To give a boost to bilateral trade between India and the United Arab Emirates (UAE), Crown Prince of Sharjah Sheikh Sultan bin Mohammed bin Sultan Al Qaasimi will visit India, in October this year.Qaasimi accepted the invitation at the behest of the Associated Chambers of Commerce and Industry to organise intensive business interactions that take the current level of trade of $19 billion to over $25 billion by 2010.In a statement issued here, Venugopal Dhoot, president Assocham and chairman and managing director, Videocon group said that the Prince has not only agreed to visit India but indicated that he would like to address the entire Indian business community and evolve afresh a mechanism as per which the two countries can together aim for larger trade volumes.After meeting Qaasimi in Sharjahan recently, Assocham signed four memorandum of understanding related to setting up solar energy projects, IT and technology parks, facilities for higher education among others.Assocham has also submitted a blue-print of future two-way trade between India and UAE and its projections. According to the findings blue-print findings, Indo-UAE total two-way trade is likely to exceed $25 billion by 2010 with trade balance remaining in India's favour.
