UAE and A.P. explore greater economic and investment engagement
The UAE was willing to support the Andhra Pradesh government’s investment and development agendas, Abdulnasser Alshaali asserted.
UAE Abdulnasser Alshaali, Industries Minister T.G. Bharat and other dignitaries at the roundtable meeting organized by the UAE Embassy in Vijayawada on Thursday
Abdulnasser Alshaali, UAE Ambassador to India, underlined the centrality of Andhra Pradesh (AP) in the UAE-India strategic partnership, and the need to make all efforts to increase people-to-people, economic and investment engagement.
Addressing an economic and investment roundtable convened by the UAE Embassy, New Delhi, in collaboration with the UAE-India CEPA Council (UICC) and the Government of A.P., which he co-chaired with Andhra Pradesh Industries and Commerce Minister T.G. Bharat, here on Thursday, Mr. Alshaali said to increase the people-to-people engagement and spur direct investments, improving air connectivity between the UAE and Andhra Pradesh was critical, and pointed out that the UAE carriers were operating 35 direct flights per week to Vijayawada, Visakhapatnam and Tirupati.
Direct air links with UAE would not only provide better consumer choice and economic opportunities for the people of AP but also enhance the State’s position as a vital regional and international aviation hub. The UAE was willing to support the AP government’s investment and development agendas, Mr. Alshaali asserted.
The Ambassador congratulated Chief Minister N. Chandrababu Naidu on the NDA partners’ victory in the general elections, and affirmed the UAE Government’s desire to foster a tangible engagement with AP across all facets of the bilateral partnership.
He further said Andhra Pradesh’s exports to the UAE in FY 2023- 24 stood at $0.42 bn, which was 1.19% of total exports to the UAE, and Andhra Pradesh’s imports from the UAE during the year were US $ 1.04 bn accounting for 2.17% of total imports from the UAE. The State’s total trade with the UAE was $ 1.46 bn, which was 1.75% of total trade with the UAE, whose direct investment in Andhra Pradesh from October 2019 – June 2023 was US $ 9.28 million. Andhra Pradesh has been ranked as the UAE’s 11th largest trading partner among India’s 28 States and eight Union Territories.
UICC Director Ahmed Aljneibi gave an overview of the UAE-India Comprehensive Economic Partnership Agreement (CEPA) and highlighted the ability of Andhra Pradesh’s business community to leverage not only this agreement (CEPA) but also other recent bilateral initiatives to expand their investment presence in the UAE.
During the roundtable, several UAE companies outlined their investment plans in both Andhra Pradesh and India broadly. It was followed by an interactive session that was focused on agriculture and food processing, aviation and aerospace, biotechnology, electronics and IT, automotives, petroleum and petrochemicals, and shipping, logistics, and ports sectors.
Apart from the delegates from the UAE Embassy and officials of the UICC, representatives from UAE companies namely Abu Dhabi Ports, Air Arabia, Aramex, DP World, DUCAB, Emaar, Emirates Airlines, Emirates NBD, FlyDubai, the Lulu Group and Tabreed took part in the deliberations.
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