Page 32 - Bullion World Issue 7 November 2021
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Bullion World | Issue 07 | November 2021
UAE Update on
Bullion Market
Mr. Ahmed Bin Sulayem
Executive Chairman/Chief Executive Officer of DMCC
India and the UAE have had with trade ties between the two
strong trade ties for centuries, countries continuing to expand.
with merchants exchanging During the first half of 2021, the
pearls, copper and pottery for total volume of non-oil trade
textiles, rice and spices. Today, between the two countries
the UAE’s ports and free zones reached USD 21 billion. Whilst
are the gateways for the bulk of this is an impressive figure by any
India’s trade and shipments with standard, both countries recently
the rest of the world. announced that they hope to sign
a formal free trade agreement in
The UAE has become India’s early 2022 that will target over
third-largest bilateral trade USD 115 billion in annual bilateral
partner after the US and China, trade by 2027.
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