way trade between India and the United Arab Emirates (UAE) is expected to exceed $25 billion from the current level of $19 billion. During a meeting with Crown Prince of Sharjah and deputy ruler of UAE Sheikh Sultan Bin Mohammed Bin Sultan Al-Qaasimi, president of India's Associated Chambers of Commerce and Industry (Assocham) Venugopal Dhoot submitted a blueprint of future two-way trade between India and the UAE and its projections. The blueprint showed that total India-UAE two-way trade is likely to exceed $25 billion by 2010 with trade balance remaining in India's favour in view of rising bilateral relations between the two nations. Dhoot said the volume of two-way trade excludes the crude oil trade. He said the two countries had established a very close relationship, as a result of which 33 percent increase in two-way trade has been marked between India and the UAE between fiscal 2005-06 and fiscal 2006-07, according to an Assocham statement. In 2006-07, India's exports to the UAE stood at over $10 billion as against its imports of $7.5 billion. Major exports include gems and jewelry, vegetables, fruit, spices, engineering goods, tea, meat and its preparations, rice, textiles and apparel and chemicals, besides RMG cotton including accessories, man-made yarn, manufacture of metals, fabrics and made-ups, marine products, machinery and instrument and plastic products. __
