`INTERNATIONAL BUSINESS FORUM - EXPANDING BUSINESS GLOBALLY"' organised by FIEO & SAIF Zone, UAE

Ludhiana, March 11, 2017: FIEO Ludhiana Chapter and SAIF Zone, UAE jointly organised a Session on “INTERNATIONAL BUSINESS FORUM - EXPANDING BUSINESS GLOBALLY” at Ludhiana. The objective of the session was to spread awareness on various business opportunities available for Indian exporters in United Arab Emirates(UAE) either by establishing their manufacturing units or by opening their offices and using UAE as base to enter and capture the Gulf Cooperation Council (GCC) markets and North African region.

Mr Thomas Joseph, Business Development Manager, Mr Ali Al Mutawa, Business Relations Officer & Mr Jithin Varrier, Business Development Office from SAIF ZONE, UAE joined the session as guests and shared various important factors related to SAIF Zone, UAE and business opportunities.

While sharing his views Mr Rahul Ahuja, the new appointed Convener for FIEO Punjab State Committee, said that “Indian organizations especially from Punjab Region must explore opportunities available in SAIF ZONE. UAE can be used as a base to understand and enter the markets of Middle East , GCC and North of Africa and its strategic location on the globe, makes it an attractive destination to do business. The UAE is an economic success story that has attracted people from all over the world, and it has also emerged as an important logistics hub. Over the past several decades, the United Arab Emirates (UAE) has been transformed into one of the world’s most robust economies. The key to the UAE’s success has been economic diversification. Free zones in particular provided a congenial environment for the acceleration of economic development in UAE”.

During his address Mr Thomas Joseph said that, “UAE is the third largest trading partner for India after US & China and the second largest export destination for India. India – UAE trade currently stands at 60 billion dollars in terms of value. India’s major export items to the UAE are: Petroleum Products, Precious Metals, Stones, Gems, Jewellery, Minerals, Food Items, and Engineering & Machinery Products and Chemicals. Both the countries are looking forward to see much higher growth in future and diversification of products than what we see today. not only trade but investment is also growing between the two countries. India is the third largest investor in UAE. Following the emergence of UAE as a major re-export centre, Indian companies have emerged as important investors in the free trade zones such as, Sharjah Airport, Free Zone. The notable reason of strong Indo- UAE economic ties is huge expatriate Indian population in UAE. Almost 3.5 million Indian expatriates currently live and work in the UAE, comprising the Emirates’ largest expatriate group. The expatriate community also contributes to Indian economy”.

He also added that “UAE re-exports 2/3 of what they import serving as a best possible gateway for entire GCC and African countries. Setting up a warehouse or a manufacturing facility in UAE will take organizations to the next level , as the companies will be exposed to excellent opportunities available in major importing partners of UAE”.

The session was well attended by close to 150 senior level representatives from prominent Punjab based companies.