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Mr R.L. Kannan, Director for South Indian & Goa – Asian Arab Chamber of Commerce

by Kanchi Batra - 26 March, 2021, 12:00 555 Views 0 Comment

Q.There is definitely the potential for synergy between India and Arab countries. What, in your opinion, are the opportunities between the two regions that could be harnessed post-Covid-19?

India’s cooperation with this region has become more comprehensive, moving beyond the oil-energy trade to include military-security ties, maritime cooperation, strategic oil reserves, joint energy exploration projects, and mutual investments. Various agreements and MOUs between both the regions have encouraged cooperation in a wide range of fields, including health, medical science, medical education, and research, as well as the establishment of joint working groups for smooth and regular discussions on these issues.

Q.How do you plan to work in lines for AACC to engage more businesses and connect Tamil  Nadu to the Arab world for investments etc.?

The Covid-19 pandemic has brought an additional set of challenges to the economies of the region. The region has been struggling to attract more and better FDI, constrained by investment climate weaknesses and regional geopolitical tensions. The extent to which this is possible will depend on sustaining existing reforms underway, enacting targeted new strategies and measures for the post-COVID-19 context, and reinforcing regional cooperation. This provides an overview of the impact of the Covid-19 crisis on investment in the region. Looking at the possibility of the right connection from the Arab, it must be linked with Tamil Nadu. We are planning to take a business delegation to the region.

Q.As the National Director- AACC, how do you plan to support the cause of bridging the Indian relations with the Arab region?

Saudi Arabia and the UAE are India’s fourth and third-largest trading partners. Both these gulf countries are aspiring to increase their trade volume and investments in India during the next couple of years. Alongside this dimension, which is important for India’s economic growth, both sides have also taken note of the need to strengthen bilateral engagements in the health and medicine sectors. We flagged the need to maintain regular contacts during the crisis as well as to exchange relevant information on the pandemic, and to jointly explore possible cooperation to tackle this problem.

 

Kanchi Batra
Kanchi Batra
Kanchi Batra is the Business Editor of The Diplomatist.
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