UAE-India trade hits Dh760.4 billion in 6 years

By Rajive Singh

ABU DHABI 17 November 2017: The total value of foreign trade between the UAE and India has reached Dh760.4 billion during the period from 2012 to the end of the first quarter of 2017 while the value of the country’s indirect oil trade with India during this period has reached around Dh625 billion, said Mohammad Juma Buossaiba, Director-General of the Federal Customs Authority (FCA).

He said the value of trade from the country’s free zones with India reached Dh135.4 billion

Total value of imports from India during the last six years has reached around Dh449 billion, and India is one of the major markets for re-exported goods from the UAE, with the value of goods and merchandise totalling Dh181.3 billion during the same period while the value of UAE exports reached around Dh130.2 billion.

Buossaiba made his statement during his meeting today with Panjek Pudki, Indian Economic Consul to the UAE, at the headquarters of the FCA in Dubai, where they discussed the means of strengthening the joint co-operation in the customs sector between the UAE and India.

The meeting also saw the attendance of Ahmed Abdullah bin Lahej, Executive Director of the Customs Affairs Sector, and Saud Salem Al Aqroubi, Director of the International Relations Department at the FCA.

The meeting saw discussions on aspects of joint customs co-operation, exchange of information and expertise, strengthening the management of customs risks, in addition to the UAE’s support for the nomination of Debi Prasad Dash, Director-General of Indian Customs, for the position of Deputy Secretary-General for the World Customs Organisation during the upcoming period.

During the meeting, the Indian Consul presented an invitation to the Director-General of FCA to attend the celebration of the Indian Directorate of Revenue Intelligence on the occasion of its 60th year of establishment. It will be held in the capital, New Delhi, during the upcoming period.

Buossaiba said that India occupies the second place in the list of commercial partners of the UAE in overall non-oil foreign trade. He further said he expects the economic and trade relations between both countries to grow in light of the common desire of the leadership and the government of both countries to elevate co-operation in trade and push the trading, economic, and social relations to higher levels of development and flourishment.