Salim Al Junaidi, Deputy Chairman, Oman Chamber of Commerce in his speech said that both India and Oman had a history of business relations for the last 5,000 years. “This relationship has only got stronger since the year 1955. There is a 1.8 billion USD Indian investment in the special economic zone in the Duqm city of Oman,” Junaidi said.
Similar views were expressed by Juma Al Kaid, under-secretary in the United Arab Emirates (UAE) Ministry of Commerce. Kaid said that India was next to only USA and China, as one of the three major trade partners of UAE. “I am happy to state that UAE is the largest Arab country to invest in India with an 80 per cent share of the Arab business market in India,” the bureaucrat said.
According to the UAE bureaucrat, the volume of Indian business was close to 60 billion USD in the year 2018-19 and he added that it would only increase.
“Prime Minister Narendra Modi has visited UAE three times in the last six years and this has helped forge ties between the two countries,” Kaid said.
Another significant highlight of the inaugural function was the memorandum of understandings (MOUs) signed between the Vibrant Goa teams and Chambers of commerce from across the world. The Indo-American business council, Malaysian Indian Business council, Indo-Canada Business council, Indian Business council of Qatar, Nepal Chamber of commerce, Business Club of France and the Bhutan Chamber of commerce were some of the participating delegations.
