UAE-India trade to top $100bn

GANDHINAGAR / WAM

Narendra Modi, Prime Minister of the Republic of India, met with Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, and Dr Ahmed Al Banna, UAE Ambassador to India. They explored prospects for further cooperation between the UAE and India, building on the strong existing ties between the two countries, and discussed ways to facilitate
cross-pollination of successful experiences.
The meeting took place on sidelines of the ninth edition of Vibrant Gujarat Global Summit that drew the participation of a high-level UAE delegation.
In a keynote address, Dr Al Zeyoudi said, “The UAE and India enjoy long-standing and cordial relations across multiple fronts. Backed by political and people-to-people interactions, bilateral trade continued to soar despite global headwinds. Valued at $180 million per annum in 1970s, the balance of trade volume between India and UAE is now worth $57 billion, making India the largest trading partner of the UAE, while the UAE is India’s third largest trading partner – after China and the US. 2018 saw a flurry of investments by UAE companies in India, and the UAE-India relationship has entered a vibrant growth phase with bilateral trade on track to exceed $100 billion by 2020.”