Abu Dhabi, July 10 (IANS/WAM) India's Bank of Baroda has signed an agreement with Khalifa Industrial Zone Abu Dhabi (Kizad) to provide a range of commercial banking services, it was announced Sunday.

Kizad is seeking foreign direct investment in line with the Abu Dhabi Economic Vision 2030 plan that aims to diversify the economy with knowledge-based and capital intensive industries. Joint marketing activities are also planned.

Khaled Salmeen, executive vice president of industrial zones at Abu Dhabi Ports Company (ADPC), said: "The close association with such a strategic and global financial partner is essential in showcasing Kizad's unique advantages to India and other countries that Kizad will be targeting through its international road shows.

"Our partnership with Bank of Baroda will play an important role in supporting and sustaining our efforts in the Indian subcontinent."

Ashok K. Gupta, chief executive GCC Operations, at Bank of Baroda, said: "We are very happy that the two institutions have come together. With this agreement Bank of Baroda will be able to help in attracting new investments to Kizad, a very prestigious special industrial zone, by supporting industries and attracting investors from India and other parts of the world.

"Bank of Baroda, which is already contributing to the economic and industrial growth of Abu Dhabi, will be able to contribute more to the development of this great country and work towards the objectives envisaged under the Abu Dhabi 2030 economic vision."