The Ras Al Khaimah Economic Zone (RAKEZ) recently signed a memorandum of understanding with the UAE-India CEPA Council (UICC), marking a significant step in boosting the UAE-India bilateral economic partnership.
Yaser Abdulla Al Ahmed, RAKEZ chief government and corporate relations officer, and Ahmed Aljneibi, UICC director, recently signed the agreement during the UAE-India Business Forum in Mumbai, India.
UAE-India economic potential
RAKEZ and UICC’s agreement seeks to raise awareness of the economic potential between the two countries, highlight the tangible benefits of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), and foster deeper economic, investment, and trade relations between private sector stakeholders. Under the agreement, the two entities will exchange information and explore opportunities for joint events to promote greater interaction among their members.
“The signing of this MoU underlines the critical importance RAKEZ and the emirate of Ras Al Khaimah have played, and continue to play in the broader UAE-India bilateral partnership,” stated Aljneibi.
Aljneibi expressed the UICC commitment to working with RAKEZ to further promote the benefits of the CEPA and expand opportunities in both economies, investment, and trade partnerships.
Advancing trade and investment ties
“UAE-India economic cooperation is a cornerstone of both countries’ growth trajectories, and this MoU with the UICC is a significant step in deepening that link,” added RAKEZ group CEO Ramy Jallad.
By contributing to the UAE-India CEPA, RAKEZ aims to unlock new opportunities for businesses on both sides, driving innovation, trade and investment. “Through this partnership, RAKEZ will facilitate connections and strengthen its business ecosystem where more Indian companies can thrive and expand their operations, contributing to mutual economic success,” Jallad noted.
RAKEZ and UICC’s agreement builds on the ongoing momentum of the UAE-India CEPA. It seeks to further advance trade and investment ties between the two countries. Both entities are committed to aligning their efforts and resources to elevate the UAE-India economic relationship to exciting new heights.
India is a key market for RAKEZ, which is already home to over 6,000 Indian investors.
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