SHARJAH, 7th September, 2018 (WAM) — Abdulla Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, SCCI, held discussions with a delegation from India’s Federation of Karnataka Chambers of Commerce and Industry, FKCCI, headed by Sudhakar S. Shetty, President of FKCCI, where they reviewed ways to enhance economic and trade relations between Sharjah and Karnataka.
The discussions took place during a meeting at the headquarters of the SCCI on Wednesday, in the presence of Mohamed Ahmed Amin, Acting Director-General of the SCCI. The two sides discussed the prospects of joint cooperation between the chamber and the federation, which would contribute to empowering the private sectors of both countries to take advantage of the available investment opportunities.
The meeting also included a discussion on the possibility of the SCCI’s participation in the activities of the “ASEAN plus three economic framework” conference, which will be held in the 4th quarter of 2019 in Bengaluru. The chamber has affirmed that it will cooperate in introducing this conference to those members wishing to participate in the event.
Al Owais emphasised the importance of the relationship between the UAE and India, which has resulted in remarkable developments in various fields. He remarked that Sharjah is keen to enhance these ties and develop them even further through a mutual pursuit to enhance communication and cooperation, as well as implementing investment projects between the Emirati and the Indian business communities that help to serve the interests of both friendly countries and lead them to further success and prosperity.
Al Owais reviewed the investment opportunities that Sharjah offers to foreign businesspeople and investors, in addition to modern logistics services, a pioneering banking system, laws and legislation that encourage business, and a modern infrastructure. He also pointed out that the chamber is keen to support investors with all means possible and to help them overcome the obstacles they face, as well as offer them various incentives and facilities.
Shetty praised the friendly relations between India and the UAE and between Karnataka and Sharjah. He also praised the sustainable development that is being witnessed in Sharjah and the prominent status that the emirate has achieved as a leading economic centre in the region, in addition to the various facilities offered by the emirate to Indian businesspeople.
Shetty stated that the FKCCI is keen to enhance cooperation with the SCCI, in order to develop trade between his state and Sharjah. He extended an invitation to businesspeople in Sharjah to take advantage of the various investment opportunities offered in Karnataka, which is considered the 8th largest Indian state in terms of size and the ninth largest in terms of population. He also pointed out that Bengaluru, which is the capital of Karnataka, is considered the third largest city in India and one of the fastest economically growing states in the country.
The UAE is considered India’s third-largest trading partner, while India is considered the largest trading partner of the UAE. The volume of trade between the two countries reached AED53 billion during 2016-2017.