B2B session to promote free trade zone in Gulf

Tribune News Service

Amritsar, June 20

To promote Gulf’s free trade zone, a delegation of Sharjah Airport International Free (SAIF) zone will hold a two-day B2B session with members of the Associated Chamber of Commerce and Industries of India (ASSOCHAM) here on Tuesday.

Organised by ASSOCHAM, the B2B meetings with a visiting delegation from the Gulf will explain the benefits of free trade zones to businesses in the region and explore newly emerged business and investment opportunities in the United Arab Emirates (UAE).

Amrit Sagar Mittal, chairman, ASSOCHAM North Region Development Council, said: “The India-UAE Comprehensive Economic Partnership Agreement (CEPA) is the first comprehensive bilateral trade agreement in a decade and will increase the flow of goods, services, investments, technology and work opportunities for Indian businesses, bringing strong multiplier benefits across sectors. Already, agri and food products along with textiles are major export items from India to the UAE. However, with the CEPA in place, there is a huge scope for other Punjab industries, including readymade garments, auto components, sports goods and equipment, to export to the UAE. The aim of these meetings is to apprise the participants on trade and investment opportunities in the UAE, especially in SAIF zone.”

The UAE has long been an attractive destination for entrepreneurs the world over because of a well-developed and diversified economy, excellent infrastructure and transport links and a unique low tax regime. But while these may be the factors that get the headlines, there’s another major reason why so many flock to the UAE shores to conduct business — free zones. These are economic areas, where goods and services can be traded.

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