Dubai Chambers look forward to new horizons for trade and investment in front of 200 investors in Mumbai

On the sidelines of the visit of His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defense, Chairman of the Executive Council of the Emirate of Dubai, to the friendly Republic of India, the Dubai Chamber of the Dubai – India Forum for Business, which was organized today (Tuesday) in Mumbai, concluded with the presence of more than 200 senior officials and investors and with the participation of 39 of the most prominent leaders of the business community in Dubai, with the aim of researching and looking forward to enhancing ways to enhance strategic economic opportunities Shared.

The organization of the forum comes in conjunction with the momentum witnessed by bilateral relations with the passage of 3 years since the comprehensive economic partnership agreement between the UAE and India, which was signed on February 18, 2022 and was the first bilateral agreement concluded by the UAE within the comprehensive economic partnership agreements.

During the forum, the prospects for expanding commercial and investment cooperation between business communities in Dubai and India were reviewed, and joint investments and projects were developed. Participants in the meeting dealt with the competitive ingredients and the promising economic capabilities of Dubai and India, and mechanisms to benefit from them to stimulate the growth of trade and inter -investment movement.

Exceptional relationships

During his opening speech to the activities of the forum, the Vice -Chairman of the Board of Directors of Dubai Chambers, Ahmed bin Bayat said: “Dubai and India have exceptional relations based on mutual trust and economic integration, as India has an important position as a major commercial partner for the Emirate of Dubai, the value of non -oil trade between the two parties exceeded the first nine months of last year 142 billion dirhams, with a growth of 19% on an annual basis. The comprehensive economic partnership between the UAE and the Republic of India, we are fully confident in the increasing pace of bilateral trade and its long -term development.

For his part, the Director General of Dubai Chambers, Mohamed Ali Rashid Lootah said: “Dubai is characterized by a strategic position for Indian companies as a favorite investment destination because of its integrated competitive ingredients. Indian investors are a major part of the business scene in the emirate, as the total number of active Indian companies registered in the membership of the Dubai Chamber of Commerce at the end of last March reached 72 thousand and 651 companies, while it joined 4 thousand And 563 new Indian companies to the chamber membership during the first quarter of this year, with a growth of 16.2% on an annual basis, and thus Indian companies come first in terms of the number of foreign companies operating in Dubai and registered with the chamber’s membership.

He added: “The Dubai – India Business Forum in Mumbai comes within the framework of our keenness to develop ways of cooperation between business societies in Dubai and India, and to anticipate promising new opportunities in a group of vital sectors. This event constitutes a qualitative platform for expanding economic ties and anticipating the prospects for joint investment, in conjunction with the discussion of innovative ideas and proposals that enhance trade and investment relations and develop long -term partnerships to achieve common development goals.”

The forum witnessed a dialogue session in which His Excellency Mohamed Ali Rashid Lootah, Director General of Dubai Chambers, and Adib Ahmed, President of the Federation of Indian Chambers for Trade and Industry (FICICI)- Arab Council, AR Mawkondan, Vice President of the Indian Industries Union (CII), and Annant Singhan, former president and member of the Organizational Committee in the Indian Chamber of Commerce and Industry (IMC).

Prospects for cooperation

The session discussed the prospects for promising relations between Dubai and India in the fields of trade, investment and international expansion in light of the changes in the global trade scene, during which the role of Dubai was highlighted as a strategic destination for the expansion of Indian companies in global markets, and the session also dealt with mechanisms of companies benefiting from Dubai’s position as a pioneering commercial and investment center and ways to build new horizons for cooperation and inter -trade to enhance Dubai and India’s position on the global economy map.

The Dubai – India Business Forum contributes to achieving the goals of the Dubai Chambers towards strengthening strategic economic partnerships, developing the cross -border trade movement, and building new investment opportunities locally and globally, in addition to anticipating new prospects for business, trade and investment between Dubai and major markets around the world.