Ajman Chamber Organizes "Ajman - India" Business Forum To Encourage Trade And Investment Cooperation,

Date: 21/02/2023


Ajman Chamber Organizes "Ajman - India" Business Forum To Encourage Trade And Investment Cooperation,

The Ajman Chamber of Commerce and Industry (ACCI) organized the "Ajman - India" Business Forum with a view to enhancing joint economic cooperation and discussing the development of intra-trade, exchanging experiences, best practices, and investment opportunities available in both Ajman and India. The Forum was held at the Ajman Saray Hotel and attended by Mohamed Ali Al Janahi, Executive Director of the Trade Development and International Relations Sector, Nasser Al Dhafri, Executive Director of the Member Support and Innovation Sector, Marwan Hareb Al Ariani, Director of the Promotion and International Relations Department, and Jamila Kajour, director of the Ajman Business Support Center at the Ajman Chamber. The Indian delegation was headed by Dr. Gunveena Chadha, Assistant Secretary General of the Federation of Indian Chambers of Commerce and Industry (FICCI), in the presence of a group of Indian investors and company owners. Ajman Free Zone and a group of owners of companies and factories from Ajman participated in the Forum. At the beginning of the Forum, Mohamed Al Janahi welcomed the attendees, and emphasized the importance of the Forum and its role in opening horizons for commercial cooperation, increasing mutual investments between Ajman and India, and creating a channel for communication between officials from the government agencies as well as business owners and investors in both countries, in light of the strong and deep-rooted strategic relations between the UAE and India and the provisions of the Comprehensive Economic Partnership Agreement (CEPA), which crowns economic relations and guarantees broader and more comprehensive economic cooperation between the both countries. He said: "Ladies and gentlemen, we affirm that the emirate of Ajman is keen to develop its relations from the Indian side and to provide all the supporting elements to attract investors, in light of Ajman's strong economic relations with India, so that the growth rate of the total trade volume between Ajman and India reached 15% in 2022. The rate of Indian investors and businessmen also increased to 10% in 2022 compared to 2021, amounting 7,935 investors in 2022. The most important sectors of establishments operating in Ajman for Indian investors and businesspersons, include "manufacturing industries, construction, professional, scientific and technical activities, and information and communications", as the number of establishments of Indian investors reached 5,798 establishments in 2022, with a growth rate of 17% compared to 2021. Al Janahi confirmed the emirate of Ajman has a unique investment attractiveness that has placed it on the map of the most prominent investment destinations in the UAE and the region, thanks to various investment opportunities in the sectors of industry, trade, tourism, education, health, and other sectors. For her part, Dr. Gunveena Chadha stressed the importance of the Forum and its role in enhancing cooperation, partnership, and exchange of experiences between owners and investors from India and Ajman. She also noted that the diversity of areas of Indian business owners and investors increases investment opportunities and trade exchange, especially since the delegation represents a wide range of sectors, including "Agriculture, food and beverages, chemicals, industry, wholesale and retail trade, and other sectors". Mohamed Abdullah, Sales Director at the Free Zones Authority in Ajman, presented an overview of the investment advantages of the free zones in Ajman and its integrated infrastructure that is attractive and enhances business sustainability and growth. He listed the most important operating sectors and competitive business solutions available in the Free Zones Authority. The Business Forum included the holding of bilateral meetings between attendees from both sides to discuss opportunities for cooperation and partnership and the possibility of benefiting from the opportunities available to both countries. The meeting concluded with the exchange of commemorative shields and souvenirs between Mohamed Ali Al Janahi and Dr. Gunveena Chadha.