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Dubai Expo 2020: A Perfect Venue to Promote India-UAE Trade and Investment Ties

Perfect Venue to Promote India UAE Trade and Investment Ties

Dubai Expo 2020: A Perfect Venue to Promote India-UAE Trade and Investment Ties

Last Updated on September 14, 2021

  

Originally scheduled to be hosted from 20th October 2020 to 10 April 2021, the belated Dubai Expo is ultimately going to be held from October 1, 2021 and will continue till March 31, 2022. The postponement of this historic event was due to the outbreak of the Covid 19 pandemic which ravaged the entire world including the UAE.

The Dubai Expo 2020 is spanning between the two leading cities of the Emirates, Dubai and Abu Dhabi and will witness 60 exhibitions daily with pavilions from 191 countries. The 182-day event will attract more than 25 million visitors across the globe besides running more than 200 restaurants at the venue.

The master plan for Dubai Expo 2020 has been designed by HOK, an American firm around a central plaza with three thematic districts dedicated to the Mobility District, Opportunity District, and the Sustainability District

World Expos for many decades have been used as venues to showcase the greatest innovations that have helped transform our present-day world and the same tradition will continue in Dubai Expo 2020 with the latest innovative technologies around the world.

India enjoys long historic ties with the UAE and will be the largest participant in this major event with a new look of its Pavilion. The pavilion has been designed in a four-level structure with technology, culture, space and heritage as the defining themes. Once the biggest event of the world finally resumes in Dubai, the Indian Pavilion stretched over 4800 sqm will showcase the new technology, and its “5 Ts” resonating Talent, Trade, Tradition, Tourism and Technology.

Pavan Kapoor, Indian Ambassador to the UAE remarked, ” It is very clear that by sheer dint of our proportion of the population, by our connections that we have in India, we will be the largest participant at the Dubai Expo.”

The long history of trade and investment between India and the UAE has been further reinforced last year when the top leadership of the two countries convened regular virtual conferences to promote bilateral and trade investment cooperation during the post-pandemic.

Dubai Expo 2020 will showcase the robust India-UAE trade which has seen unprecedented growth over the years which was only valued at 180 million dollars per annum in the 1970s and has currently grown to 59 billion dollars in 2020. The UAE was the third-largest trading partner of India during 2019-20 after China and the US while India was the second-largest trading partner of UAE with an amount of 41.43 billion dollars of trade in non-oil sectors during 2019.

The UAE is a major exporter of crude oil and the Indian government has sought more investments from the UAE in Indian core economic sectors including infrastructure, logistics, defence, ports, highways, airports, renewable energy and food parks. In September 2020, the Consulate General of India, Dubai, and Tea Board India jointly organized a virtual B2B Meet for promoting Indian tea amongst the UAE consumers.

Besides enhancing trade and investment, the two countries also agreed to expand security cooperation and explore opportunities for mutual collaboration for fighting against the pandemic. Current geopolitical instability in many parts of the world has also forced the two countries to look for increased political and economic engagements. With millions of Indian workers employed in the UAE, India has been keen on protecting the interests of its citizens at the time of great economic turmoil.

While UAE scales up investments from India in healthcare, food security and fintech sectors and Dubai company incorporation by Indian investors, the Indian government announces major policy reforms to promote business and investments and attract foreign investors from the UAE. It is no wonder that Dubai Expo 2020 turns out as the perfect venue for enhanced bilateral trade and investment between the two countries.

Dubai Expo 2020 is the biggest event in the Middle East and North Africa (MENA) and will enhance and accelerate the country’s economy with foreign investments pouring in and new business set up in Dubai UAE.

The revival of the world’s economy is also intimately linked to the growth and economic prosperity of these two countries.


  

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