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UAE, India Trade relations are strong: Shaikha Lubna

India has become the first trade partner of the UAE in the world with the total value of the bilateral trade standing at about $ 45bn in 2009 according to preliminary estimates. This was a significant growth in trade compared to the worth of $32 billion dollars in 2008.

Addressing a group of Indian journalists at the end of a promotional tour made by a UAE delegation headed by the minister covering four major Indian cities including New Delhi, Mumbai, Hyderabad and Bangalore, Shaikha Lubna said that the bolstering of trade and investment relations between UAE and India owe a great deal to the directions of the UAE’s foreign trade policies.

There exists vast opportunities on both sides because of the large and diverse potentials in their economies. This will contribute to the promotion of the overall development and economic growth in both countries, she added.

The Minister hailed the great success of the promotional tour organized by the Ministry of Foreign Trade leading more than 40 delegates representing various federal and local government bodies and the UAE Federation of Chambers of Commerce and Industry.

The delegation also consisted of representatives from local chambers of various emirates as well as from foreign and private companies and international financial institutions operating in the country.

She said that the six-day tour created opportunities to identify vast prospects for joint investment cooperation between the two sides, benefiting mutual relations between the two countries in the short and medium terms.