India-UAE Bilateral Trade to Exceed $100 Billion by 2020

first_imgIndia’s relationship with the United Arab Emirates (UAE) has entered a vibrant growth phase with bilateral trade expected to exceed $100 billion by 2020, key speakers at the 2018 Dubai Global Convention said on April 17, Khaleej Times reported.“India is an important demographic and economic powerhouse in Asia and investments between the two countries exceed billions. This convention will take the India-UAE relationship a step further as both countries explore ways to enhance business ties, intensify economic cooperation and increase innovation and entrepreneurship in sectors of mutual interest,” Abdulla Al Saleh, Undersecretary, Foreign Trade and Industry, Ministry of Economy, said in his inaugural address, as per the report.Al Saleh added that India is the first trading partner for the UAE. “In 2017, trade relations between the UAE and India reached $53 billion, of which $35 billion is non-oil trade. The UAE is the third largest foreign trade partner to India after China and United States,” he added.He pointed out that UAE has invested more than $5 billion in India through foreign direct investment stock till the end of 2017. India was also the second largest direct investor in UAE at the end of 2016 with $6.6 billion, he explained, as per the report.“In the beginning, foreign trade and oil and gas were the focal point of the India-UAE relationship. But today, this has diversified to include many new sectors following the recent high-level visits of UAE and Indian leaders,” Al Saleh said.During the inaugural session, a Memorandum of Understanding was signed between the Institute of Directors (IOD), India, and Dubai Multi Commodities Centre (DMCC) to further strengthen the support between the two institutions.In March 2018, Anwar Mohammad Gargash, Minister of State for Foreign Affairs of UAE, met Sushma Swaraj, India’s External Affairs Minister, and other top officials in New Delhi. The two countries discussed strategic ties and ways to enhance cooperation and joint coordination on regional and global issues. UAE’s ambassador to India Ahmad Abdul Rahman Al Banna was also a part of the meeting.The two countries also have a “shared interest” in combating terror and this brings the two nations closer, UAE Minister of State for Foreign Affairs Anwar Mohammed Gargash had said in March 2018 in New Delhi. Related ItemsIndiaUAElast_img read more

Travelling like a fella to Melb Peru

first_imgTop 29 Cities for MenImage Source: AskMen Australia’s cultural capital has ranked tenth behind powerhouses such as London, New York and Rio in AskMen’s fourth annual ‘Top 29 Cities for Men’ 2012.As part of the AskMen study, men found Melbourne’s ‘buzzing night life’ and sports scene was key to drawing in the fellas while popular city, Sydney failed to even garner a showing.   AskMen Australian editor Jamie Watt said he understood the appeal behind Melbourne, which managed to steal attendance from both local and international males. London took top spot, with men declaring it “the centre of the world”, while Peru’s capital Lima was described as “the next sexy South America city you’ve never been to” and ranked in at number 13.“From Olympic fever in London (#1), to the adventure of a lifetime in Mumbai (#2), to preparing to be the most watched city on earth in 2014 – thanks to Rio (#3) hosting the Soccer World Cup and of course, enjoying ‘the beach party of your dreams’ in Cartagena (#7) – when it comes to this year’s ‘Top 29 Cities for Men’ it’s all about world sporting spectacles, soaking up the sun, partying and enjoying the foodie factor in exotic locations,” an AskMen representative said. Vietnam’s Ho Chi Minh (#14) was also incorporated into the list this year “because the food keeps getting better” as well as Cartagena in Spain for hosting the “beach part of your dreams”. Source = e-Travel Blackboard: P.Tlast_img read more