RAKEZ signs deal with Indian Economic Trade Organisation
Ras Al Khaimah Economic Zone (RAKEZ) currently has a community of nearly 5,000 Indian businesses, including renowned names.
Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Economic Trade Organisation (IETO) have signed a Memorandum of Understanding (MoU) to enhance trade and investment ties between India and the UAE.
The agreement aims to initiate trade missions and investment forums to help Indian businesses understand RAKEZ's offerings and connect with potential partners and investors in the UAE, according to Emirates News Agency.
RAKEZ currently has a community of nearly 5,000 Indian businesses, including renowned names.
“Our ties with Indian business entities are vital in strengthening UAE-India relations, which has been on the rise post the Comprehensive Economic Partnership Agreement (CEPA) of 2022," Ramy Jallad, CEO of RAKEZ Group, said, according to a statement.
"The latest MoU with IETO and our recent collaboration with the Indian Chamber of Food and Agriculture to boost bilateral agro-trade highlights our dedication to nurturing international business ties and enhancing trade avenues with key markets such as India,” he added.
The agreement suggests customised business services for Indian companies expanding into the MENA region, while RAKEZ will streamline market entry for Indian businesses in the UAE by navigating regulatory requirements and obtaining necessary licenses.
The MoU will provide Indian companies with networking and business matchmaking opportunities to interact with local and international stakeholders within RAKEZ.
RAKEZ Chief Commercial Officer Anas Hijjawi and IETO President Dr Asif Iqbal signed the agreement.
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Edited by Affirunisa Kankudti
