December 23, 2009 1:11 PM

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UAE to open trade office in India

The United Arab Emirates (UAE) will open a trade office in India. This was disclosed by UAE Minister of Foreign Trade, Shaikha Lubna bint Khalid Al Qasimi at the Federal National Council (FNC) session yesterday. Replying to a question of member of the FNC Sultan Saqr Al Suwaidi she said that the proposed office is designed to open more global markets to the UAE exports. UAE has already set up similar offices in the US, China and Switzerland. She also said that the chambers of commerce and industry of the country took part in the meetings in this regard apart from representatives of medium and small establishments. According to a weekly report of the UAE Ministry of Foreign Trade (MOFT) published yesterday, the UAE's non-oil trade exchange with India, in 2008, rose 48 percent from 2007. This reached around 32 billion dollars, accounting for 15 percent of the Emirates' total foreign trade. UAE's exports to India totalled 15.25 billion dollars of which 10.37 billion dollars are re-exporting while its imports from India reached 16.88 billion dollars.

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