UAE Minister of Foreign Trade H.E. Sheikha Lubna Bint Khalid Al Qasimi discussed ways to reinforce bilateral trade, investment and economic ties between the UAE and India with Andhra Pradesh Chief Minister K. Rosaiah during her visit to India. The two sides discussed how to enhance communications between their business communities and expressed their satisfaction towards the advanced relationships between their states.
Her Excellency pointed out that the UAE is highly committed to enhancing its commercial partnership with India, noting that India is the Emirate’s top trading partner. On the other hand, she said that the UAE ranks among India’s leading commercial partners, with non-oil exchange between the two nations rising 56 per cent from 2007 to reach USD 32.1 billion in 2008, representing 15 per cent of the UAE’s total foreign non-oil trade for the year.
The UAE Minister stated that the governments of both countries have provided the necessary legal and legislative frameworks to enable the private sector to transform investment opportunities into vital and strategic projects. These, she explained, stimulate more economic growth and strengthening bilateral relations in line with global development.
Sheikha Lubna encouraged Indian companies to tap the UAE’s numerous business incentives such as its strategic geographic location and competitive facilities in order to enhance their trade partnership with the Emirates as well as the rest of the world. She went on to thank the government of Andhra Pradesh and the Federation of Indian Chambers of Commerce and Industry for their help in achieving the goals set by the UAE delegation’s government and private representatives as part of the promotional tour across major Indian cities.
For his part, Chief Minister K. Rosaiah emphasized the commitment of India and Hyderabad in particular to strengthen ties with the UAE, expressing his government's willingness to support direct investments from the UAE and grant UAE businesses more competitive advantages and facilities. He also commended the partnership agreements made between many UAE and Indian companies covering the construction of several service and structural developments in Hyderabad.
The Indian Minister said that he looks forward to accommodating more UAE companies planning to operate direct air routes between Hyderabad and UAE cities, noting that enhanced daily flights would further strengthen the trade, investment and economic ties of both countries.
The meeting was attended by H.E Mohammed Sultan Al Owais, UAE Ambassador to India; H.E. Abdullah Ahmed Al Saleh, Director General of the Ministry of Foreign Trade (MoFT); a MoFT official Mr. Manea Al-Suwaidi; and H.E. Saeed Khammas, Vice President of the Federation of UAE Chambers of Commerce and Industry.