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Last updated: 27 Oct, 2009  

Dubai.9.Thmb.jpg UAE to set up trade office in India

Dubai.9.jpg
SME Times News Bureau | 27 Oct, 2009

UAE is considering to open a trade office in India after setting up a similar center in China, in line with its strategy to safeguard the country's trade interests and increase foreign direct investment.

Abdullah Ahmed Al Saleh, the director-general of the MoFT, said that the ministry is considering to open a new  trade office in India, the first trade partner for the UAE, indicating that there are similar UAE trade offices in US, Germany and Switzerland.

UAE's Ministry of Foreign Trade (MoFT) has set up the trade representation office in China as part of its plan to boost trade and economic ties between the UAE and China.

Saleh added that the step to open the trade office in China, follows coordination with the UAE foreign ministry, as well as with plans to set up more trade representation offices at the trade and economical capitals important for the country.

UAE is the 10th largest foreign direct investor in India, having invested more than $5 billion in the country. India is the third largest investor in the UAE.

Total trade between the two countries is likely to exceed $25 billion by 2010 with trade balance remaining in India's favour in view of rising bilateral relations between the two nations.

 
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