DUBAI, United Arab Emirates - Sunday, April 24th 2011 [ME NewsWire]
Senior officials from Economic Zones World were recently invited to address an annual business meeting at the India Club, the oldest Indian business and cultural organization in Dubai, as part of a move to discuss further expansion of commercial ties between Jafza and India and to open up new avenues of co-operation and more investments in several key sectors.
Economic Zones World Chairman, Hisham Al Shirawi accompanied by senior management from EZW including Ibrahim Mohammed Al Janahi, Deputy CEO Jafza and Chief Commercial Officer met with top Indian businessmen who are part of the Board of Trustees and Board of Directors of the India Club.
Indiais Dubai’s largest trading partner. According to Dubai World’s Statistics Department, the non-oil trade between Dubai and India in 2010 reached a record AED183 billion, twice the figures achieved in 2009. Imports from the country were valued at AED 88 billion, 16% of Dubai’s total imports, while exports and re-exports stood at AED43 billion and AED52 billion respectively. Non-oil trade between Jafza and India was valued at AED12.77 billion in 2010, registering a jump of 25% compared to 2009 figures.
Economic Zones World is home to 693 Indian companies with 679 companies based in Jafza while the rest are in Ducamz and Textile City. Last year, there were 65,303 Indians working in the Jebel Ali Free Zone.
Commenting on the ever-increasing commercial ties between Dubai and India, Hisham Al Shirawi stated that the Indian business community in Dubai has been an important contributor of the domestic economy and played a vital role in the process of nation-building for decades. He was invited to the annual Member Networking Centre Lunch as Chief Guest Speaker where he talked to a group of 200 businessmen and community leaders.
Al Shirawi said: “As the region’s pioneering free zone, Jafza has consistently led the national drive to attract foreign investments. Dubaiand Jafza’s business-friendly policies and its highly developed and sophisticated infrastructure and logistics framework have attracted Indian companies since the free zone’s inception, 26 years ago. Our meeting with this established Indian organization is yet another step towards strengthening the existing relations with the country. EZW and India Club’s joint efforts will strengthen trade relations, facilitating, and opening channels for other Indian companies looking to do business in the region. We are exploring options, best approaches and practices to stimulate investment.
The India Club Board of Trustees includes 20 major companies such as Air India, Jumbo Electronics, K M Brothers, and Regal Traders among others. India Club has been awarded the ISO 9001:2000 accreditation Lloyds’ Register Quality Assurance and is also a member of the Dubai Quality Group.
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