UAE Minister of Foreign Trade (MoFT) Sheikha Lubna Bint Khalid Al Qasimi is on a visit to India to enhance trade co-operation and promote investment opportunities available in the UAE.
She is being accompanied by a delegation of 43 representatives from the public and private sectors.
The visit, which concludes on February 12 includes a promotional tour across four Indian cities including Delhi, Mumbai, Hyderabad and Bangalore.
The delegation is also taking part in the second edition of the two-day Arab-India Partnership Conference which began on Monday in New Delhi under the umbrella of the India-Arab Cooperation Forum.
Sheikha Lubna will be joined by other MoFT officials including director general Abdullah Ahmed Al Saleh and Halla Lootah, director of MoFT's Government Communications Relations Department.
The other delegates will represent the Ministry of Economy; the Central Bank; the Department of Economic Development in Abu Dhabi; the Dubai Department of Economic Development; the Abu Dhabi Tourism Authority; the Abu Dhabi National Exhibitions Company; the Fujairah Free Zones Authority; the Sharjah Free Zones Authority; the Ras Al Khaimah Free Zones Authority; the Ras Al Khaimah Investment Authority; the Federation of UAE Chambers of Commerce and Industry; and the Sharjah Chamber of Commerce and Industry.
National companies along with a number of officials from foreign banks and international companies operating in the UAE are also part of the delegation.
Sheikha Lubna said the UAE was committed to enhancing its ties with its foreign trade partners in line with its policy of accelerating the pace of economic growth and strengthening the pillars of comprehensive development in the Emirates’ various sectors.
She explained that this would be achieved through economic openness, trade liberalization, the encouragement of foreign investments into the country, and the promotion of private-sector participation in the development process.
Sheikha Lubna emphasized that MoFT was playing a vital role in promoting the UAE’s position as a leading trade centre at the regional and international levels.
"The Ministry is eager to open new markets for national products and exports that can compete with the quality of goods available within the global markets. India is a big consumer market that can also accommodate national products matching the quality of international goods," she added.
She also pointed out the UAE was the largest Arab trading partner of India, noting that the value of non-oil trade between the two countries reached around $32.1 billion or 15 per cent of the UAE's total foreign trade volume with the rest of the world.
During her promotional tour, Sheikha Lubna will meet ministers and representatives of Indian trade and economic establishments to discuss enhanced bilateral co-operation and explore available opportunities. These aim to encourage joint investment projects that can tap the Emirates’ trade and investment capabilities.
The other UAE representatives will also meet Indian government departments and economic and investment establishments to discuss the creation of promising investment opportunities and the development of a framework of joint co-operation.
The Sharjah-based Indian Trade and Exhibition Centre in the Middle East will highlight the success stories of Indian investors in the UAE in addition to the rich opportunities available in various sectors.
Sheikha Lubna will deliver a speech focusing on UAE strengths and capabilities that have played an important role in addressing global challenges.
She will also discuss the great opportunities currently available in various sectors, especially those involving non-oil businesses, which have the potential to spur further cooperation between the two countries.-TradeArabia News Service