India, UAE to set up Trade Policy Forum
UAE investors will be setting up industry complexes in India, and serving the Mid East, Africa, Latin America and Central Asia.india Updated: Dec 11, 2006 10:04 IST
India and UAE will set up a Trade Policy Forum as part of steps to increase bilateral trade.
The forum would be co-chaired by Commerce Secretary along with the Director General of Foreign Trade and joint secretary concerned of the Department of Commerce, an official statement said on Monday.
"UAE investors would find attractive industrial partners in India to set up mutually advantageous industry complexes in the Gulf and India and serve all markers, notably the Middle East, Africa, Latin America and Central Asia," the statement quoted Commerce and Industry Minister Kamal Nath as saying.
The decision in this regard was taken at Nath's meeting with Minister of Economy UAE Sheikha Lubna Al Qassimi during his recent visit to Dubai for the India Arab World Business Summit.
During 2005-06, the non oil trade volume stood at 12904.9 million dollar as against 11988.98 million dollar in 2004-05.
The UAE is India's top trading partner in West Asia and North America, representing nearly 75 per cent of India's exports to the Gulf Cooperation Council, it added.