RAKEZ and UICC Sign MoU to Strengthen UAE-India Economic Partnership
September 20, 2024
The Ras Al Khaimah Economic Zone (RAKEZ) has signed a Memorandum of Understanding (MoU) with the UAE-India CEPA Council (UICC), a significant step in strengthening the UAE-India bilateral economic partnership.
Ahmad Aljneibi, director of UICC, and Yasser Abdullah Al Ahmed, chief government and corporate relations officer of RAKEZ, signed the memorandum of understanding.
The signing ceremony took place during the UAE-India Business Forum in Mumbai, India.
The main objectives of the MoU are to create 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 economic, investment and trade ties between the private sectors. Partners. Through this MoU, RAKEZ and UICC will exchange information and explore opportunities for joint events, aimed at promoting greater interaction among their members.
UICC Director Ahmad Aljneibi said, “The signing of this MoU underlines the vital importance of RAKEZ and the Emirate of Ras Al Khaimah and continues to play in the broader UAE-India bilateral partnership. UICC is excited to work with RAKEZ to further leverage the benefits of the UAE-India CEPA and the vast opportunities that exist in bilateral economic, investment and trade partnerships between the two countries.
Rami Jallad, CEO of RAKEZ Group, said, “UAE-India economic cooperation is a cornerstone of the development paths of both countries and this MoU with UICC is a significant step in deepening that connection. By contributing to the UAE-India CEPA, we aim to open up new opportunities for businesses on both sides, encouraging innovation, trade and investment. Through this partnership, RAKEZ will facilitate linkages and contribute to mutual economic success, and strengthen its business environment where Indian companies can thrive and expand their operations.
The MoU builds on the ongoing momentum of the UAE-India CEPA, aimed at further advancing trade and investment relations between the two countries. Both RAKEZ and UICC are committed to aligning their efforts and resources to elevate the UAE-India economic relationship to exciting new heights.
India is a key market for RAKEZ, which already has 6,000 Indian investors.