Industry & Economy
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Foreign Trade
‘Indo-Arab trade can touch $100 b’
Kamal Narang
The Secretary General of the League of Arab States, Mr Amre Moussa, and the Minister for External Affairs, Mr Pranab Mukherjee, during the ‘India-Arab Forum Partnership Through Culture,’ organised by the Federation of Indian Chambers of Commerce and Industry and the Ministry in the Capital on Tuesday. —
Our Bureau
New Delhi, Dec 2
Bilateral trade relations between India and the Arab world can touch $100 billion mark in the next two-to-four years if the current active pace continues, the Secretary General, League of Arab States, Mr Amre Moussa, said here on Tuesday.
Delivering the special address at the inaugural function of the India-Arab Forum meeting, Mr Moussa said that the remarkable growth in the Indian economy as also in the Arab economies have driven a huge interest in cross-border investment.
“During 2006-07, the total trade exchange between India and Arab countries excluding oil trade reached $30 billion from $8.8 billion during 2000,” Mr Moussa said.
The event has been jointly organised by the Ministry of External Affairs, the League of Arab States and Federation of Indian Chambers of Commerce and Industry (FICCI).
Addressing the meeting the Minister for External Affairs, Mr Pranab Mukherjee said not only did five million Indians live in the Arab world, but also pointed out that increasing the profile of the Indian community in the region is changing. “Today almost 20 per cent of Indian are professionals. Bilateral trade between India and countries of the Arab world has also increased significantly,” the Minister said.
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