Rakez and All India Association of Industries Forge Trade Partnership

UAE, 11 July, 2024 :  Ras Al Khaimah Economic Zone (Rakez) has signed a Memorandum of Understanding (MoU) with The All India Association of Industries (AIAI) to enhance mutual trade and investment opportunities.

The MoU, signed by AIAI President Dr. Vijay Kalantri and Rakez Group CEO Ramy Jallad at World Trade Center Mumbai, aims to facilitate Indian enterprises exploring opportunities in Ras Al Khaimah. It seeks to stimulate business growth, foster cooperation, and create synergies for development in both regions.

Kalantri emphasized the collaboration's alignment with the Comprehensive Economic Partnership Agreement (CEPA), highlighting its potential to strengthen economic ties between India and the UAE.

Jallad described the alliance as a strategic move to attract more Indian investors to Ras Al Khaimah, leveraging the emirate's business-friendly environment and strategic location. The initiative aims to support long-term economic growth and deepen bilateral relations.

During the MoU signing, Rakez senior leadership engaged in business-to-business (B2B) meetings with key Indian companies across sectors like electric vehicles, plastics, food and beverage, real estate, and chemicals.

Rakez hosts approximately 6,000 Indian companies, including leading firms like Ashok Leyland, Dabur, and Mahindra, contributing significantly to its diverse economic landscape. These companies benefit from Rakez's strategic partnerships and support services, enhancing their operations in the UAE.

The partnership underscores the UAE's role as India’s third-largest trading partner and second-largest export destination, reflecting robust bilateral trade relations. Rakez continues to actively promote CEPA objectives through B2B engagements and new collaborations.

Source : www.zawya.com