UAE and Andhra Pradesh Discuss New Investment Opportunities
The UAE Embassy in India, in collaboration with the UAE-India CEPA Council and the Andhra Pradesh government, organized an economic and investment roundtable in Vijayawada. The event aimed to explore greater economic cooperation between the UAE and Andhra Pradesh.
Key Figures and Participants
The roundtable was co-chaired by UAE Ambassador to India, Abdulnasser Alshaali, and Andhra Minister for Industries and Commerce and Food Processing, TG Bharath. UAE participants included Ahmed Aljneibi, Director of the UICC, and representatives from major UAE companies like Abu Dhabi Ports, Air Arabia, Aramex, DP World, and more. From Andhra Pradesh, 50 senior government officials and company representatives attended.
Focus on Economic Cooperation
Ambassador Alshaali emphasized the importance of Andhra Pradesh in the UAE-India strategic partnership. He highlighted the need to increase economic and investment collaboration, noting that over 10 major UAE companies participated in the roundtable. Improving air connectivity was also discussed, with the potential for UAE carriers to operate up to 35 direct flights per week to Vijayawada, Visakhapatnam, and Tirupati.
Investment and Trade
Alshaali mentioned that trade between Andhra Pradesh and the UAE has risen by 15%, and people from Andhra Pradesh make up a significant percentage of Indians living in the UAE. He expressed the UAE’s interest in investing in various sectors, including connectivity and aviation. The UAE aims to strengthen ties with Andhra Pradesh, which is currently ranked 11th in trade with the UAE among Indian states.
Future Plans
Ahmed Aljneibi provided an overview of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) and discussed how Andhra Pradesh’s business community could leverage this agreement. Several UAE companies outlined their investment plans in Andhra Pradesh and India. The roundtable also included discussions on cooperation in sectors like agriculture, aviation, biotechnology, electronics, and more.
Meeting with Chief Minister
During his visit, Ambassador Alshaali met with Andhra Pradesh Chief Minister Chandrababu Naidu. He congratulated CM Naidu on his recent appointment and affirmed the UAE’s desire to expand engagement with the state. Andhra Pradesh is the UAE’s 11th largest trading partner among Indian states, with total trade reaching USD 1.46 billion for the 2023-2024 fiscal year.
Doubts Revealed
UAE -: UAE stands for the United Arab Emirates, a country in the Middle East known for its rich oil reserves and modern cities like Dubai and Abu Dhabi.
Andhra Pradesh -: Andhra Pradesh is a state in the southeastern part of India, known for its rich culture, history, and agriculture.
Investment Opportunities -: Investment opportunities refer to chances for people or companies to put their money into projects or businesses to make more money.
UAE Embassy -: An embassy is a group of people from one country who live in another country to help their citizens and improve relations between the two countries. The UAE Embassy in India helps people from the UAE who are in India and works to make UAE and India friends.
UAE-India CEPA Council -: CEPA stands for Comprehensive Economic Partnership Agreement. The UAE-India CEPA Council is a group that works to make trade and business easier between the UAE and India.
Economic Roundtable -: An economic roundtable is a meeting where people discuss money, business, and ways to improve the economy.
Vijayawada -: Vijayawada is a city in Andhra Pradesh, India, known for its temples and as a major business center.
Co-chaired -: Co-chaired means that two people are in charge of leading a meeting or event together.
UAE Ambassador Abdulnasser Alshaali -: An ambassador is a person who represents their country in another country. Abdulnasser Alshaali is the UAE’s ambassador to India.
Andhra Minister TG Bharath -: A minister is a person in the government who is in charge of a specific area, like health or education. TG Bharath is a minister in the Andhra Pradesh government.
Air Connectivity -: Air connectivity means how well different places are connected by airplane flights.
Bilateral Trade -: Bilateral trade is the exchange of goods and services between two countries.
