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KHALEEJ TIMES, Sunday, Feb 10, 2019 | Jamadi Al Thani 5, 1440

DMCC, West Bengal body sign trade agreement

Emirates: The Dubai Multi Commodities Centre (DMCC) signed a memorandum of understandingwith West Bengal Industrial Development Corporation (WBIDC) from the Indian state.

DMCC chief operating officer Feryal Ahmadi and WBIDC managing director Vandana Yadav signed the MoU at the fifth Bengal Global Business Summit in Kolkata, further cementing the strong bilateral trade relations between the DMCC and a rapidly-growing Indian business community.

"As we deepen our already strong partnership with the business community in India, the DMCC takes pride in collaborating with WBIDC, and the state of West Bengal, to seek new ways to attract, facilitate and promote trade," said Ahmadi.

"As a result of our relationship with WBIDC, the initiatives outlined in this MoU serve as a launch pad for Indian businesses looking to grow in Dubai and beyond," Ahmadi added.

"India is the UAE's second-largest trading partner by volume. Both countries are making a concerted effort to strengthen commercial ties, create an environment that is even more welcoming to investment, removes unnecessary bureaucracy and opens the door trade," said Ahmad Alfalahi, Commercial Attache for the UAE Embassy in India.

The MoU commits both parties to raise awareness around export promotion, facilitate trade, boost investment interaction and connect businesses from across geographies, sectors and industries.

"There is a strong synergy between Dubai and the state of West Bengal. Looking ahead, there is a signficant opportunity to strengthen ties, collaborate further and work even closer together to boost business activity and knowledge transfer," added Yadav.

Representatives of both the UAE Embassy in India and the Dubai Chamber of Commerce and Industry attended the ceremony.

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