UAE, India look to double trade to at least $100B over five years
Al Jazeera
The UAE is trying to burnish its credentials as a hub for business in the face of growing competition from Saudi Arabia.
The United Arab Emirates and India are seeking to more than double non-oil trade to at least $100 billion over five years as the Gulf Arab state works to deepen ties with fast-growing economies beyond the Middle East.
The two governments are set to start talks on an economic pact aimed at boosting business, investment and jobs, UAE Minister of State for Foreign Trade Thani Al Zeyoudi said on a visit to New Delhi for talks with Indian Commerce Minister Piyush Goyal.
“Both sides have drawn up a very aggressive and ambitious time-frame and aim to conclude negotiations by December 2021,” Goyal said at a press conference on Wednesday. “We hope to sign formal agreements in early 2022.”
