The UAE and Andhra Pradesh Explore Greater Economic and Investment Engagement

New Delhi 1 August 2024: The UAE Embassy in Delhi, in collaboration with the UAE-India CEPA Council (UICC) and the Government of Andhra Pradesh, convened an economic and investment roundtable in Vijayawada, Andhra Pradesh. The event was co-chaired by H.E. Abdulnasser Alshaali PhD, the Ambassador of the UAE to India, and Sri T.G. Bharath, the Minister for Industries and Commerce and Food Processing of Andhra Pradesh.

UAE participants at the roundtable included Mr. Ahmed Aljneibi, the Director of the UICC, as well as representatives from UAE companies, Abu Dhabi Ports, Air Arabia, Aramex, DP World, DUCAB, Emaar, Emirates Airlines, Emirates NBD, FlyDubai, the Lulu Group, and Tabreed. From the Andhra Pradesh side, 50 senior government officials and company representatives were present at the event.

Speaking on the occasion of the roundtable, H.E. Dr. Alshaali underlined the centrality of Andhra Pradesh within the UAE-India strategic partnership, and the need to exert all efforts to increase people-to-people, economic, and investment engagement. “It is essential to increase the level of economic and investment collaboration between the UAE and Andhra Pradesh. The participation of more than 10 major UAE companies at this roundtable strongly attests to the significance of Andhra Pradesh, and the UAE’s willingness to support the state government’s ambitious investment and developmental agendas.”

The Ambassador went on to highlight that to increase people-to-people engagement and to spur direct investment, improving air connectivity between the UAE and Andhra Pradesh was critical. It was underlined that UAE carriers could undertake up to 35 direct flights per week to Vijayawada, Visakhapatnam, and Tirupati, which would allow for an increase in over 500,000 passengers per annum to Andhra Pradesh’s airports. Direct air links between the UAE and Andhra Pradesh would not only provide increased consumer choice and economic opportunities for the people of Andhra Pradesh, but also enhance the state’s position as a vital regional and international aviation hub.

In his remarks, Mr. Aljneibi, the Director of the UICC, provided participants with an overview of the UAE-India Comprehensive Economic Partnership Agreement (CEPA), and highlighted the ability of Andhra Pradesh’s business community to leverage not only this agreement, but also other recent bilateral initiatives to expand their investment presence in the UAE.

During the roundtable, several UAE companies outlined their investment plans in both Andhra Pradesh and India more broadly. A highly interactive discussion took place between participants from both sides, with cooperation in a range of sectors canvassed, including agriculture and food processing, aviation and aerospace, biotechnology, electronics and IT, automotives, petroleum and petrochemicals, and shipping, logistics, and ports.

During his visit to Andhra Pradesh, H.E. Dr. Alshaali also had the opportunity to meet with Sri Nara Chandrababu Naidu, the Honourable Chief Minister of Andhra Pradesh. During the discussions, H.E. Dr. Alshaali congratulated Sri Naidu on his recent appointment as Chief Minister of Andhra Pradesh, and affirmed the UAE Government’s desire to expand tangible engagement with the state of Andhra Pradesh across all facets of the bilateral partnership.

Andhra Pradesh ranked as the UAE’s 11th largest trading partner among India’s 28 states and eight union territories, with total trade reaching USD 1.46 billion for the 2023-2024 fiscal year. Over this same period, bilateral trade between the UAE and India stood at 83.64 billion. The UAE is India’s second-largest export destination, third-largest trading partner, and fourth-largest investor.