SAIF Zone highlights opportunities for Indian companies to expand business globally through UAE

Hyderabad, June 26, 2023: The Comprehensive Economic Cooperation Agreement (CEPA) signed by India and the UAE is an important milestone in trade relations between the two countries. The businesses from both India and UAE have already started leveraging upon the duty waivers and enhanced market access offered under the CEPA, resulting in not only boosting bilateral trade but also two-way investment flows. 

In line with this, ASSOCHAM organized One to One Meetings on 22 and 23 June in Hyderabad between delegates from Sharjah Airport International Free Zone, Govt. of Sharjah, UAE and ASSOCHAM Members from Hyderabad. The meetings helped Hyderabad Industries to understand the benefits of India-UAE CEPA & how Indian companies can expand their operations into foreign markets through establishing branches and subsidiaries and using UAE as base to enter and capture the other Gulf countries, Africa, Europe etc. More than 70 companies attended the meetings.

Ali Al Mutawa, Deputy Director, SAIF Zone, Govt. of Sharjah, UAE said, “There is a significant demand for Indian Products in UAE and other GCC markets and Indian exporters must utilize this opportunity. Following the CEPA, UAE will emerge as a major re-export centre. There are many promising opportunities and incentives in SAIF Zone for Indian companies that an investor can enjoy.”

Ravi Kumar Reddy Kataru, Chairman, ASSOCHAM Andhra Pradesh & Telangana Development Council and CMD, AXIS Energy Group, said, “For Indian businesses looking at the markets in the Middle East, North Africa and Central Asia, Sharjah Airport International Free (SAIF) Zone, could be a force multiplier for their marketing efforts. There are lot of synergies between Hyderabad based industries and UAE. This is one of the reasons to organize meetings in Hyderabad so that we can increase the awareness among the industrialists and to give all the help to set up their business on the global level.”