Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Chamber of Food and Agriculture (ICFA) have signed an MoU to promote growth and development in the food and agriculture sector of the UAE and India. The MoU aims to strengthen strategic collaboration, facilitate knowledge exchange, trade promotion, investment, and research and development cooperation.
RAKEZ Group CEO Ramy Jallad emphasized the significance of the MoU, recognizing India’s role as a strategic trade and investment partner for the UAE. The collaboration will provide opportunities for knowledge exchange and capacity-building, allowing RAKEZ businesses to share innovative, sustainable farming techniques with major Indian companies.
ICFA Chairman Dr. MJ Khan highlighted the importance of the collaboration, stating that it marks a pivotal moment for their organization and enables Indian agri-businesses to explore profitable opportunities in the MENA region through Ras Al Khaimah.
Joint research and development projects are expected to stimulate agricultural innovation in India and the UAE. The MoU will facilitate promotional activities, market access, and business matchmaking between Indian food and agriculture companies and businesses within the RAKEZ ecosystem.
RAKEZ and ICFA will actively identify and promote investment opportunities for Indian businesses in the economic zone, acting as a gateway to the Middle East. The agreement focuses on fostering research and development collaborations between Indian and RAKEZ-based institutions, with a particular emphasis on agricultural innovation, sustainable farming practices, and food processing technologies.s
CA Harikishan Rankawat, President of the Federation of Indian Industry (Dubai Chapter) and Chairman of the Institute of Chartered Accountants of India (Dubai Chapter), expressed support for the collaboration, aiming to bring fresh perspectives and innovative ideas to promote trade and investments between the UAE and India.
The MoU strengthens UAE-India relations and promises to boost Indian presence and investment in the UAE, building on the Comprehensive Economic Partnership Agreement (CEPA) and the existing Indian companies operating in RAKEZ.
