UAE, India business groups discuss trade ties

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Old 26-Apr-2011
UAE, India business groups discuss trade ties

Dubai April 26:

The UAE's Economic Zones World (EZW) and India Club, the oldest Indian business and cultural organisation in Dubai, have discussed ways to boost commercial ties between the two sides. India is Dubai's largest trading partner.

Hisham Al Shirawi, chairman of EZW, and other officials met with top Indian businessmen who are part of the board of trustees and board of directors of the India club, it was announced Sunday. According to Dubai World's statistics department, the non-oil trade between Dubai and India in 2010 reached a record 183 billion dirhams, twice the figure achieved in 2009.

Imports from the country were valued at 88 billion dirhams, 16 percent of Dubai's total imports, while exports and re-exports stood at 43 billion dirhams and 52 billion dirhams respectively. Economic Zones World is home to 693 Indian companies with 679 companies based in Jafza while the rest are in Ducamz and Textile City. Last year, there were 65,303 Indians working in the Jebel Ali Free Zone.

Commenting on the ever-increasing commercial ties between Dubai and India, Hisham Al Shirawi said that the Indian business community in Dubai has been an important contributor of the domestic economy and played a vital role in the process of nation-building for decades. Al Shirawi said: "Dubai and Jafza's business-friendly policies and its highly developed and sophisticated infrastructure and logistics framework have attracted Indian companies since the free zone's inception, 26 years ago."

"Our meeting with this established Indian organization is yet another step towards strengthening the existing relations with the country. EZW and India Club's joint efforts will strengthen trade relations, facilitating, and opening channels for other Indian companies looking to do business in the region." The India Club board of trustees includes 20 major companies such as Air India, Jumbo Electronics, K.M. Brothers, and Regal Traders among others. India Club has been awarded the ISO 9001:2000 accreditation Lloyds' Register Quality Assurance and is also a member of the Dubai Quality Group.

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