UPGIS 2023: Summit will prove to be a milestone for UAE-UP relations, says Minister Rakesh Sachan

Cabinet Minister for Ministry of MSME and Khadi, Rakesh Sachan in the Government of Uttar Pradesh attended the Global Investors Summit on Saturday and talked about UAE-UP relations.

"The centuries-old traditional and economic relations between India and the UAE will further get strengthened through the Uttar Pradesh Global Investors Summit, which will prove to be a milestone for UP and UAE," said Minister of MSME in the Yogi Government Rakesh Sachan.

While addressing a session with delegates from the United Arab Emirates (UAE) during the second day of the Global Investors Summit on Saturday, Sachan interacted with HE Ahmed Bin Ali Al Sayegh Minister of UAE and Minister of State for Foreign Trade, Ministry of Economy HE Dr Thani Bin Ahmed Al Zeyoudi.

Talking in UPGIS 2023, the UAE ministers also said that "This was just the beginning as in the coming times many of their investors will move to UP and take advantage of the investment-friendly environment brought about by the Yogi government in UP.

Meanwhile, Rakesh Sachan also talked about the partnership made between the Government of India and the UAE for economic cooperation on September 2021 and said, "This partnership has resulted in a manifold increase in trade between the UAE and India. Exports and imports from the UAE have reached $50 billion. We look forward to good relations with UAE in UP."

Rakesh Sachan further stated, in January, our team visited UAE, where Dr Thani warmly welcomed us. The Abu Dhabi Chambers of Commerce and Industry also extended a lot of cooperation. Lulu Mall has signed an MoU of Rs 3300 crore with us, under which it will open its malls in Ayodhya and Varanasi as well as some other places.

"The mantra given by Chief Minister Yogi Adityanath of 'work for every hand, smile on every face' has to be made successful at all costs. I appeal to the investors of UAE to come and invest in UP," Sachin urged investors to collaborate with UP.

However, the UAE's Minister of State talked about the relationship between both countries and said, "Apart from traditional investments in Uttar Pradesh, we are also focusing on new and emerging sectors. These include defence, space, food processing, agriculture processing, climate, drone technology, logistics and many other areas. In this series, some UAE companies are going to set up food parks in Uttar Pradesh."

We have set a target that the UAE's total trade with India will reach $100 billion in the next 5 years, UAE's Minister of state said.

Earlier in 2022, UAE launched 'I Too, You Too' to strengthen India-UAE economic ties which seemed to be very successful.

At the same time, Elana Group has also announced an investment in the food processing sector. An agreement has also been signed with Lulu Mall for self-help groups so that the products made by the women of SHGs can also reach the people through these malls.

Notably, on Friday Prime Minister Narendra Modi inaugurated the Uttar Pradesh Global Investors Summit 2023 in Lucknow. Defence Minister Rajnath Singh, Uttar Pradesh Governor Anandiben Patel and Chief Minister Yogi Adityanath were also present on the occasion.

The chief guest at the closing ceremony will be President Droupadi Murmu.

( With inputs from ANI )