Harnessing the mutual strengths of India, Israel and UAE could propel trilateral trade between countries to a high of $ 110 billion by 2030, senior diplomats and community members said Business.

The comments were made at an event hosted by the International Federation of Indo-Israel Chambers of Commerce (IFIICC) on Sunday to discuss ongoing business collaborations across sectors, led by IFIICC.

“The international trade potential supported by Israeli innovation, the UAE’s visionary leadership and the two nations’ strategic partnership with India could reach $ 110 billion by 2030,” said Ambassador Ilan Sztulman Starosta, Chief of the Israeli mission in Dubai, in a press release issued by the IFIICC.

Echoing similar sentiments, UAE Ambassador to India and Founding Chairman of IFIICC Dr Ahmed Abdul Rahman AlBanna said “bilateral trade between UAE and India is expected to increase by $ 60 billion in 2020 to 100 billion dollars by 2030. The UAE is a gateway to the world and this trilateral meeting with India and Israel could benefit the whole world ”.

Dr Aman Puri, Consul General of India in Dubai, said: “The Indian business community in UAE could take advantage of the strengths of this trilateral to boost the economic growth of all nations.”

Ran Tuttnauer, Honorary President of IFIICC in Israel and Chairman of the Council of Israeli Manufacturers at the Association of Manufacturers of Israel (MAI) attended the event virtually from Tel Aviv and stressed that “international trade by through UAE working with India using Israeli innovation will be the future ”.

IFIICC was launched on December 14 last year and seeks to establish offices around the world, drawing on the Indian diaspora, the largest in the world.

The phase of normalizing ties between Israel and some Arab countries that followed the Abrahamic Accords sparked great interest in this trilateral partnership, with several events hosted by various organizations, including leading banks.

The European Business School (ESCP), in a recent seminar, also highlighted the global potential of trilateral ties between Israel, UAE and India. The seminar held last month was organized in cooperation with the SPJIMR.

Source: BusinessWorld & Israel Valley

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