IACCIA committed to strengthening India-Arab economic ties: Dr. Waiel S.H. Awwad
Dr. Waiel S.H. Awwad emphasized India and Arab Countries Chamber of Commerce, Industry, and Agriculture (IACCIA) commitment to enhancing trade and investment collaboration between India and the Arab world.
IACCIA’s Role in Economic Growth
Speaking at the IACCIA’s Introductory Ceremony at ITC Maurya in New Delhi, Dr. Awwad highlighted IACCIA’s role as a vital platform for business leaders, entrepreneurs, and industry experts to explore new opportunities for sustainable economic growth.
Historical Ties Between India and the Arab World
Dr. Awwad noted that India and the Arab world share centuries-old trade and cultural ties, historically fostered through early trade routes, intellectual exchanges, and economic interdependence. The Arab world’s strategic position between Asia, Africa, and Europe has long facilitated commerce with India, contributing to shared advancements in science, literature, and trade.
Expanding Trade and Investment Opportunities
He underscored the expanding trade and investment potential in key sectors such as technology, infrastructure, energy, healthcare, and manufacturing. IACCIA is actively working to support this growth through investment matchmaking, market insights, and advocacy for business-friendly policies.
Collaborations with Arab Diplomatic Missions
The Chamber also collaborates closely with Arab diplomatic missions, assisting businesses in navigating regulatory frameworks and establishing strong market footholds.
Support for Small and Medium Enterprises (SMEs)
Recognizing the pivotal role of SMEs in both regions, IACCIA is committed to providing mentorship, business matchmaking, and market entry support to help them scale globally. The Chamber also organizes workshops, seminars, and advisory services to address cultural and economic differences in international business collaborations, ensuring seamless integration and productive partnerships.
Advocacy for Business-Friendly Policies
Dr. Awwad highlighted IACCIA’s efforts in advocating for policies that promote cross-border trade and investment, working in coordination with governments and policymakers to create an environment that fosters entrepreneurship and economic growth.
Keeping the Business Community Informed
To keep the business community informed, IACCIA will regularly publish journals, industry insights, and event highlights, along with updates on trade events and business opportunities across various countries.
Membership Benefits
Dr. Awwad encouraged enterprises to become members of IACCIA, offering access to exclusive networking events, expert advisory services, and market intelligence. By fostering collaboration and innovation, IACCIA aims to create a future where India-Arab trade and investment flourish, ensuring sustained economic prosperity for both regions.
Background of IACCIA
The India and Arab Countries Chamber of Commerce, Industry, and Agriculture (IACCIA) is a key outcome of the Fifth Arab-Indian Partnership Conference in Muscat 2016 (Muscat Declaration) and the Sixth Arab-Indian Partnership Conference in New Delhi 2023 (Delhi Declaration). It has received endorsements from the Indian Ministry of Foreign Affairs, the Indian Ministry of Commerce, the League of Arab States (22 member countries), the Federation of Arab Chambers, and the Council of Arab Ambassadors in New Delhi.
This initiative represents a historic step forward in strengthening the strategic partnership between India and the Arab world.