UAE Minister of Foreign Trade H.E. Sheikha Lubna bint Khalid Al Qasimi led UAE business delegation to the 19th edition of the ‘Partnership Summit 2013 – Global Partnerships for Enduring Growth’ in India. The three-day summit, which was held in the city of Agra, Uttar Pradesh, from 27-29 January included a number of sessions and discussion panels that aim at exploring opportunities in emerging economies, finding solutions to confront challenges facing the global economy and the weakening prospects of growth in developed countries.

Sheikha Lubna participated in the first panel discussion session of the summit, which included a number of trade ministers, head of multilateral organisations and senior economist in the world to discuss the prospects and growth opportunities in emerging countries and its impact on stimulating the global economy at the current scanario.

During the session, H.E. Sheikha Lubna Al Qasimi called  for opening up world markets and promote trade and remove trade barriers, saying that the best solution to address the current crisis is to open all markets in the world and adopt liberal trade policies.

UAE Foreign Trade Minister called for enhanced cooperation between the north and south and also between the countries of the South with the removal of all barriers and protectionist restrictions by some countries in the wake of the global crisis.

The session was also addressed by Mr Pascal Lamy, Director-General of the World Trade Organization, Mr Radovan Zerjav,  Deputy Prime Minister and Minister of Economic Development & Technology, Slovenia, Mr Anand Sharma, Minister of Commerce, Industry & Textile, India, Mr Sukwoo Hong,  Minister of Knowledge Economy,  Republic of Korea, Mr M İlker Aycı, President, Investment Support and Promotion Agency of Turkey and Mr Richard Boucher, Deputy Secretary – General, Organisation for Economic Cooperation and Development (OECD). The session was chaired by Rajat M. Nag, Managing Director General, Asian Development Bank (ADB).

At the side line of the summit, UAE foreign Trade Minister held one to one meetings with Mr Anand Sharma, Indian Commerce, Industry & Textile Minister and Mr Pascal Lamy, Director-General of the World Trade Organisation (WTO).

During her meeting with Mr Anand Sharma, both discussed the outstanding relations between the United Arab Emirates and India and discussed ways to promote and strengthen trade, investment and economic relations between the two countries.

Mr Sharma informed H.E. Sheikha Lubna that new opportunities have been created by the recent policy reforms in India and invited UAE to invest in various areas, especially in the infrastructures sector. The UAE Minister suggested that India should participate in ‘country presentations’ of upcoming Annual Investment Meeting 2013 (AIM), which is an important modality of making investment decisions in UAE.

H.E. Sheikha Lubna and the Indian Minister agreed that the first meeting of the UAE-India High Level Task Force on Investment, for which Mr Anand Sharma is the co-chair from the Indian side, should meet at the earliest. The co-chair from UAE side is H.H. Sheikh Hamid Al Nahayan of ADIA.

Mr Anand Sharma highlighted that the total trade with UAE accounts for US$ 73.81 billion in 2012, with UAE being India’s top trading partner, accounting for 9.02% of India’s trade with the world and consequently India attaches highest importance to relationship with UAE.

During H.E. Sheikha Lubna meeting with Pascal Lamy, both discussed the issues on the global trade arena and perspectives related thereto. Mr Lamy expressed his deep appreciation on the pivotal role played by the UAE to move forward in the liberation of the world markets and encourage trade liberalization and the removal of trade obstacles.

H.E. Mohammed Sultan Al Owais, Ambassador of the UAE to India, and Mr Mana Sultan Al Suwaidi Commercial Attaché of the UAE to India accompanied UAE Foreign Trade Minister during the visit and attended all meetings.