HE Obaid Humaid Al Tayer receives Indian Minister State for Financial Affairs

Press release

Published April 14th, 2015 - 05:29 GMT

During the visit

HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs received HE Jayant Sinha, Minister of State for Finance, Government of India and his delegation, in Abu Dhabi today. The two parties discussed the political, trade economic and historical relations between the two countries as well as future cooperation opportunities.

Commenting on this visit, HE Obaid Humaid Al Tayer welcomed the visiting delegation and stressed the importance of the historical ties enjoyed by the UAE and India, especially with regard to investments. The UAE embraces a large number of Indian projects and companies, whereby Emirati investments entities work on consolidating their presence in the Indian market as it is considered as one of the most markets expanding globally.

According to historical economical evidence, the volume of trade between the two countries amounted to 180 million US dollars during the seventies of the last century. The volume of trade has grown steadily and reached 75 billion US dollars for 2012-2013.

Background Information

UAE Ministry of Finance

The UAE Ministry of Finance (MoF) is responsible for implementing all fiscal, monetary and industrial policies related to the UAE’s economic development. Among its core responsibilities are the preparation and allocation of the Federal Budget and the management of the government’s financial position.