the world, in addition to its position as the third-largest ecosystem in the field of financial technology (fintech).
Ben Salem explained that the Federation of UAE Chambers looks forward to signing a Memorandum of Understanding with the National Investment Promotion and Facilitation Agency (National Agency) in the near future, which will contribute to enabling and developing the opportunities and areas of bilateral work available in the UAE and Indian markets.
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