RAKEZ And UICC Collaborate To Enhance UAE-India Economic Partnership Through MoU

The Ras Al Khaimah Economic Zone (RAKEZ) has entered into a Memorandum of Understanding (MoU) with the UAE-India CEPA Council (UICC). This agreement aims to enhance the economic partnership between the UAE and India. The MoU was signed by Yaser Abdulla Al Ahmed, RAKEZ's Chief Government and Corporate Relations Officer, and Ahmed Aljneibi, UICC Director, during the UAE-India Business Forum in Mumbai.

The MoU's primary goals are to increase awareness of the economic potential between the two nations and to emphasise the benefits of the UAE-India Comprehensive Economic Partnership Agreement (CEPA). It also seeks to strengthen economic, investment, and trade ties among private sector stakeholders. Through this agreement, RAKEZ and UICC plan to share information and explore opportunities for joint events to foster greater interaction among their members.

Ahmed Aljneibi, UICC Director, stated, "The signing of this MoU underlines the critical importance RAKEZ and the emirate of Ras Al Khaimah have played, and continue to play in the broader UAE-India bilateral partnership. The UICC is excited to work with RAKEZ in further promoting the benefits of the UAE-India CEPA, and the broader opportunities that exist in the bilateral economic, investment, and trade partnership between the two countries."

Ramy Jallad, CEO of RAKEZ Group, expressed that economic cooperation between the UAE and India is vital for both countries' growth. He remarked that this MoU with UICC is a crucial step in strengthening that connection. By supporting the UAE-India CEPA, they aim to create new business opportunities on both sides, fostering innovation, trade, and investment.

This collaboration will enable RAKEZ to facilitate connections within its business ecosystem. It aims to help more Indian companies thrive and expand their operations in Ras Al Khaimah. This will contribute to mutual economic success for both nations. The MoU builds on ongoing efforts under the UAE-India CEPA to further enhance trade and investment ties.

Both RAKEZ and UICC are dedicated to aligning their resources to elevate economic relations between the UAE and India. India remains a significant market for RAKEZ as it already hosts over 6,000 Indian investors. This partnership seeks to take these relations to new heights by leveraging existing momentum.

The agreement signifies a commitment from both parties to deepen their collaboration. By working together, they aim to unlock potential opportunities for businesses in both countries. This initiative is expected to drive innovation while strengthening trade and investment links.

With inputs from WAM