To boost plastic trade between India and UAE, the government-sponsored Plastics Export Promotion Council (Plexconcil) on 4 February announced the signing of a memorandum of understanding (MOU) with Al Fajer, the organizers of Arab Plast.
The MoU was signed in presence of Hemant Minocha, chairman of Plexconcil, Sribash Dasmohapatra executive director of Plexconcil, and Nadhal Mohamed, general manager, Al Fajer, UAE, during the PlastIndia 2023 show at Pragati Maidan.
In coordination with Al Fajer, Plexconcil aims to work towards its long-term objective of enhancing exports to the ME region and beyond. Al Fajer has supported Indian participants for mutual success. The 16th Edition of the biannual ArabPlast, a trade fair for the plastics, petrochemicals, packaging, and rubber industry will be held from 13 to 15 December 2023 at the Dubai World Trade Centre. The trade was conceptualized under the leadership and guidance of Sheikh Hasher Al Maktoum, the scion of the ruling family of Dubai.
“The Middle East and especially UAE is an important export destination for Indian plastics,” said Hemant Minocha. “UAE is among our Top 3 destinations. India’s exports of plastics to UAE in FY 21-22 were valued at US$ 626 million while UAE imports plastics worth US$ 9.0 billion. India’s share of UAE’s imports is only 7 %. However, India has the potential to increase exports to the tune of US$ 5.0 billion,” Minocha said.
India exporters have experienced much business success and Arab Plast is one of the most popular trade shows for Indian exporters in the international event calendar for plastics. Products with good export potential to UAE include consumer and houseware products of plastics, plastic films and sheets, and medical items of plastics.
UAE is located in the Middle East, providing Indian exporters access to surrounding regions and markets in the rest of ME, Eastern Europe, North Africa, West Africa, and more.
“India is a very important market for UAE and both countries enjoy historically strong trade ties, said Nadhal Mohamed. “Our association with Plexconcil has been a rewarding one for over a decade, and we are confident that this partnership will once again be fruitful for industry growth,” he said.
“We take great pride to say that ArabPlast is the flag bearer in the Middle East for the plastics, petrochemicals, packaging, and rubber industry,” Mohamed said. He pointed out that the trade fair has been mustering exhibitors and visitors from all over the globe, with India, Europe, Taiwan, and China being the largest contributors.
“India and the UAE have recently signed the bilateral trade pact that will have a significant impact on both the countries in terms of trade as well as job opportunities and the Indo-UAE trade is expected to hit the US$ 100-billion mark by 2027. The two countries are also in talks to settle the non-oil trade in Rupees, and once it comes into effect, there will be a significant boost to the trade economy for both countries,” he said.