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ABLF and ASSOCHAM sign agreement to strengthen business relations between the UAE and India

ABLF and ASSOCHAM sign agreement to strengthen business relations between the UAE and India

Signing of an important agreement between Asian Business Leadership Forum (ABLF) and the Associated Chambers of Commerce and Industry of India (ASSOCHAM) during the 12th anniversary celebration of the at Jumeirah Emirates Towers, Dubai. ASSOCHAM is one of the leading trade associations of India, aimed at strengthening business relationship between the India and UAE.

The signing ceremony was attended by a group of dignitaries from both countries, including BK Goenka, president of ASSOCHAM, Deepak Sood, Secretary General of ASSOCHAM, H.E. Kamal Nath, Chief Minister of Madhya Pradesh, India and Malini N Menon, Managing Director, IEDEA and Co-Founder of the ABLF. Under the agreement, IEDEA and ASSOCHAM will work together to facilitate improved business opportunities among both the nations, opening possibilities for new association and knowledge exchange in various business-related arena under the headship platform of ABLF which established presence throughout the GCC.

BK Goenka, President of ASSOCHAM, said, “This agreement between IEDEA’s ABLF and ASSOCHAM is a testament to the fact that India and the UAE share good business relationships. Through this new association, we reiterate our purpose and perceptiveness to go beyond and enable a healthy exchange of knowledge, ideas and know-how for the advantage of both nations.”

Under the theme ‘Inclusive Leadership in an Interconnected World: Driving Progress and Sustainability through Tolerance’, the ABLF is held under the patronage of H.H. Sheikh Nahayan Mabarak Al Nahayan, Cabinet Member and Minister of Tolerance, UAE, and in official association with the UAE Ministry of Economy.

“Collaborations perform an essential part in strengthening and empowering nations in various sectors and industries in the diverse world like ours and it is a matter of great pride for ABLF that we will now be working hand-in-hand with ASSOCHAM to devise strategies and implement plans that will work in favour of business communities across both nations. Due to this dynamic partnership we expect various ground-breaking results” said Malini N Menon, Co-Founder of the ABLF.

India’s economy has developed to 2.7 trillion- dollar in 2019. The vision is to become a 5 trillion-dollar economy by 2024-25. Gulf is an integral part of India's extended neighborhood. India's engagement with GCC countries in terms of bilateral trade and investments will be crucial to achieve the vision of the 5 trillion-dollar economy.

"I am confident that the MOU signed between ASSOCHAM and IEDEA in Dubai today will be a strategic and important one for both institutions. It will boost the level and pace of engagements between the business communities in GCC countries and India. IEDEA will be a strategic partner to ASSOCHAM in GCC region and likewise ASSOCHAM shall be the connect for IEDEA in India. This MOU between the institutions is likely to enhance and strengthen the B2B and B2G connect in the long term" Deepak Sood, Secretary General, ASSOCHAM.

It is worth mentioning that for the first time in 12 years, the leadership platform is hosting a Guest Nation– India. Highlighting the strong bilateral relations between the UAE and India, the ABLF received a powerful delegation from India led by the Chief Minister, H.E. Kamal Nath, and other private sector leaders such as Gopichand Hinduja, Co-Chairman, Hinduja Group of Companies; Kumar Mangalam Birla, Chairman, Aditya Birla Group; Shobhana Bhartia, Chairperson and Editorial Director, HT Media; Dr Cyrus Poonawalla, Chairman and Managing Director, Serum Institute of India; Rajiv Luthra, Founder and Managing Partner, L&L Partners Law Offices; Madhusudan Agrawal, Co-Founder and Vice Chairman, Ajanta Pharma Ltd; Jaidev Shroff, Global CEO, UPL Limited among others.

The guest nation was welcomed by key officials from the UAE including the ABLF Patron, H.H. Sheikh Nahayan, H.E. Sultan bin Saeed Al Mansouri, Cabinet Member and Minister of Economy, UAE; H.E. Suhail Mohamed Faraj Al Mazrouei, Cabinet Member and Minister of Energy and Industry, UAE; H.E. Dr Maitha Salem Al Shamsi, Minister of State, UAE; H.E. Dr Tariq Al Gurg, CEO, Dubai Cares; and H.E. Eng Mohammed Ahmed bin Abdul Aziz Al Shihhi, Undersecretary, Economic Affairs, Ministry of Economy, UAE among others.

Partners at the event included ASSOCHAM, Senaat, DP World, Etisalat, Mashreq and VPS Healthcare.