(MENAFN - Khaleej Times) Shaikh Nahyan bin Mubarak Al Nahyan, UAE Minister of Higher Education and Scientific Research, lauded the role of chartered accountants in the safeguarding national economies and corporate governance and described them as "reliable pillars" of an economy.
Speaking at the opening session of the 30th annual International Conference of the Dubai chapter of Institute of Chartered Accountants of India, or Icai, on the theme "The Global Economy - Poised for a Paradigm Shift", Shaikh Nahyan stressed that accountants should be high-calibre professionals, upholding highest standards of integrity, independence and competence.
These factors will help them achieve the objective of building confidence in an economy.
"The recent global financial crisis affected all, and the UAE and India were no exceptions," he said.
"Both countries fared rather well and are now leading the recovery. This is due to the underlying strengths of both countries. India and the UAE are working to boost trade, investment, research and education exchange. We value the friendship with the people of India and want to enhance it."
Shaikh Nahyan told the conference that the UAE was working to make the country the best knowledge-based economy in the world, and UAE values accountants because they have the competence to maintain stability in a changing business world. The two-day conference was held in the presence of Indian Ambassador to the UAE M.K. Lokesh, Indian Consul-General Sanjay Verma, top Icai officials and invited speakers.
Noted Supreme Court advocate Harish Salve has said that recent political and economic developments were an indicator that "India is recalibrating itself", and despite challenges like corruption, the country was poised for a great future.
Addressing the Conference on "Democracy and Growth" Salve pointed out the India was reaching a new stage of maturity which is exemplified by, among other factors, the balance of power was shifting back to the states.
Salve remarked that India was extremely successful in the experiment of democracy; and although problems do exist at the micro level, India was the world's envy at the macro level.