RAKEZ and Indian Chamber Forge Alliance to Deepen UAE-India Trade

The Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Chamber of Commerce (ICC) have inked a Memorandum of Understanding (MoU) to bolster economic ties between the United Arab Emirates (UAE) and India. This strategic partnership aims to unlock new business opportunities and fuel economic growth for both nations.

The MoU, signed by RAKEZ Group CEO Ramy Jallad and ICC Regional Director Ratheesh Nair, establishes a framework for collaboration that will connect RAKEZ with India's vast business landscape through the ICC's extensive network. This will provide Indian companies with a direct gateway to the UAE market, facilitating their expansion and growth.

The agreement is particularly significant in light of the recently implemented Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India. RAKEZ has been a vocal advocate for CEPA, actively promoting the agreement through roadshows, investor meetings, and knowledge-sharing initiatives. The MoU with the ICC serves as a natural extension of these efforts, translating the potential of CEPA into tangible opportunities for businesses on both sides.

Speaking on the partnership, Jallad highlighted its importance for RAKEZ's commitment to fostering the success of Indian businesses in the UAE. "Our collaboration with the Indian Chamber of Commerce represents a significant milestone for RAKEZ, " he stated. "We are unwavering in our support for Indian companies, and this MoU builds upon our ongoing efforts to promote the CEPA agreement. Through this partnership, we will continue to provide Indian businesses with the resources and support they need to thrive in the UAE. "

The ICC's Director General, Dr. Rajeev Singh, echoed Jallad's sentiments, emphasizing the long-standing trade relationship between the UAE and India. "The UAE and India have a rich history of dynamic trade ties, " Dr. Singh remarked. "This MoU with RAKEZ unlocks new avenues for our members and Indian entrepreneurs to explore and establish a presence in one of the region's most flourishing economic zones. We are confident that this partnership holds immense potential for the future of Indian businesses in the UAE. "

The RAKEZ-ICC alliance is expected to yield significant benefits for businesses in both countries. Indian companies will gain access to RAKEZ's world-class infrastructure, streamlined business setup processes, and investor-friendly regulations. This will empower them to establish a foothold in the UAE and leverage its strategic location to access wider regional markets.

For RAKEZ, the partnership strengthens its position as a leading destination for Indian investment. By attracting a wider pool of Indian businesses, RAKEZ can further diversify its economic landscape and contribute to the UAE's overall economic development.

The MoU between RAKEZ and the ICC signifies a new chapter in UAE-India economic cooperation. By fostering closer business ties and facilitating market access, this partnership has the potential to unlock a new era of shared prosperity for both nations.