The Indian Institute of Foreign Trade (IIFT) will open its first overseas campus at Expo City Dubai in a cooperation agreement that will advance commercial and educational interests between India and the UAE.

The agreement, signed on Thursday following the launch of the new Expo City Dubai master plan, demonstrates the importance of Expo City Dubai’s position as the new centre of Dubai’s growth and a hub for key sectors driving Dubai’s Economic Agenda (D33).

IIFT, regarded as an academic centre of excellence in international business research, training and education, will establish its first campus outside of India at the former Expo 2020 India Pavilion, working with Expo City Dubai on research projects and other knowledge-sharing activities focused on sustainability and innovation.

Her Excellency Reem Al Hashimy, UAE Minster of State for International Cooperation and CEO of Expo City Dubai Authority, said: “Our strategy at Expo City Dubai is to support and drive the long-term growth objectives of the UAE, and we welcome all those who share our vision of a more connected, sustainable, prosperous future. IIFT is a world-class institution expected to significantly enhance India’s trade and investment, and we look forward to collaborating on a range of educational and commercial activities.”

Professor Rakesh Mohan Joshi, Vice Chancellor of IIFT, said: “IIFT’s mission is to support India’s international commercial prospects, educate future global business leaders and develop best practices in sustainability and innovation – values that Expo City Dubai shares and exemplifies. The city’s world-class connectivity and strategic location, as well as the honour of repurposing the former India Pavilion to continue the connecting minds legacy of Expo 2020 Dubai, make Expo City a natural choice for our first overseas campus.”

IIFT is expected to move into its premises by early 2025, initially providing short- and medium-term training programmes and research initiatives. In the future, the campus will also offer IIFT’s flagship Master of Business Administration (MBA) in International Business.

This latest agreement builds on a range of bilateral agreements between India and the UAE, including a mechanism to settle trade in local currencies and the Comprehensive Economic Partnership Agreement (CEPA), which boosts trade by cutting tariffs, fast-tracking approvals for businesses and improving access to trade zones. Non-oil bilateral trade is expected to reach USD 100 billion by 2030 with the UAE India’s second top export destination after the US and India the UAE’s second largest trading partner after China.

More than 3.8 million Indians live in the UAE, forming the largest community, with an estimated 90,000-plus Indian companies, across a wide range of sectors, operating across the country.