UAE and Indian state of Kerala explore means to foster cooperation in sectors of new economy, tourism, advanced manufacturing, circular economy & agriculture

Minister of Economy reviews opportunities for strengthening partnerships with the Indian state

H.E. Abdulla bin Touq Al Marri, Minister of Economy, held a meeting with Shri. P. Rajeev, Minister of Industries, Law and Coir of the Indian state of Kerala, at the Ministry’s headquarters in Dubai. The meeting was aimed at enhancing economic cooperation between the UAE and the state of Kerala in various sectors including new economy, tourism, advanced manufacturing, circular economy, agriculture, and innovation.

During the meeting, H.E. Bin Touq emphasized the historic bonds shared by the UAE and India and the two countries’ growing partnerships in various sectors, particularly on economic and investment fronts. H.E. said: "Kerala offers numerous promising economic and investment opportunities and today’s meeting marks a new step in expanding economic relations with the Indian state. We are working together to create more opportunities and enablers for the private sector and entrepreneurs from both sides, enabling them to grow their businesses and leverage the economic and legislative advantages offered by both markets. The UAE and India serve as attractive markets for capital and startups in various future-oriented sectors, which add to the competitiveness and sustainability of their economies.”

In this regard, H.E. Bin Touq apprised the Indian delegation of the latest developments in the UAE's economic landscape, including policies, initiatives, and measures implemented to enhance the business environment’s competitiveness. He highlighted the country’s efforts to enhance economic openness to the world, establish economic partnerships with strategic markets at regional and global levels, and bolster the flexibility of its economic legislative framework - all of which have cemented the UAE’s position as a global economic hub.

During the meeting, the two sides discussed the importance of maximizing benefits offered by the existing economic partnerships and agreements between the UAE and India. They explored ways to enhance cooperation in priority sectors, with specific emphasis on fostering partnerships that promote innovation and leverage modern technologies in future economic sectors.

The UAE ranks as India’s third-largest global trading partner, with non-oil trade between the two nations amounting to $53.8 billion during the first 10 months of 2024 with a 22.6 per cent growth compared to the same period in 2023.