RAKEZ and Indian Chamber of Commerce Sign MoU For UAE-India Economic Ties

A Memorandum of Understanding (MoU) was signed by Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Chamber of Commerce (ICC) to improve business opportunities and encourage economic growth between the UAE and India.

RAKEZ Group CEO Ramy Jallad and ICC Regional Director Ratheesh Nair signed the memorandum of understanding. Through the ICC's network, RAKEZ is connected to the vast Indian business community, and the partnership provides ICC members with valuable opportunities to interact with and develop in the UAE market.

Commenting on the partnership Jallad said, “This collaboration with the Indian Chamber of Commerce represents a strategic milestone for RAKEZ as we continue to support and facilitate the growth of Indian businesses in the UAE. Our active efforts in promoting the Comprehensive Economic Partnership Agreement (CEPA) with India through roadshows, investor meets, and regular exchanges, have laid a strong and reliable foundation for developing and maintaining partnerships with more Indian business groups.”

The Indian Chamber of Commerce (ICC) plays a crucial role in promoting trade, industry, and commerce within India, particularly in the Eastern and North Eastern regions. It has also established a framework of cooperation with the UAE-India CEPA Council, enhancing its role in facilitating bilateral trade.

Highlighting the significance of the partnership, ICC Director General Dr. Rajeev Singh said, “The UAE and India have long enjoyed a dynamic trade relationship. This MoU with RAKEZ opens new doors for our members and Indian entrepreneurs to explore and establish their presence in one of the fastest-growing economic zones in the region. We are excited about the prospects this partnership holds for Indian enterprises."