Juma Mohammed Al Kait, Assistant Under-Secretary of Foreign Trade Affairs, said UAE and India together aspire for new economic era. The UAE is marching towards post-oil period supported by innovation, knowledge and entrepreneurship; meanwhile India is working on the establishment of a local common market, demonetisation and activating the economic roles of women, among others….reports Asian Lite News
The UAE Ministry of Economy plans to reaffirm its commitment to supporting the diversification and reinforcement of partnerships between the UAE and India as both the countries undergo new phases of economic growth, says the ministry’s Assistant Under-Secretary of Foreign Trade Affairs, Juma Mohammed Al Kait.
While delivering his keynote address at the UAE – India Economic Forum 2017, UIEF in Dubai, Al Kait said that the UAE and India are aspiring for a new economic era.
“The UAE is marching towards post-oil period supported by innovation, knowledge and entrepreneurship; meanwhile India is working on the establishment of a local common market, demonetisation and activating the economic roles of women, among others.”
“India and UAE have built solid foundations as economic partners. A number of commercial and economic agreements between both the countries cover economic, trade and technical cooperation; avoidance of double taxation; and protection and promotion of investments. In the aviation sector, over 1,000 direct flights connect the UAE to the main cities of India every week,” he added.
According to Al Kait, the forum looks forward to further partnerships between both the countries in sectors like industry, travel and tourism, agriculture, renewable energy, transport, education, health, technology, water, space and small and medium sized enterprises, SMEs.
Abu Dhabi Ports
Abu Dhabi Ports, the master developer, operator and manager of commercial and community ports within the emirate of Abu Dhabi, as well as Fujairah Terminals and Khalifa Industrial Zone Abu Dhabi KIZAD, has showcased opportunities available for Indian businesses and investors during the third edition of the UAE-India Economic Forum, UIEF, which kicked-off today in Dubai.
The forum seeks to discuss and evaluate business opportunities in the UAE and India, with a special focus on critical sectors such as infrastructure, tourism, renewable energy and banking.
Commenting on the strong economic ties between the UAE and India, which is considered to be a strategic partner and one of the largest trading partners of the UAE for decades, Captain Mohamed Juma Al Shamisi, CEO of Abu Dhabi Ports said, “Abu Dhabi Ports’ strategic location in the Gulf makes it an ideal gateway for Indian importers and exporters and business in general to the rapidly growing markets of the Middle East, but also a transhipment hub for onward distribution to Europe and Africa.”
“Abu Dhabi Ports is playing a crucial role in opening the doors to a new trade future with India, especially through Khalifa Port Free Trade Zone, KPFTZ, the largest free trade zone in the region but also a next-generation platform for trade, logistics and manufacturing. We are proud to say we can provide Indian business with the convenience of reaching more than 4.5 billion consumers within four of the world’s time zones,” he added.
During the forum and following the keynote address by Juma Mohammed AlKait, Assistant Under-Secretary Foreign Trade Affairs at the Ministry of Economy, several public and private business leaders took the floor to shed light on how the UAE-India investments are contributing to supporting the two countries’ long-term bilateral relations.
Among the speakers, Adel Al Wahedi, Chief Financial Officer at Abu Dhabi Ports, highlighted the importance of several recent milestones such as the new agreement signed with Cosco Shipping Ports, CSP, to develop the largest container freight station in the region to enhance Abu Dhabi Port’s value proposition.
Abu Dhabi Ports also provided a detailed overview of the offering at KIZAD and Khalifa Port Free Trade Zone as well as insights into future projects such as the creation of 75 pre-built light industrial units and 35 free zone pre-built warehouses, occupying a total area of approximately 17,000 square metres.
Both Khalifa Port Free Trade Zone and KIZAD, which has so far attracted more than 150 investors and over AED60 billion, offer investors outstanding access to expert knowledge, consumers and markets through the sea, air, road and future rail as well dedicated investor set-up support and services.