His Highness Sheikh Saud bin Saqr Al Qasimi witnesses key MoUs between RAKEZ, CII, and MIDC at UAE-India: Partnership for Enduring Prosperity Forum

Ras Al Khaimah, 30 January 2025: His Highness Sheikh Saud bin Saqr Al Qasimi, Member of the Supreme Council and Ruler of Ras Al Khaimah, witnessed the signing of significant Memorandums of Understanding (MoUs) during the 'UAE-India: Partnership for Enduring Prosperity' forum, held recently at the Waldorf Astoria, Ras Al Khaimah. The forum brought together leaders and innovators to strengthen economic collaboration between the UAE and India.

The MoUs, signed between Ras Al Khaimah Economic Zone (RAKEZ) and key Indian entities such as the Confederation of Indian Industry (CII) and Maharashtra Industrial Development Corporation (MIDC), aim to bolster trade and investment opportunities. The agreement with CII focuses on facilitating the growth of Indian businesses by providing tailored support, hosting industry events, and promoting Indian enterprises within the RAKEZ ecosystem. Meanwhile, the MoU with MIDC emphasises strengthening trade ties between Ras Al Khaimah and Maharashtra by fostering investor connections, promoting a business-friendly environment, and collaborating on mutually beneficial projects.

RAKEZ, which already hosts over 7,000 Indian investors operating across diverse sectors, highlighted its pivotal role in empowering Indian businesses, which span industries such as manufacturing, trade, technology, and services, benefiting from RAKEZ's strategic location, comprehensive infrastructure, and supportive business environment.

The forum featured a key plenary session titled 'Make in India & the Emirates – Thriving in a Complementary Manufacturing Ecosystem,' moderated by RAKEZ Group CEO Ramy Jallad. The session brought together prominent panelists to explore topics such as the impact of the Comprehensive Economic Partnership Agreement (CEPA), green manufacturing trends, the role of advanced technologies like AI and IoT, and the evolving global value chains in manufacturing.

Speaking at the forum, Jallad commented: "The UAE and India share a long-standing partnership rooted in trust and mutual growth. Ras Al Khaimah, with its business-friendly environment and strategic location, is perfectly positioned to support Indian businesses looking to thrive on a global scale. These MoUs are a significant milestone in our efforts to enhance collaboration, foster innovation, and create opportunities across borders. They also contribute to reinforcing Ras Al Khaimah's position as a key hub for Indian companies seeking global expansion."

The event also celebrated the launch of the Global Maharashtra Business Forum Chapter in Ras Al Khaimah, further solidifying the emirate's position as a gateway for Indian companies to expand their reach globally.

With its ongoing efforts to foster cross-border partnerships, particularly with India, RAKEZ continues to solidify its role as a pillar of Ras Al Khaimah's economic development. By supporting Indian businesses, facilitating trade and investment opportunities, and driving collaboration through strategic initiatives with several Indian business forums and organisations, RAKEZ is actively contributing to the UAE's vision for sustainable growth and its position as a global hub for innovation and economic progress.