A high-level Indian delegation, led by Indian Ambassador T. P. Seetharam, met senior Jafza officials and discussed various ways to boost the trade between two countries.

The talks aim to strengthen India’s bilateral and trade relations with Jebel Ali Free Zone (Jafza).

India is currently ranked as one of the UAE’s top 10 trade corridors, along with China, US and Japan.

The bilateral trade between the two countries had reached $ 75 billion in 2012-2013.

India-UAE bilateral trade is expected to reach $ 103.6 billion by 2025, according to a recent report released by HSBC.

Seetharam sought to further strengthen these historic bilateral relations to reach new heights.

“The UAE is now the largest trade partner of India in the Gulf and the Middle East region,” Seetharam said during his meeting with Salma Hareb, CEO of Economic Zones World, the parent company of Jafza, Ibrahim Mohamed Al Janahi, deputy CEO and chief commercial officer and Adil Al Zarooni, senior vice president, sales.

“Most of our exports in the entire region are routed through Dubai and Jafza. I look forward to a greater collaboration and strategic partnerships in all other fields including bilateral trade and investments for the best interest of both the countries,” he said.

Salma Hareb hailed the historic bond between Dubai and India and praised the Indian business community in the Free Zone for their valuable contribution in the development of Dubai and the UAE’s economic development and growth.

The number of Indian companies in Jafza has more than tripled in the last eleven years growing from 236 in 2002 to 770 in 2013 making India the Free Zone’s one of the most important trading partners.

“Our relations have evolved through the bilateral trade and people-to-people contact running through several centuries,” said Salma Hareb.

“Economic engagement has been one of the key factors in expanding and sustaining the pace and scale of bilateral relations between Dubai and India in the recent years,” said the official.

India’s major export items to the UAE include petroleum products, precious metals, stones, gems and jewelry, minerals, food items, engineering and machinery products and chemicals. India’s major imports from the UAE include petroleum and petroleum products, precious metals, stones, gems and jewelry, minerals, chemicals, wood and wood products.

The bilateral non-oil trade between Jafza and India in 2013 is estimated to have reached $ 5 billion.

The volume of trade between Jafza and India continues to grow at a robust pace.

India’s export to the UAE accounts for 6 percent of the subcontinent’s total exports to the world, while 60 percent of its total non-oil exports in the Middle East region goes through Dubai.