Dubai and BNCCI sign accord to boost trade

Kolkata, Apr 2: In a bid to boost the Small and Medium Enterprises in West Bengal, the Bengal National Chamber of Commerce and Industry (BNCCI) has signed a Memorandum of Understanding (MoU) with the Dubai Chamber of Commerce and Industry (DCCI) to strengthen bilateral trade ties and exchange expertise in various sectors.

BNCCI President Nayantara Palchowdhury told UNI here today that the Dubai Chamber, with a membership of 70,000, has shown interest in West Bengal.

A 15-member delegation led by the BNCCI President, which returned last night, visited various eceomically developed cities of UAE like Dubai, Abu Dhabi and Free Trade Zones like Javer Ali Export Promotion Zones.

Ms Palchowdhury said, ''Dubai Chamber members never knew a state called West Bengal in India. We introduced our state and put forward the potential areas where bilateral trade between us is possible.'' The BNCCI President said, ''DCCI will collaborate with India helping Indian companies to set up units in Dubai. As UAE offers huge tax sops and excellent infrastructure, many of our members would be interested to set up units there.'' Director-General of DCCI Abdul Rahman Ganem Al Mutaiwee had stressed the strong historical trade relations between the UAE and India, Ms Palchowdhury said.

''He had also said to the BNCCI President that the door remained open to joint ventures and investments in both countries, supported by the Indian Business Council, which operates in Dubai under the umbrella of DCCI,'' she added.

DCCI also wants to import Indian fire figting equipment and other manufacturing products. Ms Palchowdhury said, ''We have also invited the Dubai Chamber to participate in the 20th Industrial India Trade Fair which will be organised in the city from December 21 to 31.'' BNCCI provides its services to more than 8,000 members who represent varied sectors like chemicals, pharmaceuticals, jewellery, tea and textiles.

Trade between India and Dubai had increased by 125 per cent in the past five years.

Dubai's non-oil foreign trade with India had reached Dh31.4 billion in 2004.

The Emirate's re-exports to India reached Dh11.6 billion, whereas its exports to the sub-continent in the same year reached Dh2.1 billion.

While Dubai's imports from India reached Dh 17.6 billion.

UNI