United Arab Emirates (UAE), the 10th largest foreign direct investor in India with a

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total cumulative investments of more than $ 5 billion, is keen on investing in upcoming projects focussed on sectors like minerals and metals, real estate, infrastructure, aviation, ports, telecom and energy in the country.

"We have already committed up to $400 million for a special economic zone and port at Kulpi in West Bengal. We are also closely following the other port developments in India. Our investments (by UAE companies) in the next few years could be in the sectors such as minerals and metals, real estate, infrastructure, aviation, ports, telecom and energy," said ambassador of UAE, H E Mohamed Sultan Abdalla Al Owais in an interactive session organized by CII (Eastern Region) on Friday.

The bilateral trade between the two countries was almost $44.5 billion in 2008-09 which is an increase of about 53% compared to $29.1 billion during 2007-08 and we hope to maintain this growth rate in the next fiscal, Owais added. United Arab Emirates with a population of 5 million has about 1.75 million Indians who constitute about 42.5% of a strong workforce of the country. Referring to the UAE-India trade and economic relations, the UAE ambassador informed that UAE is now India’s number one trading partner, outstripping China and USA.