India-Arab CEOs summit to explore business alliances

Dec 5, 2006, 9:15 GMT

New Delhi, Dec 5 (IANS) About 100 Indian CEOs will be in Dubai Thursday to explore business alliances and strategies with their counterparts from the Arab world at a day-long summit.

The first India-Arab World CEO Summit, being organised by the United Arab Emirates (UAE) ministry of economy, will provide an opportunity for CEOs 'to flirt with various proposals for better collaboration to boost two-way flow of investments', said Khalid Al Malik of Tatweer, a subsidiary of Dubai Holding.

Dubai Holding is a semi-government owned company with seven entities each with several subsidiaries. Among the major projects handled by the company are Dubai's Internet City and Media City.

Representatives from 22 countries from the Arab world would be taking part in the summit, which is slated to become an annual event.

'As India charts the roadmap for higher economic growth, infrastructure investment remains a major goal, while we in the Arab World are looking for investment opportunities particularly in technology.

'In the era of globalisation, the summit will help CEOs to explore how we can mutually benefit,' Al Malik, who is also CEO of Moutamarat, a conference organising subsidiary of Dubai Holding, told IANS.

Promoted by UAE Minister of Economy Sheikha Lubna bint Khalid Al Qassimi, the event is being managed by Moutamarat with the Confederation of Indian Industry (CII) as partner.

'The knowledge-based event will provide a platform for exploring opportunities and networking, and help explore strengths of different countries. We see lot of opportunities in India and this platform will help us build bridges between India and the Arab World,' said Al Malik.

'Part of the Arab world's efforts to strengthen ties with Brazil, Russia, India and China or the BRIC initiative, the initiative aims for closer cooperation with the four economies as part of the globalisation strategy,' he said.

India would be hosting the second summit in 2007. Moutamarat is exploring possibilities of holding a similar exercise with Chinese CEOs next year. This would be followed up with meetings with Brazilian and Russian CEOs, possibly in 2008.

Based on a knowledge report by global consultants Mckinsey and Ernst & Young, Al Malik said the plan was to have at least two CEO summits every year. The platform is also expected to help CEOs to voice views on investment hurdles and get speedy redressal.

© 2006 Indo-Asian News Service