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India and UAE talk business proposals before Prime Minister’s visit to UAE next week

The United Arab Emirates would like to transform itself into a Knowledge based Economy and expressed interest in forging strong economic ties with India known for its very strong service sector. India with strong presence in health care, technology and higher education sectors should capitalize of the UAE’ strengths and make the Gulf Kingdom as its major Hub to expand Indian business interests in the region as well as in Eastern Africa

The UAE delegation stressed the point that it no longer wishes to continue as an Oil-based economy but is very rapidly moving on the path of becoming knowledge based economy. India with its very strong services sector as well as SME, healthcare, technology, education sectors, will be able to capitalize on the UAE’s strength as a hub to further expand India’s business interest in the region as well as Africa.

India responded to UAE’s overtures in this regard and commerce minister Suresh Prabhu told the visiting UAE delegation that both the countries could formulate a comprehensive economic partnership for developing third country markets in Africa, Latin America and Central Asia.

A high level delegation from UAE met Minister of Commerce and Industry, Suresh Prabhu, on February fifth to further promote the strong bi-lateral relations between UAE and India. The Abu Dhabi delegation was led by Ahmad Sultan Alfalahi, Commercial Attache in the Embassy of the United Arab Emirates, New Delhi. The delegation also comprised of Mohamed H. Al Muhairi, Director General, Abu Dhabi Chamber of Commerce and Industry, Rashed Abdul Karim Al Blooshi,Chief Executive, Abu Dhabi Securities Exchange, Mohamed Hamad Al Hameli from the Department of Health, Abu Dhabi.

India-UAE relations are in the spotlight as the Prime Minister of India, Narendra Modi, is visiting the UAE for the World Government Summit(WSG) from February 11-13 The PM’s tour will explore areas to further India’s reach to the Arab countries and also expand strategic partnerships in this region. UAE has already announced plans to invest $ 75 billion over 10 years for India’s growing infrastructure projects.

            On January 14 this year Minister of Commerce and Industry along with senior officials had attended the 5th Meeting of the UAE-India High Level Joint Task Force on investment held in Abu Dhabi to discuss facilitation of investment in key sectors in UAE and India.

           

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