Wednesday, October 19, 2005

3rd UAE exhibition to be held in India

The tradeshow, scheduled from 7th to 10th December, 2005 at Nehru Centre, Mumbai, India is a unique initiative of the Dubai Chamber of Commerce and Industry (DCCI), Jafza – Dubai Business Hub and the Department of Tourism and Commerce Marketing (DTCM), with the aim of progressively enhancing the UAE-Indo trade relations.

Major business enterprises from the UAE like Nakheel along with key financial institutions including National Bank of Dubai, Dubai Islamic Bank and Morrison Menon Chartered Accountants will be exhibiting at the 3rd UAE Trade Exhibition in India. Also participating in the event will be the foremost Free Zones – Jebel Ali Free Zone Authority (JAFZA), Sharjah Airport International Freezone (SAIF), Ajman Free Zone, Fujairah Free Zone and Hamriyah, amongst others. The exhibition offers the perfect platform for entrepreneurs, organisations and corporate enterprises to showcase their products and services in India, which is one of the fastest growing economies in the world today. This year, the tradeshow is expected to attract over 14,000 visitors.

Trade investment between UAE and India will get a boost upon signing of the new investment protection and double taxes agreement between the two countries. The figures prove a significant rise in trade with the total bilateral trade in 2004-05 touching USD 11.92 billion. Indian imports from the UAE surged to USD 4.67 billion, a 127% rise as compared to 2003-04, while Indian exports to the UAE rose to USD 7.24 billion, a 42.5% rise over 2003-04.

Mr. Abdul Rahman Falaknaz, President, International Expo-Consults LLC (Dubai), technical organiser of the event, said, “This exhibition is the perfect opportunity for business houses and establishments to capitalize on the opportunities offered by India, whose 8% GDP growth makes it one of the fastest growing economies in the world. Moreover, the large number of Indian companies in Dubai and the UAE is proof of the growing ties between the two countries and the substantial potential for investment.”

UAE is the sixth largest exporter of products and services to India and the second largest destination for Indian exports.
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