India, UAE launch business leaders forum

UAE : United Arab Emirates and India have announced the formation of the Business Leaders Forum (BLF) to increase the bilateral trade between both countries. 

The Forum is the outcome of the joint efforts of the UAE Ministry of Economy and the Indian diplomatic missions in the UAE and will work towards strengthening ties between both countries and enhance economic cooperation and investments. 

India Trade & Exhibition Centre m.e. (ITEC) will be the official secretariat for the Forum and Sripriyaa Kumaria will serve as the Secretary General. 

Earlier in the year both countries had agreed to firm plans by June 2017  to develop a medium and long term strategy for increasing bilateral trade by 60 per cent over the next five years.

At a function held here, to mark the beginning of BLF Dr. Azad Moopen, President of BLF said that ‘’BLF is a platform for interactive exchange of ideas amongst the business leaders of UAE and India. BLF shall facilitate in real time the enhancement of trade and investment between India and the UAE by acting as a one-point contact for raising issues faced by investors in India and UAE. BLF shall facilitate the formation of AED1 billion Investment consortium for investment.’’ 

Commenting on the formation of BLF Under Secretary- Foreign Trade and Industry, UAE Ministry of Economy Abdulla Saleh said, ‘’We stand united with Indian Missions in the launch of the Business Leaders Forum to further brotherly relations, economic ties and bilateral investments between UAE & India.’’ 

Dr. Ram Buxani, Senior Vice president, BLF mentioned that “India with its biggest strength being human resources, and UAE with its infrastructure, inherit strength and scope to take trade and other cooperation between two nations to new heights. UAE considers India as its extended market and India has to consider UAE as its window to the world market. BLF will facilitate this relationship”.

Jamal Jarwan, Secretary General of UAE International Investors Council (UIIC) announced the signing of a MOU with BLF to enhance investment and protect the rights of UAE International Investors with respect to investments in India. He added that the BLF will be a good platform to achieve the objectives of UIIC. 

Chairman of ITEC Sudesh Aggarwal said that there was a need for such a Forum in particular when UAE- INDIA relations are scaling new heights. He reinforced that BLF was formed with the mission of enhancing trade and investment between UAE & INDIA and targeted projects, and act as a platform for interaction between Indian and UAE Business persons and high level Government Officials. He also mentioned that the BLF membership is by invitation only for Indian and Emirati Business Leaders and of other nationalities who are friends of India/UAE and who wish to do business with India/UAE. 

During the function a welcome reception was accorded to the new Ambassador of India to UAE Navdeep Singh Suri. Suri replaces Consul General Anurag Bhushan who played a pivotal role in the formation of BLF. 

Ambassador of India Navdeep Singh Suri and Consul General of India Anurag Bhushan expressed their approval on the formation of BLF in such a short time with clear objectives in place. While addressing the Press, the Ambassador mentioned that BLF has been launched with an objective by the Indian Mission and will support the Forum to achieve its mission of enhancing trade and investment and furthering UAE-India relations.