Date: 30/01/2023
The Ajman Chamber of Commerce and Industry (ACCI) participated in the official delegation of the UAE to visit the Republic of India and participate in the B20 India Inception Meeting, a global platform to discuss prospects for cooperation and partnership between countries in the presence of a group of senior officials, policymakers, business leaders, and representatives of major private sector institutions to develop recommendations and future visions for reviewing at the G20 Summit 2023 in India. H.E. Marwan Hussein Al Shaali, Member of the Board of Directors of the Ajman Chamber, participated in the Meeting, as he stressed the importance of the Meeting and its role in anticipating the future of business between the UAE and India in particular and between the G20 countries in general. He explained that the meetings dealt with the industrial sector and opportunities for increasing economic recovery and trade exchange between countries, the importance of digital cooperation between countries, and stimulating innovations in supporting the global economic sector, as well as the importance of increasing investment in the data economy. Marwan Al Shaali praised the efforts of the UAE to enhance the international presence of the chambers of commerce and industry under the umbrella of the UAE Federation of the Chambers of Commerce and Industry (FCCI), stressing that the Ajman Chamber is keen to participate in various external economic events and meetings with the aim of developing a network of renewed global economic relations to support opportunities for expansion, business development, and promotion of the emirate as an ideal destination for investment in addition to looking forward to the future of the economy and the formation of effective international companies. The visit included discussions of economic cooperation opportunities with officials of the Indian state of Gujarat, as Al Shaali praised the deep-rooted Emirati-Indian relations between the two countries, and the extent of the diversity of economic opportunities available to develop the volume of intra-trade and attract investors, especially in light of the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India. He stated that the total volume of trade between the UAE and India during the year 2021 reached more than AED 164 billion, while the growth rate of the total volume of trade between Ajman and India reached 15% in 2022. The number of Indian investors and businesspersons in Ajman reached 7,935 investors in 2022, with a growth rate of 10% compared to 2021, and the number of establishments of Indian investors reached 5,798 establishments in 2022, with a growth rate of 17% compared to 2021, to lead the most important sectors of establishments operating in Ajman for Indian investors and businessperson, including "manufacturing industries, construction, professional, scientific and technical activities, and information and communications"