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Rs 2,600 cr worth MoUs signed at UEF Trade Summit

Chennai, Nov 18 (UNI) Memoranda of Understanding (MoU)s to the
tune of Rs 2,600 crore were inked at the United Economic Forum
(UEF) Trade Summit 2017 which was inaugurated here today.
The summit was inaugurated by Union Minister of Commerce and
Industry Suresh Prabhu through video conferencing in the presence
of Mr Haseeb A.Drabu, Jammu and Kashmir Finance Minister and
Sri Lankan Industry and Commerce Minister Rishad Bathiudeen.
In his address, Mr Suresh Prabhu congratulated the UEF and
extended his support to the initiatives of the forum, and wished
them all success in realisation of their vision and achievements
of stated objectives.
A total of Rs 2,600 crore worth MoU’s were signed at Summit
The previous edition in 2015 saw MoU’s signed to the tune
of for Rs 2,400 crore, thereby creating a cumulative value of
Rs 5,000 Crore from both editions of the Summit.
A UEF release here said the Summit was being organised with
the objective to bring important policy makers and investors
together, offer them extensive networking and learning opportunity,
as well as access to emerging opportunities, innovations, rising
markets, government concessions and facilitating project finance,
including Shariah-compliant funds.
The vision of UEF was to emerge as a premier forum for enabling
the backward community to become ‘formidable contributors to the
Nation’ through economic enhancement, education and social
In his inaugural address, Mr Drabu said this was an unique
platform for business interaction and for exchange of insights
on business opportunities for business communities around the
''It will also give ample opportunities for business leaders
to exchange ideas and to engage in dialogue at a higher-level
on current issues in today’s business environment'', he added.
He said the economic and business environment at present
was very competitive and needs most up-to-date and accurate
information to be shared among the stakeholders in order to be
sustained within a given framework.
UNI GV CS 1804
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