Dubai Customs, India explore ways to boost trade & investment ties

By Shilpa Annie Joseph, Official Reporter
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Dubai Customs
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Dubai Customs has conducted a virtual meeting with an Indian business and trade delegation as part of their “Ertibat Initiative” to improve cooperation with diplomatic missions and trade partners.

The meeting was held in the presence of Mr. Ahmed Mahboob Musabih, CEO of Ports, Customs and Free Zone Corporation and Director-General of Dubai Customs, and Dr. Aman Puri, Indian Consul-General to the UAE.

The Indian Consul-General thanked Dubai Customs for organizing the meeting, which serve the interests of both parties and facilitate trade and investment activity between India and the UAE.

Dr. Aman Puri
Dr. Aman Puri
Consul General of India

“Trade between the UAE and India shows signs of remarkable recovery and growth, thanks to the world’s procedures and measures taken during the last year which led to slow down the spread of the pandemic. India and the UAE are continuing their negotiations on the comprehensive economic partnership agreement, which would further strengthen ties, expand economic and investment possibilities, and usher in a new era of strategic collaboration between the two countries. Such an agreement is expected to increase mutual trade of commodities to $100 billion and services to $15 billion in the next five years. Many Indian businesspersons are moving their headquarters or branches to Dubai. EXPO2020 Dubai means a lot to us in India and we are the largest nationality in the exhibition.”

On his part, Mr. Musabih welcomed the Indian delegation emphasizing the strong historic relationship between the UAE and India.

Mr. Musabih noted, “India is Dubai’s second-largest trade partner, and the emirate’s trade with India touched $18 billion (AED67 billion) in the first half of 2021, growing 74 percent from $10 billion (AED39 billion) in the corresponding period in 2020.”

“We continuously develop our work models to support our partners’ trade activities and reduce the cost of their operations. Any success we make is also a success to our partners. With this vision always in mind, we achieved 98 percent on the client happiness index,” he further added.

Related: UAE & India to carry out 3rd round of free-trade pact talks next week