Kolkata, July 7 (PTI) Umm Al Quwain (UAQ), one of the seven states of United Arab Emirates (UAE), Friday urged entrepreneurs from West Bengal to invest in its Free Trade Zone (FTZ) and get hundred per cent ownership.
Johnson M George, general manager UAQ FTZ of the government of Umm Al Quwain, said the region provides great logistical support as it is close to Dubai and Sharjah international airports.
Any entity interested to invest in the FTZ can set up a company in one or two days due to the quick and easy registration processes followed there, he said at an event organised by ICC here.
“Entrepreneurs will get 100 per cent ownership if they invest in the FTZ, which also provide scope for start ups. Additionally it is located close to Dubai and Sharjah airports,” he said.
The UAQ FTZ provides access to two billion consumers with its air, road and water connectivity, he added.
ICC past president Sanjay Budhia said UAE and India has diplomatic ties dating back to 1972. The commerce between the two countries is estimated to be in the region of USD 85 billion in 2022-23.
Both UAE and India has agreed to a Comprehensive Economic Partnership Agreement, he said. CEPA seeks to enhance economic and commercial ties between the two countries. The agreement aims to increase trade and investment, improve market access, and promote economic growth between India and the UAE.
India is the second-largest trading partner of UAE. The UAE on the other hand is the third largest trading partner of India, he added. PTI dc KK KK
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