· The mission set to establish new partnerships and explore promising markets for the local business community.
· Mission features SCCI officials and heads of major private industrial and commercial entities in Sharjah.
The Sharjah Chamber of Commerce and Industry (SCCI) announced it will be sending a trade mission to India from May 29 to June 2. Led by the SCCI’s Sharjah Exports Development Center, the initiative aims to bolster economic and trade cooperation, foster mutual investment, and establish promising partnerships between the Emirate of Sharjah and India.
HE Abdullah Sultan Al Owais, Chairman of the SCCI, will lead the mission, which will also feature SCCI officials and heads of major private industrial and commercial entities in Sharjah.
The upcoming trade mission is expected to support the chamber’s strategic goals of driving foreign expansion and exploring new markets for the benefit of the Sharjah business community and its chamber members.
It will also enhance the emirate’s competitive standing by highlighting the importance of local products in global market while also actively contributing to the realization of the goals outlined in the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India, which became effective on May 1, 2022. The CEPA seeks to facilitate increased trade flows between the two nations, stimulate key export sectors, and bolster industrial production across multiple industries, fostering a mutually beneficial partnership.
Over the course of five days, the trade delegation will showcase the benefits, incentives, and investment opportunities available in Sharjah to attract potential foreign investors to set up businesses there and incentivize the Indian business community to invest in sectors aligned with Sharjah’s economic vision and sustainable development goals.
Mumbai and New Delhi are the mission’s primary destinations. Business forums there will facilitate interactions between officials and leaders from both nations’ Chambers of Commerce and Industry, and foster new mutual understandings. The program will also include events and meetings designed to identify investment opportunities and cultivate economic partnerships between the UAE and Indian business communities.
This mission follows the February 2023 establishment of the New Indian Professional Business Council in Sharjah. The council, launched under the auspices of the SCCI, is part of a broader initiative to set up business councils representing businessmen to strengthen bilateral cooperation and boost trade and investment volumes with friendly nations.
Following the activation of the Comprehensive Economic Partnership Agreement, trade and investment between the UAE and India have seen significant positive effects. The value of non-oil intra-trade surged to $45.5 billion in the first 11 months—an annual increase of 6.9% over the corresponding period.