The Sharjah Chamber of Commerce and Industry (SCCI), led by its Sharjah Exports Development Center, will be organising a trade mission to India from May 29, 2023, to June 2, 2023. Led by HR Abdullah Sultan Al Owais, chairman of the SCCI, the mission aims to strengthen economic and trade cooperation, faster mutual investment, and establish promising partnerships between Sharjah and India.
The delegates, including private industrial and commercial entities in Sharjah, will showcase the benefits, incentives, and investment opportunities to attract potential foreign investors to set up businesses and incentivize the Indian business community to invest in sectors aligned with Sharjah's economic vision and developmental goals. "Mumbai and New Delhi are the mission's primary destinations. Business forums there will facilitate interactions between officials and leaders from both nations' Chambers of Commerce and Industry, and foster new mutual understandings," the press statement said. It will also include events and meetings to identify investment opportunities and cultivate economic partnerships between UAE and India.
It added that the trade mission is expected to support the chamber's strategic goals of "driving foreign expansion and exploring new markets for the benefit of the Sharjah business community and its chamber members. The assignment follows the establishment of the New Indian Professional Business Council in Sharjah. The mission will also actively contribute to the goals outlined in the Comprehensive Economic Partnership Agreement (CEPA) between the UAE and India, effective from May 1, 2022, which has shown positive effects. The CEPA seeks to facilitate increased trade flows between the two nations, stimulate key export sectors, and bolster industrial production across multiple industries, fostering a mutually beneficial partnership. The press release noted that the value of non-oil intra-trade surged to US$45.5 billion in the first 11 months, an annual increase of 6.9 per cent over the corresponding period.