Page 305 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 3:41 PM H.E. Bin Touq discusses ways to enhance cooperation in new economy, tourism, entrepreneurship and transport sectors during me…
economic, political and cultural relations, which continue to grow and scale new heights.
The Minister of Economy said: "India is a strategic economic partner to the UAE and we look

forward to continuing to work with our partners in the Indian government in sectors and areas
of mutual interest. Our joint efforts will contribute to enhancing the distinct economic

partnership between the two countries, thus supporting the growth and sustainability of both
economies."

Furthermore, H.E. Bin Touq reviewed the UAE's efforts in developing the tourism sector,
especially in light of the objectives of the National Tourism Strategy 2031. The strategy aims

to raise the country’s status as the best tourism identity in the world, consolidating its position
as a leading tourism destination; increase the sector’s contribution to the national GDP to
AED 450 billion; and attract new investments of AED100 billion to the national tourism sector

by the next decade.

Indian private sector invited to benefit from the potentials of UAE's business environment
During his meeting with Dr. T.R.B. Rajaa, Minister for Industry, Investment Promotion, and

Commerce in the Government of Tamil Nadu, H.E. Bin Touq discussed a range of flexible
economic policies and legislations in both countries aimed at enhancing dialogue between the

UAE and Indian business communities and encouraging the establishment of new projects in
various economic fields. In addition, H.E. invited Indian investors and businessmen to take

advantage of the opportunities provided by the UAE, especially its logistics capabilities and
economic facilities for establishing diverse business activities. The two countries enjoy strong

relations in the civil aviation sector with continued growth in air traffic between UAE and Indias
cities. Currently, there are 555 weekly flights connecting various cities of the two destinations,
operated by the UAE’s national carriers.

H.E. also invited the two Tamil Nadu ministers to participate in the 4th edition of Investopia,
scheduled to be held in February 2025, as it will be a significant opportunity to discuss ways

to benefit from the promising opportunities that the UAE offers to investors from around the
world, and to develop cooperation in various economic sectors.

In yet another meeting, with Dr. A. Sakthivel, President of the Federation of Indian Export
Organizations (FIEO), H.E. Bin Touq highlighted the increasing opportunities for cooperation

between the two countries in export and re-export and supporting the growth of exporting
companies operating in the UAE and Indian markets.
H.E. Bin Touq also met with Mr. Sanjay Jayavarthanavelu, Chairman and Managing Director

of LMW, one of India's leading companies specializing in textile machinery manufacturing. In

addition to the latest advanced technologies and innovative solutions used by the company in
the textile machinery industry, the meeting discussed the unique economic enablers and
support that the UAE's business environment provides to companies looking to establish their

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