ABU DHABI: Sheikha Lubna Al-Qasimi, UAE's minister of foreign trade, will visit India from Feb. 8 to 12 to promote the emirates' trade and investment offers to the country.
She is leading a senior trade and investment delegation comprising around 20 federal, local and private representatives who will promote business and investment opportunities in the UAE to the four cities -- New Delhi, Mumbai, Hyderabad and Bangalore.
Sheikha Lubna explained that India is a large consumer market with a population of more than 1 billion people, and can accommodate national products that match the quality of many foreign goods as well as products of the GCC in general. She said the two countries could focus on joint private projects in fields such as IT, computers, and related industries in order to meet local and regional demand. These, she said, would be backed by the UAE's numerous investment incentives and India's technology expertise.
A UAE exhibition of traditional industries and handicrafts for small business owners will be organized on the sidelines of the promotional tour to showcase the Emirates' heritage businesses. This event will facilitate interaction between the two countries' producers on possible investments and partnerships into these types of industries; it will also enhance the appeal of the UAE's craft industries within the Indian market.
During her visit, Sheikha Lubna will meet with local ministers and trade and economic leaders to discuss the strengthening of bilateral cooperation and the development of joint investment projects utilizing the UAE's trade and investment facilities. Representatives from the UAE's local and federal agencies will also discuss the same issues with the host country's government representatives and economic and investment leaders.
Sheikha Lubna stressed the importance of the promotional tour in highlighting investment opportunities in the UAE markets. The UAE's non-oil trade with India reached $1.32 billion last year to surpass the 2007 figure by 48 percent and make India the emirates' top international trade partner.
Sheikha Lubna pointed out the key role of the Indian market in advancing the UAE's non-oil exports, which amounted to $4.9 billion. The value of re-exports from the UAE to India for the same period totaled $10.4 billion.
Sheikha Lubna's delegation will include other ministry officials, including Director General Abdullah Ahmed Al-Saleh. Representatives from the Ministry of Economy, the central bank, the Federation of Chambers of Commerce and Industry, chambers of commerce and industry in UAE, the Department of Economic Development in Abu Dhabi, and the Free Zone Authority in Fujairah and Ras Al-Khaimah will join as well, in addition to other key federal and local agencies.
