ASSOCHAM to encourage the export of food, textiles, and paper from Amritsar

Amritsar: The Associated Chamber of Commerce and Industries of India (ASSOCHAM), one of the oldest apex chambers in India, is organizing B2B Meetings with a visiting delegation from Sharjah Airport International Free (SAIF) Zone on 21 and 22 June at Hotel Taj Swarna, Amritsar. The agenda of these meetings is to explain the benefits of Free Trade Zones to businesses in the Amritsar region and explore newly emerged business and investment opportunities in the UAE.

Amrit Sagar Mittal, Chairman, ASSOCHAM North Region Development Council & Vice Chairman, International Tractors Ltd, said, “ The India-UAE CEPA (Comprehensive Economic Partnership Agreement)  is the first comprehensive bilateral trade agreement in a decade and it will increase the flow of goods, services, investments, technology and work opportunities for Indian Businesses, bringing strong multiplier benefits across sectors. Agri and Food Products along with textiles are one of the major export items from India to the UAE. However, with the CEPA in place, there is a huge scope for other Punjab industries like Readymade Garments, Auto Components, Sports Goods and Equipment, etc. also to export to UAE. The aim of these meetings is to apprise the participants on trade and investment opportunities in the UAE, especially in Sharjah Airport International Free (SAIF) Zone."

There is no participation fee to attend these meetings, however, pre-registration is mandatory. For registration, you can contact Anshumali Bajpai at 78003 59000 or send an email at anshumali.bajpai@assocham.com. More than 40 companies from Amritsar have already confirmed their participation.

The United Arab Emirates (UAE) has long been an attractive destination for entrepreneurs the world over, because of a well-developed and diversified economy, excellent infrastructure and transport links, and a unique low tax regime. But while these may be the factors that get the headlines, there’s another major reason why so many flocks to the UAE’s shores to conduct business - Free Zones. Also known as free trade zones, these are economic areas where goods and services can be traded. Free trade zones attract 0% tax rates, 100% Ownership, preferential customs duty rates, and 100% import and export tax exemption.

SAIF Zone was established in 1995, and it is the oldest free trade zone in the UAE, with the best facilities providing land for offices, warehouses, and industry. Being very close to Sharjah International Airport, this zone is a very suitable destination from the point of view of trading, manufacturing, and logistics. There are also many subsidies and incentive schemes for the traders setting up their business in this zone. This trade zone is a focal point for those looking to set up their industry in Dubai.

From single office space to an entire manufacturing unit, Sharjah Airport International Free Zone has the resources to meet every need. There are currently 7000 companies from all over the world in the Sharjah Airport International Free Zone, out of which 2000 are Indian companies.