Arab and Indian leaders gathered at the third Arab-India Partnership Conference held in Abu Dhabi. The conference was organized by the Federation of Indian Chambers of Commerce and Industry in association with India’s Ministry of External Affairs, the Abu Dhabi Chamber of Commerce and Industry, the UAE’s Ministry of Foreign Affairs, and the League of Arab States.
Experts predict that India and Middle East trade will increase by 34 percent next year.
While emphasizing the focus on transferring knowledge from India, UAE’s Minister for Foreign Trade Sheikha Lubna Al Qasimi stated, “We’re very interested in cooperative ventures involving technology transfer and research and development to accelerate our transformation into a genuine knowledge-based digital society”.
India’s minister of state for external affairs, E. Ahmad commented at the conference, “Trade between India and the Arab world increased to $144 billion in 2010. Of this, India-UAE trade alone accounts for $67 billion, which is more than 46 per cent.”