UAE-India trade continues to expand

01/10/2010 - Dubai Investment News
Dubai property investment opportunity - The First Group
UAE-India trade continues to expand

Posted by Bob Brunskill

The UAE has been named as the largest trading partner of India.

Indian government statistics have revealed that two-way trade between the countries hit $44.5 billion last year, Gulf News reported.

The growth means that the UAE is now ahead of the US, China, Russia, Japan, Germany, France and the UK in terms of India's largest trading partners.

Commenting on the result, Paras Shahdadpuri, president of the Indian Business and Professional Council (IBPC), said: "This is thanks to the strong and sustained economic ties between the two countries and the joint efforts of the private public partnership in which the Indians living in UAE have taken a very active part."

Speaking to Gulf News, he also claimed that Indians are playing a major investment role in the UAE and own the highest number of businesses compared to other nationalities.

Earlier this week, it was reported that the Dubai Export Development Corporation is to open its first overseas trade office in Germany as it looks to boost the international standing and competitiveness of UAE exporters.

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