Tuesday 19 June 2018

Bin Fahad (L) with Modi (R) at the meeting

UAE team discusses trade opportunities with India PM

DUBAI, January 12, 2017

A senior delegation from the UAE met with Indian Prime Minister Narendra Modi on the sidelines of an ongoing summit in India, and discussed ways to enhance economic ties, expand areas of cooperation and raise bilateral trade and investments.

The delegation is being led by Dr Rashid Ahmed Bin Fahad, UAE Minister of State, and is participating in the 8th Vibrant Gujarat Global Summit running from January 10 to 13, in Gandhinagar, the capital of Gujarat state in India, said a statement.

The delegation is accompanied by Abdullah bin Ahmed Al Saleh, undersecretary of the Ministry of Economy for Foreign Trade and Industry, Dr Ahmed Al Banna, UAE Ambassador to India, and a number of senior officials, it said.

The meeting addressed ways to enhance and strengthen economic and investment partnerships in areas of common interest, most notably infrastructure, energy, and tourism, it added.

Dr Bin Fahad began the session by extending the greetings and best wishes of HH Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai, and HH Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to the Republic of India.

The leaders expressed their desire for progress and prosperity for the people of India, for his part, the Indian Prime Minister complemented His Highnesses and wished further development and prosperity for the UAE and its peoples as well.

Prime Minister Modi commended the UAE’s participation in the ongoing summit of Gujarat as well as the upcoming Partnership Summit slated for the end of this month in India, said a statement.

Moreover, Modi emphasised the distinguished historic bilateral relations binding the UAE and the Republic of India and their mutual desire to enhance cooperation, particularly on the economic and trade fronts.

He noted their shared goal of achieving further progress and expansion in bilateral trade in the coming year, voicing his hope of attaining high levels of partnership reflecting the capacities and capabilities enjoyed by the two sides.

The Prime Minister also pointed out his country's interest in enhancing UAE investments in the Indian markets, especially in development projects involving infrastructure, logistics services, airports, and ports. He said that UAE companies have been highly successful and efficient in its international experiences in these fields, and added that the renewable energy and tourism are of high priority for the Indian Government.

On the other hand, Dr Bin Fahad underscored the UAE's commitment to elevating economic and trade ties with India and further exploring broader cooperation in several sectors of common interest which serve the development goals of their countries.

Bin Fahad continued by saying that India is one of the most attractive markets for UAE investments due to its high growth rate. He noted that the infrastructure, energy and tourism sectors are of high priority for the UAE under its development vision and offer many opportunities for enhanced mutual investments in the near future.

The Minister further emphasised that in light of their robust economic relations and the deep ties binding their business communities supported by a mutual desire to maximise cooperation, their economic and trade relations are expected to witness huge leaps in the next stages and achieve further development at all levels.

Dr Bin Fahad also facilitated a meeting with Vijay Rupani chief minister of Gujarat, which was attended by Al Saleh and Al Banna.

The two sides discussed areas of cooperation and ways to expand mutual investments and foster closer ties between their business communities. They highlighted the most promising sectors for building partnerships of mutual benefit, it stated. – TradeArabia News Service

Tags: | UAE | India | Trade | opportunities | PM | team |

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