SHARJAH, UAE – The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to India from May 29 to June 2, 2023.
Led by the SCCI’s Sharjah Exports Development Center, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising partnerships between Sharjah and India.
Abdullah Sultan Al Owais, Chairman of the SCCI, will lead the mission. The mission will also include SCCI officials and heads of major private industrial and commercial entities in Sharjah.
The upcoming trade mission is expected to support the chamber’s strategic goals of driving foreign expansion and exploring new markets for the benefit of the Sharjah business community and its chamber members.
It will also enhance the importance of local products in the global market while also contributing to the realization of the goals outlined in the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India, which became effective from May 1, 2022.
The CEPA seeks to facilitate increased trade flows between UAE and India, stimulate key export sectors, and bolster industrial production across multiple industries, fostering a mutually beneficial partnership.
Investment opportunities
Over five days, the trade delegation will showcase the benefits and investment opportunities available to attract foreign investors and incentivize the Indian business community to invest in Sharjah.
Mumbai and New Delhi are the mission’s primary destinations. Business forums there will facilitate interactions between officials and leaders from both nations’ Chambers of Commerce and Industry and foster new mutual understandings.
The program will also include events and meetings to identify investment opportunities and cultivate economic partnerships between the UAE and Indian business communities.
This mission follows the February 2023 establishment of the New Indian Professional Business Council in Sharjah.
The council, launched under the SCCI, is part of a broader initiative to set up business councils representing businessmen to strengthen cooperation and boost trade and investment volumes with friendly nations.
Following the activation of CEPA, trade and investment between the UAE and India have seen significant positive effects.
The value of non-oil intra-trade surged to US$45.5 billion in the first 11 months — an annual increase of 6.9 percent over the corresponding period.