The Hindu Business Line : High-level team for IMF meet in Dubai

A HIGH-LEVEL Indian delegation led by the Governor of the Reserve Bank of India Mr. Y.V. Reddy, will be participating in the Dubai 2003 Annual Meetings of Boards of Governors of the World Bank Group and the IMF, scheduled to be held at the Dubai International Convention Centre on September 23 and 24.

Mr Yashwant Sinha, the newly appointed Consul-General in Dubai, told Business Line that the high-level Indian delegation, which also includes the Finance Secretary and other senior officials, will arrive in Dubai for the Annual meetings on September 19. The team will participate in a series of seminars and exchange views with the high profile participants attending the meetings from all across the globe.

Mr Sinha said the Indian team was viewing the meetings as a good venue to interact with senior Government representatives and bankers from a number of participating countries.

"This meeting is a very high profile and big event for Dubai. Every alternate year, the meetings are held outside Washington and this is the first time that the WB-IMF meetings are being held in the West Asian region. It is a significant occasion for the Indian delegation to participate in this venue," he said.

The official pointed out that as the newly appointed RBI Governor was earlier posted with the IMF at Washington, he comes with a wealth of experience that will help in the delegation's participation in the Dubai meetings. Over 16,000 participants from all over the world are scheduled to take part in the event, with preliminary meetings expected to begin from September 17.

Meanwhile, Mr Sinha said proactive measures were underway to boost economic ties between the UAE and India, following a significant rise in trade between the two countries. Indian exports to the UAE jumped by 33 per cent to $3 billion in the fiscal year 2002-2003, compared with $2.2 billion the previous year, he said. Non-oil imports by India from the UAE touched $859 million in 2002-2003.

Mr Sinha pointed out that the forthcoming "Made in the UAE" expo, scheduled to be held in October at the Mumbai World trade Centre, will serve to not only to showcase UAE products, but also enable India to highlight its investment opportunities to potential UAE investors.

A high-level UAE business delegation headed by the President of the Dubai Chamber of Commerce and Industry will be visiting India to discuss investment and business opportunities between the two countries, he said.

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