(MENAFN- AsiaNet News)

Abu Dhabi Department of Economic Development official Hamad Sayah Al Mazrouei on Thursday highlighted the growing strength of India-UAE economic ties during a business delegation's visit here in India.

Growing Partnership and Investment Calls

Addressing reporters here, the Undersecretary of Abu Dhabi Department of Economic Development emphasised that trade between the two countries has been rising rapidly and at the same time continues to present significant untapped potential. He has asserted that "there is room for more" for more bilateral trade and collaborations. According to him, the UAE considers India one of its most important strategic partners. "Thirty per cent of our businesses in Abu Dhabi (are) owned or co-owned by the Indians. And we have a strategic relationship. We're here. We're here not only to attract businesses, we want Indian companies to invest with us in Abu Dhabi or from Abu Dhabi to the world," he told reporters.

Bilateral Trade and Future Sector Focus

Al Mazrouei pointed out that bilateral trade surpassed USD 65 billion in 2023, a figure that has doubled in recent years. He stressed that this momentum is expected to continue as both sides intensify cooperation across high-growth sectors such as food and agri-technology, health and health-tech, digital transformation, artificial intelligence, and infrastructure-related innovations. "There is room for more. We are doubling down on this, by focusing on important sectors like food, food tech, agri-tech, health tech and health, other important sectors such as digitalization and AI around infrastructure. These sectors we will be, doubling down on," he said.

Framework for Expansion: New MoUs

He explained that the new MoUs signed during the current visit are designed to streamline and expand trade flows, building on the UAE's network of more than 20 international economic agreements. These arrangements, he said, are structured to create smoother market access, encourage joint investment, and open new channels for business partnerships.

Abu Dhabi: A Strategic Hub for Global Expansion

Al Mazrouei added that Abu Dhabi offers strong infrastructure, robust platforms for global expansion, and an environment positioned as a launchpad for companies looking to scale internationally. "Abu Dhabi, the relationship with India goes back to the early 50s maybe. We feel we have the infrastructure, we feel we have great platforms, great launch pads, Abu Dhabi is a sandbox. Abu Dhabi is is a hub that come to trade especially in the last 5-10 years," he noted. (ANI)

(Except for the headline, this story has not been edited by Asianet Newsable English staff and is published from a syndicated feed.)

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