Ras Al Khaimah woos Indian investments

Commenting on the seminar, Dr Khater Massaad, CEO of RAKIA, said, "India and the UAE share a long history of bilateral trade relations, and the two countries have a lot in common in terms of traditions and values. Indian businesses are also playing a pivotal role in Ras Al Khaimah, with around 30 per cent of the investments in RAKIA free zone and industrial zone coming from India through different manufacturing sectors. A specialised seminar like this serves as the perfect platform to highlight various investment avenues in Ras Al Khaimah."

Indo-UAE trade is today valued at over $18 billion, with the UAE emerging as the second largest market globally for Indian products. Indian exports to the UAE in 2006-07 stood at $10.67 billion, while UAE's exports to India during the same period reached $7.5 billion.

RAKIA recently established an 'Indian International Club' in Ras Al Khaimah for the benefit of Indian investors setting up operations in the emirate. The Investment Authority is also finalising plans to set up a gold souk and a Diamond Park to attract investments from Indian businessmen in the area of gold and diamond jewellery trading.