UAE | Government
Businessmen see vigour in age-old ties
Top business executives expect significant trade deals to result from the visit to New Delhi by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
- By Shakir Husain, Staff Reporter
- Published: 00:00 March 26, 2007
- Image Credit: Gulf News Archive
- "This shows the government's interest in developing our historical relations with India. I expect the flow of investments to grow," says Saif Ahmad Belhasa.
Dubai: Top business executives expect significant trade deals to result from the visit to New Delhi by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai.
The two-day official visit will inject new vigour in the UAE's long-standing relations with India.
"This shows the UAE government's interest in further developing our historical relations with India. I expect the flow of investments between the two countries to grow," said Saif Ahmad Belhasa, chairman of Saif Belhasa Group of Companies.
Belhasa, who has strong links with India and plans to invest in an Indian venture soon, said Shaikh Mohammad's visit will produce new economic opportunities.
Global reach
With India being one of the fastest growing economies in the world, Datamatix Group Managing Director Ali Al Kamali sees a strategic need for closer UAE-India relations.
Decades ago Indian traders used Dubai as a launch pad for their businesses, but today's modern Dubai can help Indian companies to reach out to the world, Al Kamali said.
"Shaikh Mohammad's visit to India is politically and economically significant. Several agreements are to be signed between the two countries that would further cement closer ties. We can expect a flood of joint ventures and investments," he added.
Indian companies top the number of foreign-owned businesses operating in the UAE.
"This visit by Shaikh Mohammad will surely strengthen the centuries-old India-Arab relations and also help investors from both countries to find new business opportunities," EMKE Group Managing Director Yousuf Ali said, adding that the occasion holds special significance for Indians living in the UAE.
Similar sentiments were expressed by Kamal Vachani, director of Al Maya Group and regional director of India's Electronics and Computer Software Export Promotion Council.
Achievements
"We are very proud and excited about the visit of Shaikh Mohammad," Vachani said.
B.R. Shetty, Vice-Chairman of NMC Group, said the occasion offers a chance for UAE and Indian officials to learn from each other's achievements in different fields.
"Shaikh Mohammad will be able to familiarise himself with India's success in high-tech industries and science and technology. On the other hand, India can learn a lot from Shaikh Mohammad's dynamism and entrepreneurship that have made Dubai a model for others to follow," he said.
The business community in the country are highly hopeful that the Vice-President's visit will boost bilateral trade between the two countries.
"This shows the government's interest in developing our historical relations with India. I expect the flow of investments to grow."
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