Page 315 - MOE ENGLISH PR REPORT - JULY 2024

7/29/24, 3:41 PM PRESSR: H.E. Bin Touq discusses ways to enhance cooperation in new economy, tourism, entrepreneurship and transport sectors …
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 operations in the country.

During another meeting with Mr. Dheeraj Hinduja, Chairman of Ashok Leyland, a

leading Indian company in vehicle manufacturing and assembly, and the fourth-

largest bus manufacturer in the world, the company presented its expansion
plans in the UAE market before H.E. the Minister of Economy.

Trade and Investment Cooperation between UAE and India

The UAE’s FDI in the Indian markets cover several vital economic sectors, most

notably renewable energy, software, IT services, and automotive

manufacturing. The non-oil trade exchange between the two countries is also

witnessing continuous growth, with the total value of non-oil trade between the

two sides exceeding USD 53.5 billion in 2023, a growth rate of 3.9 per cent

compared to 2022.

For further information, please contact:

Orient Planet Group (OPG)

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