TN keen to boost trade ties with UAE: TRB Rajaa

CHENNAI: TN is looking at collaborating with UAE in agri, food security and value-added support, said TN Industries Minister TRB Rajaa on Wednesday.

In his keynote address at the CII-organised Investopia Global’, here, he traced the 1,800 year-old trade history between TN and UAE. "TN is not only the country's talent capital but also its industrial hub. We are eager to collaborate with the UAE on agriculture, food security, and value-added support. Although we produce a significant amount, our value addition is currently limited. Enhancing this aspect will open up the UAE as a substantial market. Our vision extends beyond the UAE to include the Middle East and the African market as well in the future,” he said.

Highlighting TN's strengths in electronics, solar and wind power, manufacturing, and space technology, along with a burgeoning startup and accelerator ecosystem, Rajaa said "we plan to form a working group to advance initiatives like Investopia. We are particularly focused on emerging sectors such as space technology and quantum computing, which, surprisingly, are not receiving much attention yet. Another key area for investment is Sustainable Development Goals (SDGs)."

“The UAE has developed a new transformative growth path, fuelled by innovation, resilience, and steadfast commitment to progress. Despite global challenges, the risks created by the global pandemic, economic uncertainty and geopolitical tensions, the UAE has demonstrated remarkable resilience, buoyed by the diverse economic ecosystem and far-sighted economic policy leadership. Opportunity growth has been a robot, underpinned by strategic investments in key sectors such as tourism, technology, innovation, and renewable energy,” said Abdulla bin Touq Al Marri, UAE minister of economy and chairman of Investopia, in his keynote address.

"The UAE is home to 3.5 million Indians or close to 30 per cent of the Emirates’ population. We can proudly state we are today the largest expatriate community in the UAE. In the coming five years, the value of non-oil trade between the two countries is expected to exceed $100 billion and $250 billion by 2030. Even as this strong economic partnership continues to grow by leaps and bounds, the FDI inflows from UAE to India has crossed $16 billion last year, making UAE the 4th largest investor in India,” said R Nandini, CII SR chairperson & MD, Chandra Textiles, in her welcome remarks.