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Joint working group is set up to boost economic ties with India

ABU DHABI — A joint working group has been set up to further strengthen the economic ties between UAE and India, especially its southern state of Kerala, to work out various new investment initiatives.

During his recent visit to the UAE, Elamaram Karim, Industry Minister of Kerala had talks with Dr. Mohammed Khalfan Kharbash, UAE Minister of State for Financial & Industrial Affairs to set up a working group to implement concrete proposals for investments in Kerala.

The two sides discussed various potential projects including a multi-billion dollar Petrochemical Complex which would house a refinery in Kasargode District in Kerala. Also under serious considerations are investments in electric power projects in Kannur and Kochi while opportunities in infrastructure and property development sectors are also being looked into.

Dr. Mohammed Khalfan Kharbash noted that "we in the UAE are very happy to participate in the Industrial and Commercial development of India especially Kerala, which I am sure will be mutually beneficial for both parties. I have already nominated a very high-level team to this working group including Yusuffali so that we can have a better understanding of the Kerala market and make it easier for all concerned."

The group consists of six members nominated by UAE Ministry of Finance & Industry and two from the Government of Kerala. Following are the nominated members:

UAE Team as nominated by Dr. Mohammed Khalfan Kharbash: Younis Haji Al Khoory, Secretary, Ministry of Finance & Industry; Jamal Nasser Lootah, Secretary, Industrial Sector, Ministry of Finance & Industry; Yusuffali M.A., Director Board Member, Abu Dhabi Chamber of Commerce & Industry; Dr. Hamad Nasr, Economic Expert, Ministry of Finance & Industries; Saeed Abdulla Al Roken, Director, Industrial Development Dept. Ministry of Finance & Industry and Ali Hamdan, Dy. Manager, Investment Department, Ministry of Finance & Industry.

The members from Kerala as nominated by Elamaram Karim, Industry Minister, Kerala, are: T. Balakrishnan, Principal Secretary, Industries & Commerce Dept. Govt. of Kerala and John Mathai, Managing Director, Infrastructure Kerala Limited. "Educated human resources, salubrious climate, constant interaction with foreign countries, etc., have all made Kerala a very investor-friendly destination," added Kareem. The joint working group is slated to meet soon to discuss further steps needed to go ahead with various projects. Working group member Yusuff ali MA opined that "the UAE is looking at investing in major projects and I sincerely hope the Kerala Government rises to the occasion and come up with mutually beneficial projects."