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The signing of the Memorandum of Understanding between RAKEZ and IETO heralds a new era in the relationship between the United Arab Emirates and India. With the Comprehensive Economic Partnership Agreement (CEPA) of 2022 already strengthening ties, this collaboration takes it a step further. Let’s delve into the significance of this monumental agreement and its potential impact.
The Significance of the MoU
The MoU between RAKEZ and IETO holds immense significance for both countries. It aims to foster stronger economic and trade relations, building on the already robust foundation laid by CEPA. This agreement solidifies their mutual commitment to business excellence and opens doors for Indian enterprises in the UAE and the broader MENA region.
Exploring RAKEZ: Your Gateway to the MENA Region
RAKEZ has positioned itself as a hub for businesses of all scales, offering simplified company formation processes in the UAE. It serves as a vital gateway for Indian companies seeking to expand into the MENA region, providing them with a strategic advantage in a rapidly growing market.
Streamlining Market Entry: A Boon for Indian Businesses
One of the key objectives of this collaboration is to streamline the market entry process for Indian businesses. RAKEZ will assist these enterprises in navigating complex regulatory requirements and obtaining the necessary licenses, making their expansion into the UAE hassle-free.
Networking and Business Matchmaking Opportunities
The MoU also emphasizes networking and business matchmaking opportunities for Indian companies. This platform enables them to interact with both local and international stakeholders within RAKEZ, fostering collaborations and partnerships that can drive growth.
CEO Insights: Ramy Jallad on Strengthening Ties
RAKEZ Group CEO Ramy Jallad shares his perspective on this collaboration, stating, “Our ties with Indian business entities are vital in the strengthening of UAE-India relations, which has been on the rise post-CEPA. The latest MoU with IETO highlights our dedication to nurturing international business ties and enhancing trade avenues with key markets such as India.”
IETO President’s Perspective: Dr. Asif Iqbal
IETO President Dr. Asif Iqbal also expressed his optimism about the collaboration, saying, “RAKEZ serves as an ideal framework that is built around facilitating business-friendly policies. It is an excellent hub for growing businesses across various scales, seeking simplified company formation processes in the UAE. It is exciting to witness a significant number of Indian enterprises making strides in RAKEZ, catering to both regional and global audiences.”
RAKEZ’s Vibrant Indian Business Community
Currently, RAKEZ boasts a thriving community of nearly 5,000 Indian businesses. These enterprises span various sectors and have been making remarkable contributions to the UAE’s economy. Some renowned names include Naturelle, a subsidiary of the global FMCG giant Dabur India; Fabcon Industrial Services, experts in manufacturing pressure vessels; Ashok Leyland, an international producer of motor vehicle engines and auto parts; Royal Gulf Industries, a key player in lead-acid battery recycling; Al Amir Food Industries, a global manufacturer, and exporter of spices; and Ace Cranes and Engineering, specialists in the manufacturing of steel hangars and sheds.
Key Players in RAKEZ
- Naturelle: A subsidiary of Dabur India, Naturelle is a global FMCG giant known for its natural and wellness products. They have found a thriving market in the UAE through RAKEZ.
- Fabcon Industrial Services: Experts in manufacturing pressure vessels, Fabcon Industrial Services have set up a successful operation in RAKEZ, serving the region’s industrial needs.
- Ashok Leyland: This international producer of motor vehicle engines and auto parts has found a strategic base in RAKEZ to cater to the growing automotive industry in the UAE.
- Royal Gulf Industries: As a key player in lead-acid battery recycling, Royal Gulf Industries contributes significantly to sustainability efforts in the region.
- Al Amir Food Industries: This global manufacturer and exporter of spices have made a name for themselves in the UAE market, thanks to their presence in RAKEZ.
- Ace Cranes and Engineering: Specializing in the manufacturing of steel hangars and sheds, Ace Cranes and Engineering have established themselves as a reliable provider of industrial infrastructure solutions.
The Power of Business-Friendly Policies
One of the reasons behind the success of Indian businesses in RAKEZ is the region’s business-friendly policies. RAKEZ offers a conducive environment for growth, making it an attractive destination for companies looking to expand their operations.
Success Stories: Indian Enterprises in RAKEZ
Several Indian enterprises have achieved remarkable success in RAKEZ. Their stories serve as inspiration for others looking to explore the vibrant business landscape of the UAE.
RAKEZ and IETO: A Symbiotic Relationship
The collaboration between RAKEZ and IETO creates a symbiotic relationship, benefiting both regions. It strengthens UAE-India relations while providing Indian businesses with a launchpad for regional and global expansion.