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The Union of Arab Chambers has officially recognised the Indo-Arab Chamber as the 17th member of its joint Arab Foreign Chambers, marking an important shift in economic diplomacy between the two regions.
Speaking to ANI, the Secretary General of the Union of Arab Chambers, Khaled M Hanafy, highlighted that the inclusion of this chamber is a pivotal move intended to deepen and modernise the existing business framework. "The Indo-Arab Chamber is considered the 17th in our joint Arab Foreign Chamber... I think that integrating this 17th chamber will enable us to have more business relations with India in the Arab countries," Hanafy stated, emphasising the structural importance of this new partnership. The vision for this collaboration extends far beyond the traditional exchange of goods and services. According to Hanafy, the focus is shifting toward long-term investment and co-production rather than simple commerce. "The idea here is that we are not just seeking more trade exports and imports. We're talking about a strategic alliance between Indians and Arabs, with projects that could be located in the Arab countries and in India and target many other markets, not just target each other's markets," he explained. This approach suggests that India and the Arab world are looking to leverage their combined strengths to become a global manufacturing and logistics hub. By establishing projects within both India and Arab nations, the alliance aims to use these regions as springboards for international exports. This "strategic alliance" model is designed to integrate supply chains and foster joint ventures in sectors like technology, energy, and infrastructure. As the 17th chamber begins its operations, the focus will remain on creating a sustainable economic ecosystem that benefits both regions while expanding their collective footprint in the global marketplace. (ANI)
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