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null Top-level UAE delegation showcases incentives offered to Indian business community to support its growth & global expansion

12 Feb 2023

UAE participates in Uttar Pradesh Global Investor Summit 2023 in the presence of Indian Prime Minister 


Top-level UAE delegation showcases incentives offered to Indian business community to support its growth & global expansion



A top-level UAE delegation comprising senior officials, including H.E. Ahmed bin Ali Al Sayegh, Minister of State; and H.E. Dr Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, participated in the Uttar Pradesh Global Investor Summit 2023 in Lucknow, India. The UAE participated in this event as a ‘partner country.’

The UAE ministers attended the Summit’s opening session, which was inaugurated by Shri Narendra Modi, Honorable Prime Minister of India. During a session dedicated to the UAE, the two ministers highlighted how the UAE-Indian trade and investment relations are currently being promoted, and cooperation in areas of shared interests, such as energy, health, food security, AI, advanced technology, and transportation.

The session also saw H.E. Al Sayegh and H.E. Al Zeyoudi elaborate on numerous advantages and incentives offered by the UAE economy to Indian businesses and investors, including its world-class infrastructure and logistics capabilities, strategic location, and the regulatory and legislative environment that stimulates business.

H.E. Al Sayegh noted that the UAE’s participation in the Summit will lead to closer cooperation between the private sectors of both nations.


He added: “India is the world’s fifth largest economy and the UAE’s second largest trade partner. The comprehensive economic partnership agreement (CEPA) that was established between the two friendly nations has already elevated our partnership to new heights by unlocking untapped opportunities in priority sectors in both markets.”


Meanwhile, H.E. Al Zeyoudi pointed out that the UAE and India share many similarities in terms of their vision to promote business growth, attract investments, and boost trade flows to drive sustainable economic growth. H.E. highlighted that the UAE delegation’s visit and participation in the Summit has brought forth many more key opportunities to foster economic and trade collaboration; explore potential areas of cooperation; share best practices; build capacities; and embrace innovation in priority sectors.


H.E. added: “Ahead of the first anniversary of our landmark CEPA, we are intensifying our efforts to build stronger, mutually beneficial relationship that will deliver long-term benefits for both nations.” H.E. Al Zeyoudi noted that non-oil trade between the two nations reached AED 180 billion (USD 49 billion) in 2022, up 10 per cent and 77 per cent compared to 2021 and 2020, respectively.


In addition, H.E. Al Sayegh and H.E. Al Zeyoudi held several bilateral meetings during the visit, including one with Yogi Adityanath, Honorable Chief Minister of Uttar Pradesh, which highlighted the UAE’s recent investments in Uttar Pradesh. Following meetings with several other prominent local business leaders and senior officials, the UAE ministers also visited Lulu Mall in Lucknow - one of the most successful and prominent UAE investments in Uttar Pradesh.


Other members of the UAE delegation were H.E. Abdullah Al Mazrouei, Chairman of the Federation of UAE Chambers of Commerce & Industry; H.E. Rashed Abdulkarim AlBlooshi, Undersecretary at the Abu Dhabi Department of Economic Development (ADDED); H.E. Humaid Mohammed Ben Salem, Secretary General of the Federation of UAE Chambers of Commerce & Industry; H.E. Mohamed Sharief Habib Al Awadhi, Director General of Fujairah Free Zone Authority; H.E. Marwan Khameis Abdulla Bin Alshaikh, Member of Board of Directors of the Fujairah Chamber of Commerce and Industry; Mr. Majid Al Nekhelawi, Deputy Chief of Mission, UAE Embassy in India; Mr. Yusuf Ali, Chairman and Managing Director of Lulu Group International; and Dr. Shamsheer Vayalil Parambath, Founder and Chairman of Burjeel Holdings, in addition to representatives of Abu Dhabi Ports, DP World and VPS Healthcare Group.


After its coming into force last May, the UAE-India CEPA has contributed to cementing the historic ties shared by the two countries by significantly boosting trade and investment exchanges.



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