Indo-Israel Chambers of Commerce international federation launched in UAE

An international federation of the Indo-Israel Chambers of Commerce (IFIICC) was launched in the UAE to broaden the relationship between the diasporas of India and Israel around the world and exploring the possibility of trilateral cooperation with the Gulf state, it has been announced here.

According to a statement released here, the launch was announced in a private event in the presence of Pavan Kapoor, Indian Ambassador to the UAE, Dr Ahmed Abdul Rahman Al-Banna, UAE Ambassador to India, and Dr Dan Shaham, Head of the Mission of Israel to the International Renewable Energy Agency (IRENA).

The mission of the International Federation of the Indo-Israel Chambers of Commerce (IFIICC) is to foster innovation, commerce, investment, cultural exchange and goodwill between the diasporas of India and Israel around the world.

Building on the momentum of the Abraham Accords, Dr Ron Malka, Ambassador of Israel to India, and Sanjeev Kumar Singla, Ambassador of India to Israel, attended virtually.

During the launch, a discussion on the tripartite opportunities was led by Chairman Merzi Sodawaterwala and Founding President Raviv Byron. Reuven (Ruvi) Rivlin, President of the State of Israel in his letter to IFIICC, wrote: “Creating and supporting business links between Israel, India and Gulf states, and with the Indian diaspora across the region, indeed around the world, is an undertaking of great importance.”

Merzi Sodawaterwala, Chairman of IFIICC, said that the opportunities for collaboration between the three nations are immense.

“The UAE’s business-friendly regulatory framework, the enterprising Indian diaspora and Israel’s innovative start-up culture can jumpstart a model of business creation that can benefit the world. IFIICC provides an international platform to combine the strengths of these nations,” Sodawaterwala said.

Scientific research, IT, AgriTech and food security, healthcare and med tech, and sustainability are areas of natural synergy among the three countries. Dr Ron Malka said that the relations between Israel and India have been growing steadily in the past years.

He said that given that India and the UAE are also key strategic partners, and that Israel and the UAE have just signed the Abraham Accords, the scope of collaboration between the three nations is endless.

“I am confident that IFIICC will pave the way to a world of business opportunities under the leadership of Merzi and Raviv to harness the full potential of the India-UAE-Israel Trilateral,” Dr Malka said.

Pavan Kapoor, who was the Ambassador of India to Israel from March 2016 to September 2019, said that in the context of the recent peace accord and India’s excellent relations with both UAE and Israel, the Indian diaspora in the UAE is well placed to harness the potential of business opportunities in all three countries.

“I am very pleased to be here today and congratulate Merzi and Raviv for the launch of IFIICC in Dubai which is the hub for innovation and technology in this part of the world,” he said.

Dr Al-Banna congratulated IFIICC founders Merzi and Raviv for the launch and said that this tripartite organisation aims to provide collective leadership and coordinated actions for the business communities in Israel, the UAE and now India.

“India enjoys a strategic partnership with Israel as well as the UAE. Even though the economies of Israel and the UAE are comparable in sizes, India’s trade with the UAE is almost 12 times the size of its trade with Israel. Now, Israel and the UAE have embarked on a new chapter in their relations, presenting new business opportunities for the three countries that involve innovation,” Sanjeev Kumar Singla said.