Vijayawada (Andhra Pradesh) [India], August 2 (ANI): The UAE Embassy in India, in collaboration with the UAE-India CEPA Council (UICC) and Andhra Pradesh government, convened an economic and investment roundtable in Vijayawada, during which the dignitaries explored greater economic cooperation between UAE and the state of Andhra Pradesh, informed a release on Thursday.
The event was co-chaired by UAE Ambassador to India, Abdulnasser Alshaali, and Andhra Minister for Minister for Industries and Commerce and Food Processing, TG Bharath.
UAE participants at the roundtable included Ahmed Aljneibi, the Director of the UICC, as well as representatives from UAE companies; Abu Dhabi Ports, Air Arabia, Aramex, DP World, DUCAB, Emaar, Emirates Airlines, Emirates NBD, FlyDubai, the Lulu Group, and Tabreed.
From the Andhra Pradesh side, 50 senior government officials and company representatives were present at the event.
Speaking on the occasion of the roundtable, the UAE envoy, Alshaali underlined the centrality of Andhra Pradesh within the UAE-India strategic partnership, and the need to exert all efforts to increase people-to-people, economic, and investment engagement.
“It is essential to increase the level of economic and investment collaboration between the UAE and Andhra Pradesh. The participation of more than 10 major UAE companies at this roundtable strongly attests to the significance of Andhra Pradesh, and the UAE’s willingness to support the state government’s ambitious investment and developmental agendas,” he said.
The Ambassador went on to highlight that improving air connectivity between the UAE and Andhra Pradesh was critical to increase people-to-people engagement and to spur direct investment.
It was underlined that UAE carriers could undertake up to 35 direct flights per week to Vijayawada, Visakhapatnam, and Tirupati, which would allow for an increase in over 500,000 passengers per annum to Andhra Pradesh’s airports. Direct air links between the UAE and Andhra Pradesh would not only provide increased consumer choice and economic opportunities for the people of Andhra Pradesh but also enhance the state’s position as a vital regional and international aviation hub, the release stated.
The UAE envoy, while speaking to ANI, said that the UAE is keen to make investments in Andhra Pradesh and is looking into the areas of connectivity and aviation.
He also emphasised that trade between the state and the Gulf nation has risen by 15 per cent and people from Andhra make up the top percentage of Indians living in UAE.
“I had an excellent meeting with the new CM. We also have a sizeable business delegation comprising of UAE companies who are keen on pursuing previous investments in the state as well as exploring new investment opportunities. We want to see how we can improve connectivity to the state, especially aviation…People of Andhra Pradesh make the top percentage of Indians living in UAE,” Alshaali said.
“We want to have even stronger ties with the state. Today Andhra is ranked 11th in its trade with the UAE and this does not reflect the true potential of it as a state…We are looking at opportunities in the film industry, to make the lives of the people of Andhra easier, to improve connectivity between Andhra and UAE, and to invite people of other states to Andhra and see what it has to offer to the world. Bilateral trade has increased by more than 15 per cent,” he added.
Further at the event, Aljneibi, the Director of the UICC, provided participants with an overview of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) and highlighted the ability of Andhra Pradesh’s business community to leverage not only this agreement but also other recent bilateral initiatives to expand their investment presence in the UAE.
During the roundtable, several UAE companies outlined their investment plans in both Andhra Pradesh and India more broadly.
An interactive discussion was also held between participants from both sides, with cooperation in a range of sectors canvassed, including agriculture and food processing, aviation and aerospace, biotechnology, electronics and IT, automotive, petroleum and petrochemicals, and shipping, logistics, and ports.
During his visit to Andhra Pradesh, Ambassador Alshaali also met Andhra Pradesh Chief Minister, Chandrababu Naidu.
Alshaali congratulated CM Naidu on his recent appointment as Chief Minister of Andhra Pradesh and affirmed the UAE government’s desire to expand tangible engagement with the state across all facets of the bilateral partnership.
Notably, Andhra Pradesh ranked as the UAE’s 11th largest trading partner among India’s 28 states and eight union territories, with total trade reaching USD 1.46 billion for the 2023-2024 fiscal year, as per the release.
Over this same period, bilateral trade between the UAE and India stood at 83.64 billion. The UAE is India’s second-largest export destination, third-largest trading partner, and fourth-largest investor. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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