Ras Al Khaimah Economic Zone (RAKEZ) and the Indian Chamber of Food and Agriculture (ICFA) signed a Memorandum of Understanding (MoU) aimed at fostering mutual growth and development within the food and agriculture sectors of the UAE and India.

The MoU was signed by Group CEO of RAKEZ Ramy Jallad and ICFA Chairman Dr MJ Khan, adding yet another area of strategic collaboration between the two countries. This alliance seeks to create opportunities for knowledge exchange, trade promotion, investment, and research and development collaboration.

The agreement is set to facilitate promotional activities for trade, market access, and business matchmaking opportunities between the Indian food and agriculture companies and businesses in the RAKEZ ecosystem. Through this collaboration, both RAKEZ and ICFA will actively identify and promote investment opportunities for Indian businesses within the economic zone, providing an attractive gateway to the Middle East for Indian enterprises.

The MoU also envisions the fostering of research and development collaborations between Indian and RAKEZ-based institutions. This initiative will primarily focus on advancing agricultural innovation, crop improvement, sustainable farming practices, and food processing technologies.

Both organisations are positive that this business relationship will stimulate economic growth and foster innovation within the food and agriculture sectors in India and the UAE.

CA Harikishan Rankawat, President of the Federation of Indian Industry (Dubai Chapter) and Chairman of the Institute of Chartered Accountants of India (Dubai Chapter), said, “We are keen on supporting this collaboration between RAKEZ and ICFA to promote the trade and investments between the UAE and India. Our team is already dedicated to bringing a fresh perspective and innovative ideas to the table, leveraging our relationship with various industries in India and the UAE.”