Monday, February 26, 2024

The UAE and India are exploring trade and investment opportunities for a comprehensive economic partnership agreement at the Gujarat summit.


His Excellency Dr. Thani bin Ahmad Al Zayoudi, Minister of State for Foreign Affairs, led a high-level Emirati economic delegation to participate in the Gujarat Global Summit 2024. During the summit, the Prime Minister of the Republic of India, Hon'ble Narendra Modi, inaugurated the UAE Pavilion, which saw the arrival of business leaders and sector representatives. The two countries will discuss trade and investment opportunities between the UAE and India and ways to enhance them and take relations to a new level under the umbrella of the Comprehensive Economic Partnership Agreement, which will complete its second year next May.

His Excellency Dr. Thani Al Zayudi said, “The Head of State, Sheikh Mohammed bin Zayed Al Nahyan, may God protect him, is a testament to the importance of the bilateral relationship between the two countries at this summit. Brilliant leadership. In this context, the UAE's high-level participation in the Gujarat Global Summit confirms the strength of UAE relations.” “It reflects the UAE's commitment to joint work to develop bilateral economic ties.”

He added: “With the Gujarat Global Summit being an important platform for discussions, communication and exchange of knowledge and experiences, both allies continue to work together to explore the limitless opportunities provided by the UAE-India Comprehensive Economic Partnership Agreement. The state of Gujarat epitomizes these opportunities as it is a major trade gateway and a destination for Emirati products entering India. “The key to finding favorable opportunities for Emirati investments. He held talks with His Excellency Piyush Goyal. The Minister of Commerce and Industry of India, the two Ministers discussed the progress of joint work and ways to enhance joint economic cooperation in trade or investment aspects. He also met the Chief Minister of Gujarat State, Bhupendrabai Patel. Investment flows They reviewed ways to stimulate and agreed to continue exploring opportunities in areas of common interest.

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On the sidelines of the Gujarat Global Summit, His Excellency Dr. Thani Al-Siodi also met His Excellency Riyad Mazour, Minister of Industry and Trade of the Kingdom of Morocco, and they discussed ways to stimulate trade and investment flows between the two fraternities. Countries. The Ministry of Economy, in collaboration with the UAE Embassy in New Delhi and the Confederation of Indian Industry, organized the UAE-India Business Forum on the sidelines of the 2024 Gujarat Global Summit, which was attended by several ministers and officials. Two countries.

During the forum, His Excellency Thani Al-Jayoti delivered an opening speech in which he highlighted the benefits and achievements of the Comprehensive Economic Partnership Agreement between the two countries, and urged business leaders from both sides to continue exploring joint opportunities. Broad participation of business sector of both countries. During the forum, the new website of the UAE-India Comprehensive Economic Partnership Agreement Council was launched, a platform created to stimulate collaboration between micro, small and medium enterprises and startups in both countries. The website will be supported by roadshows organized in association with national and regional industry associations across India covering 11 states in 17 separate events. On the launch of the website of the Comprehensive Economic Partnership Agreement Council, His Excellency Thani Al-Jayoti said: “The launch of the website of the Comprehensive Economic Partnership Agreement Council represents the latest step in the UAE and India's joint efforts to promote cooperation. Small-enterprises are slated to play a role in the partnership between the private sector and the business community on both sides, with “SMEs playing an important role in opening up a new phase of development and mutual opportunities.”

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During the Gujarat Global Summit, His Excellency Al-Jayoti witnessed the launch of a new report by the Confederation of Indian Industries' India-UAE Start-up Initiative, titled “Unlocking Opportunities: The Start-up Ecosystem in India and the UAE,” under the umbrella of the Comprehensive Economic Partnership Agreement. Provides an important guide for entrepreneurs and a road map for progress. The state of Gujarat is one of India's leading economic and industrial hubs, contributing 8% to the country's GDP. It is also a key destination for strategic investments from the UAE, which include joint ventures in sectors such as logistics, manufacturing and agriculture. It has. In 2023, for example, DP World signed a $500 million deal to build and operate a new container terminal in Kandla in the state, and the first of the UAE's $2 billion food malls will also be built in the state.

Bill Dittman
Bill Dittman
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