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UAE to hold its first trade show in India
Monday, 10 February 2003, 20:30 IST
DUBAI: The United Arab Emirates (UAE) will hold its first trade exhibition in India that will bring together as many as 150 firms for a four-day mega show in Mumbai.
The exhibition, to be held at the Mumbai World Trade Centre between May 12 and 15, will be jointly organised by the Dubai Chamber of Commerce and Industry (DCCI), Dubai Customs and Seaports Authority (DCSA), Dubai Free Zone (DFZ) and the Department of Tourism and Commercial Marketing (DTCM).
Dubai Chamber of Commerce and Industry director Abdul Rahman Al Mutaiwee said the aim of the exhibition was to boost trade ties between the UAE and India that stood at Dh7.6 billion in 2001.
"The exhibition in Mumbai will enhance business relations with India and create wider business opportunities for the manufacturers and businessmen in the UAE and India," said Mutaiwee.
"Besides the registered participants, several independent businessmen are expected to travel independently to attend the exhibition," he added.
The UAE is a major trading partner of India in the Gulf region and is the largest market for Indian products in the Middle East. India's exports to the UAE are diversified and contain a large basket of goods.
Officials in the team of sponsors expressed hope that the strong ties India shared with the UAE would be enhanced by the exhibition.
"The UAE and India have a long history of commercial ties and this relationship is set to grow stronger with the staging of the exhibition in India," said Khalid A. bin Sulayem, DTCM director-general.
Ahmed bin Butti, managing director, Jebel Ali Free Zone Authority, said the large number of Indian companies operating in Dubai and the UAE were proof of the growing ties between the two countries and the potential for investment.
India is also a major source of investment into the UAE. The Jebel Ali Free Zone has 288 Indian companies out of a total of 2,350 companies operating from there.
He added that India was surging economically in a variety of fields and was the right time to take the UAE brand to the market through this event.
On the Indian end, the Confederation of Indian Industry (CII), a leading Indian business chamber, will promote the show.
The UAE reportedly replaced Hong Kong as the second biggest destination for Indian exports in 2001-02 with the two-way trade between India and UAE reaching $3.40 billion.
India's exports to the UAE during fiscal 2001-02 were $2.482 billion compared to $2.582 billion in 2000-01, a fall of 3.86 percent. While exports to Hong Kong saw a 10.16 percent decline to $2.263 billion from $2.631 billion during the same corresponding period.
India was fourth top exporter to Dubai in 2000 with Dh5.735 billion. India's share in UAE imports in 2000 has increased to 4.3 percent from 3.9 percent in the previous year.
During the year, 2000-2001 there has been a considerable decrease in Indian import from UAE of goods like gold, sugar, non-ferrous metals, sulphur and unroasted iron ore pyrites. Once again in 2000-2001, the bilateral trade balance has been in India's favour.
Indian exports to UAE in 1997-98 stood at $2.6 billion in 2000-01, $2.15 billion in 1999-2000, $2.15 billion in 1999-2000 and $1.46 billion, $1.86 billion in 1998-99.
While India's imports were $650 million in 2000-01, $2.14 billion in 1999-2000, $1.73 billion in 1998-99 and $1.78 billion in 1997-98.
The major items of India's exports to UAE have been ready made garments cotton, accessories, gems and jewellery, manmade yarn, fabrics, made-ups, metal products, cotton yarn, fabrics, marine products, machinery and instruments, plastic and linoleum products, tea and meat preparations.
Source: IANS
Source: IANS