RAKEZ Partners with UICC to Enhance UAE-India Economic Ties

Ras Al Khaimah, 20 September 2024: The Ras Al Khaimah Economic Zone (RAKEZ) has signed a Memorandum of Understanding (MoU) with the UAE-India CEPA Council (UICC), marking a significant step in strengthening the UAE-India bilateral economic partnership.

RAKEZ Chief Government and Corporate Relations Officer Yasser Abdullah Al Ahmed and UICC Director Ahmed Aljneibi signed the MoU. The signing ceremony took place at the UAE-India Business Forum in Mumbai, India.

The main objectives of the MoU are to raise awareness of the economic potential between the two countries, highlight the tangible benefits of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), and foster deeper private-to-private economic, investment and trade ties. Partners in the region. Through this MoU, RAKEZ and UICC will exchange information and explore opportunities for joint events with the aim of promoting greater interaction between their members.

UICC Director Ahmed Aljneibi highlighted, “The signing of this MoU underscores the critical importance that Raqqas and the Emirate of Ras Al Khaimah have played, and continue to play, in the broader UAE-India bilateral partnership. UICC is excited to work with Rakes to further promote the benefits of the UAE-India CEPA and the vast opportunities that exist in bilateral economic, investment and trade partnerships between the two countries.

RAKEZ Group CEO Rami Jallad said, “UAE-India economic cooperation is a cornerstone of both countries’ growth paths and this MoU with UICC is an important step towards deepening that relationship. By contributing to the UAE-India CEPA, we aim to open up new opportunities for business, innovation, trade and investment on both sides. Through this partnership, we will facilitate connections that will enable more Indian companies to thrive, expand their operations and contribute to mutual economic success and strengthen its business ecosystem.

The MoU builds on the ongoing momentum of the UAE-India CEPA, which aims to further advance trade and investment relations between the two countries. RAKEZ and UICC are committed to align their efforts and resources to take the UAE-India economic relationship to exciting new heights.

India is a key market for Rackasin, which is already home to more than 6,000 Indian investors. Leading companies like Ashok Leyland, Dabur, Sejal Glass, Bosco Aluminium, Royal Gulf Industries, Mahindra and many others operating in various sectors thrive in Ras Al Khaimah due to its favorable business climate, proximity to major transport hubs and advanced infrastructure. . In addition, the UAE-India CEPA and a wide network of free trade agreements (FTAs) offer these investors unique opportunities for market expansion and global expansion.