Dr. Khaled Hanafy and Dr. Waiel Awwad represent the UAE at GEC 2026, strengthening Arab participation in global economic dialogue

MUMBAI, India, Feb. 19, 2026 /PRNewswire/ — India’s inaugural Global Economic Cooperation (GEC) 2026 forum, convened by the Future Economic Cooperation Council (FECC) opened in Mumbai this week, bringing together senior government leaders, multilateral institutions and global business voices to shape practical frameworks for economic cooperation in an increasingly multipolar world.

The United Arab Emirates was represented at the forum by Dr. Prof. Khaled Hanafy, Secretary General of the Union of Arab Chambers, and Dr. Waiel Awwad, Director General of the Indo Arab Chamber of Commerce, Industry and Agriculture, underscoring the depth of India–UAE economic engagement and the Arab world’s institutional participation in global economic dialogue.

Dr. Prof. Hanafy joined the forum’s high-level opening discussion on the ‘Great Global Realignment’, a session examining how sovereign states and global corporations can jointly author a new era of economic stability amid shifting trade architectures and reconfigured supply chains. Dr. Awwad participated in discussions focused on strengthening trade linkages and expanding commercial cooperation between India and the Arab region.

The three-day forum, convened by the Future Economic Cooperation Council (FECC) in cooperation with India’s Ministry of External Affairs, brings together senior ministerial and business delegations from major economies including France, the United Kingdom, Australia, Seychelles, Sri Lanka and the United States, alongside the UAE.

A message from Prime Minister Narendra Modi, read at the forum’s opening, described India as “a confident and credible voice of the Global South, shaping global conversations and contributing to a more balanced and inclusive world order.”

In his inaugural address, Dr. S. Jaishankar, Hon’ble Minister of External Affairs, said, “The world has entered an uncertain era, where long-standing assumptions are being questioned and key dimensions are transforming simultaneously, be they strategic, political, economic or technological. In such a landscape, the argument for de-risking and diversifying across the entire spectrum from sourcing to production, and to markets, becomes more compelling by the day. It is in this context that GEC 2026 assumes relevance, providing a platform to deliberate on resilient supply chains, trusted partnerships and balanced frameworks of global economic cooperation. India’s response has been to further build national capabilities, address growth challenges comprehensively, and engage international partners more intensively from a position of strength. As we move towards our goal of Viksit Bharat by 2047, we seek not only to contribute to global growth, but also to global stability, predictability and trust.” 

These principles carry particular weight in the context of India-UAE relations, which have deepened substantially in recent years. The Comprehensive Economic Partnership Agreement (CEPA) signed between the two countries in 2022 marked a turning point, with bilateral trade now estimated at approximately $85 billion annually, making India the UAE’s largest trading partner. The UAE’s participation in GEC 2026 reflects the momentum of that relationship and both nations’ interest in shaping the next generation of cross-regional economic frameworks.

Commenting on the significance of the forum, Shri Devendra Fadnavis, Hon’ble Chief Minister of Maharashtra and Chief Patron of FECC, said, “We meet at a time when the global order is recalibrating. Global trade growth is undergoing a major upheaval. Supply chains are reorganising. Strategic sectors, semiconductors, energy, food, rare earth, AI are now embedded in national security doctrines. Capital flows are increasingly guided by geopolitical alignment, not just returns. In this era of economic statecraft India’s rise is not accidental – it is structural and GEC 2026 is a platform to architect the next framework of cooperation. From Mumbai, a city built on maritime trade, entrepreneurial spirit and global engagement, let us shape an economic order that is resilient, inclusive and strategically stable.”

The forum is led by Shri Vijay Chauthaiwale, and Ms. Priyam Gandhi-Mody, Director, FECC. It is guided by an Advisory Council comprising leading industry figures of India, including:

• Mr. Anand Mahindra, Chairman, Mahindra Group
• Mr. Baba Kalyani, Chairman and Managing Director, Bharat Forge Limited
• Mr. Cyril Shroff, Managing Partner, Cyril Amarchand Mangaldas
• Mr. Adil Zainulbhai, Chairman, Network18 Group

Over the next three days, leaders from governments, multilateral institutions and global corporations will deliberate on financial resilience, long-term infrastructure capital, trade corridors, competitiveness, and supply chain diversification. Sessions will also examine artificial intelligence, technology transitions, sustainability, ESG priorities, and women’s leadership in driving inclusive growth.

The GEC 2026 aims to reinforce India’s expanding influence in shaping the direction of global economic dialogue at a time when economic power is increasingly diffused across a multipolar world. India will leverage this forum to advance its position as a trusted economic partner, investment destination, and bridge between developed and emerging economies.

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SOURCE Future Economic Cooperation Council (FECC)