UAE, India launch Business Leaders Forum

DUBAI: United Arab Emirates (UAE) and India have announced formation of the Business Leaders Forum (BLF) to enhance bilateral trade between the two countries. The forum is the outcome of the joint efforts of the UAE Ministry of Economy and the Indian diplomatic missions in the UAE.

The forum will work towards strengthening the ties between UAE and India, according to UAE official news agency. It will also help to enhance economic co-operation and investments. It is stated that India Trade and Exhibition Centre (ITEC) in Sharjah will be the official secretariat for the forum and Sripriyaa Kumaria will serve as its secretary-general.

It is announced that BLF shall facilitate formation of Dh1 billion consortium for investment in India and the UAE. Earlier in the year, UAE and India had agreed to develop a medium and long-term strategy for increasing bilateral trade by 60 percent over the next five years.

UAE Ministry of Economy Under-secretary for foreign trade and industry Abdulla Saleh said, “We stand united with the Indian missions in the launch of the Business Leaders Forum to further brotherly relations, economic ties and bilateral investments between the UAE and India.”  UAE officials announced the signing of a Memorandum of Understanding with the BLF to enhance investment and protect the rights of the UAE investors in India.