Discussing new opportunities between the two countries to invest in the sectors of the new economy and tourism

AED 56.5 billion UAE investment flows to India by the end of 2022

Bin Touq met with a number of ministers and senior government officials in India. From the source

The Minister of Economy, Abdullah bin Touq Al Marri, stressed that the relations between the UAE and India are witnessing continuous momentum, driven by the common desire of Abu Dhabi and New Delhi to move forward with their cooperation and build on their successes in light of their comprehensive economic partnership, to enhance the volume of non-oil trade exchange between them, which reached AED 2022 billion in 189, a growth of 15% compared to 2021, in addition to working closely with partners in the Indian government, to establish mechanisms that will increase The volume of mutual investments, and the diversification of their umbrella to include new sectors, during the next stage.

He explained that the value of UAE investment flows to India amounted to about AED 56.5 billion by the end of 2022, and was concentrated in the sectors of renewable energy, telecommunications, road infrastructure, real estate and startups, while Indian investments are witnessing a continuous increase in the UAE, where they recorded a value of AED 30 billion by the end of last year.

This came during a meeting with Bin Touq, yesterday, a number of ministers, senior government officials and representatives of the private sector in India.

Exceptional model

Bin Touq stressed that the UAE-India relations have become an exceptional model of bilateral cooperation and fruitful partnership aimed at promoting sustainable development, economic prosperity and continuous prosperity for the peoples of the two countries, with the support and patronage of the leaderships of the two countries.

During his meeting with India's Minister of Commerce, Industry, Consumer Affairs, Food, Public Distribution and Textiles, Piyush Goyal, Bin Touq discussed ways to strengthen and diversify the existing economic partnership, and adopt innovative initiatives that contribute to enhancing the access of the business communities to the available opportunities, support the growth and expansion of startups in the markets of the two countries, and provide them with more benefits and incentives, to ensure an increase in their contribution to supporting the GDP.

He said that the comprehensive economic partnership agreement between the UAE and India, which has been a year since its entry into force, was a turning point in the trade and investment cooperation relations between the two countries, as it added great flexibility to the flow of goods and goods between them, and established a new phase of sustainable growth for their economies.

New Paths

Bin Touq added that the UAE is looking forward to creating new paths through which joint investment flows can be enhanced in other new priority sectors, enhancing the competitiveness of the national economy, and consolidating the position of the two countries on the global trade map.

Tourism

Bin Touq also discussed with the Indian Minister of Tourism and Culture, Shri Ji Kishan Reddy, the possibility of stimulating more mutual investments in the tourism sector, and adopting innovative initiatives that contribute to stimulating the movement of tourists between the two countries, and work to increase mutual flights, thus contributing to supporting the sustainable growth of this vital sector.

Bin Touq said: "We are keen to strengthen bilateral cooperation with India to explore more promising opportunities in the tourism sector, and to launch innovative tourism projects, based on the latest technological methods used in providing hospitality services, which will enhance the tourist experience and make the two countries preferred tourist destinations."

He pointed out that India is among the most important tourist markets exporting to UAE visitors during 2022, as the UAE received about five million Indian visitors, while the number of Emirati visitors to India reached about 58,<>.

Advantages

In a related context, Bin Touq, during his meeting with a group of businessmen and CEOs of a group of Indian companies, called on the business community and Indian companies to take advantage of the momentum witnessed by the relations of the two countries, in light of the comprehensive economic partnership agreement between them, in addition to the advantages and incentives provided by the UAE economy, to grow and expand in the markets of the country and the Middle East and Africa.

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Millions of Indian tourists visited the UAE over the past year.