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Trilateral trade between India, Israel and the UAE to reach $110 bn by 2030

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UAE and India's bilateral trade is projected to grow from $60 bn in 2020 to $100 bn during the period

Trilateral trade between India, Israel and the UAE is expected to reach $110 billion by 2030, according to experts. The same was revealed during an event organised by the International Federation of Indo-Israel Chambers of Commerce (IFIICC).

In a press conference, Ambassador Ilan Sztulman Starosta, Head of the Israeli mission in Dubai said that the international business potential backed by Israeli innovation, UAE’s visionary leadership and strategic partnership of both nations with India could be $110 billion by 2030.

Similarly, Ambassador of the UAE to India and Founding Patron of IFIICC, Dr Ahmed Abdul Rahman AlBanna, told the media, “UAE and India’s bilateral trade is projected to grow from $60 billion in 2020 to $100 billion by 2030. UAE is a gateway to the world and this trilateral with India and Israel could benefit the world.”

Last month, it was reported that the UAE will invest in various strategic sectors of Israel. The UAE has decided to establish a fund of $10 billion after a telephonic conversation between Benjamin Netanyahu, Israeli Prime Minister and Sheik Mohamed bin Zayed, Abu Dhabi’s Crown Prince.

The investment fund from the UAE is expected to support Israel in sectors including energy, manufacturing, water, space, healthcare and agritech. This will support the developmental initiatives of the country and also promote regional economic cooperation between the two countries. The investments for the fund are derived from institutions belonging to the government and private sectors.

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