DUBAI, The UAE’s National Association of Freight and Logistics (NAFL) has extended its support to the Federation of Freight Forwarders Associations in India for hosting the 3rd edition of LOGIX India a month after both countries signed the Comprehensive Economic Partnership Agreement (CEPA) to boost their merchandise trade to US$100 billion over the coming five years. The CEPA becomes effective by the first week of May.
Key Logistics players in India and UAE will utilize the three-day event, to be held at Hotel Le Meridien Dubai from March 21st to 23rd, to work out ways and means to improve the prospects of the freight and logistics market as the 21st century’s second pandemic comes closer to becoming history after causing unprecedented losses to businesses like tourism, aviation and logistics. At the opening ceremony, Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, and Director-General of Dubai Customs, Ahmad Mahboob, will address the gathering.
Emirati Nadia Abdul Aziz, President of NAFL, the oldest association of freight logistics service providers in the Middle East, said, “We welcome Indian companies and wish them a successful event. This event will open new growth opportunities for the UAE and India as they work their ways towards achieving better results. The event will be an ideal opportunity for the cargo and logistics organisations to meet and set targets as spelt out in the CEPA. LOGIX India will further boost the already strong trade levels between the two countries.”
The Indian logistics market is estimated to grow to US$380 billion in 2025 and the freight and logistics market in UAE will generate over US$31.41 billion in 2026. The UAE is India’s third-largest trading partner, after the US and China, with about US$59.12 billion of bilateral trade in 2019-20. The UAE is also India’s second-largest export destination with exports of US$29 billion in 2019-2020.
The UAE is the eighth-largest investor in India, having invested US$11 billion between April 2000 and March 2021. Investment by Indian companies in the UAE stands at over US$85 billion. LOGIX India will display solutions for improving cost-effectiveness and operational efficiencies for logistics, investment opportunities in Infrastructure and Warehousing, technology integration and PPP and private sector infrastructure development. Being organised by the Federation of Indian Export Organisations (FIEO) and supported by the Federation of Freight Forwarders Association in India (FFI) and National Association of Freight and Logistics (NAFL-UAE), the event will be addressed by dignitaries from both the UAE and India.
On the second day, Omar Khan Abdulla, Director of International Offices at Dubai Chamber, will talk about UAE-India trade potential. Abdulrahman bin Haider will share details about the World Logistics Passport (WLP), the first global freight loyalty scheme that has two Indian airports -Hyderabad and Mumbai – among 10 countries that are now its part. The other speakers include the Indian Consul General to Dubai, Dr. Aman Puri, and Director-General of Federation of Indian Export Organisations (FIEO), Dr Ajay Sahai.
Nadia Abdul Aziz will be working with the Indian freight officials about the areas of collaboration, capacity building and increasing and facilitating trade by the supply chain. She will underscore the benefits of using the UAE as a hub to re-export Indian goods to the world. Business meetings will be conducted by NAFL UAE for its members to meet Indian businessmen. The participants will visit JAFZA, the UAE’s first free zone in Jebel Ali spread over 1.58 million square metres and housing over 8,700 global companies, including about 100 of the Fortune Global 500 companies, facilitating trade worth US$99.5 billion in 2019. The participants will visit the Expo 2020 Dubai.
Source: Emirates News Agency