UAE manufacturers urged to take advantage of local port operators' global presence
Speaking during a panel discussion at the Make it in the Emirates in Abu Dhabi on Monday, Dr Thani Al Zeyoudi, UAE's minister of state for foreign trade, encouraged local exporters to take advantage of the strong presence of DP World and Abu Dhabi Ports within and outside the UAE.
'They are important and play a key role in logistics sectors. They are very important in the world, managing more than two-thirds of global ports,' he added.
The Dubai-based global ports operator DP World has presence across dozens of countries, managing ports, economic zones and logistics facilities in America, Asia, the Middle East, Africa and other regions.
Abu Dhabi Ports owns and operates 10 ports and terminals in the UAE. Each facility is strategically located, harnessing sea, air, road and rail connectivity to provide gateways to global markets.
This wider presence across various countries of local port operators makes it even easier for local manufacturers and exporters to export their goods globally.
The fourth edition of the Make it in the Emirates exhibition and conferences is taking place from May 19 to 22 at Adnec Centre in Abu Dhabi, showcasing various products manufactured locally from defence to AI to space.
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Dr Thani added that the UAE offers opportunities to manufacturers to tap a 2.5 billion wider market in case of supply chain challenges in the region.
He pointed out that the Middle East market is just around 500 million, therefore, the bigger 2.5 billion market 'helps a lot in providing alternatives for UAE manufacturers in case of supply chain issues".
Within a four-hour radius, exporters in the UAE can reach over 2 billion people. Located at a crossroad between east and west, the UAE greatly benefits from its central location. In addition, exporters can cash in on the strong connectivity that UAE carriers Emirates, Etihad and flydubai provide.
The minister noted that studies show that trade agreements increase countries' GDP by 15 per cent.
'Comprehensive Economic Partnership Agreements (CEPAs) guarantee investors bigger markets,' he said, adding that more CEPAs 'will be signed in the coming few weeks".
The minister stressed that each emirate complements the other when it comes to economic diversification of the economy.
'We have the UAE Industrial Council and there are representatives of all stakeholders. Plus, coordination of policies is happening and we are working to overcome challenges that manufacturers face. We are keen to attract more investment. We want natural resources that are affordable and sustainable because we want prices to be stable as volatility will harm the credibility of the market. We need competency and skills in the manufacturing sector. Our products are exported everywhere in the world.'
The minister stated that they're coordinating with local and federal stakeholders in attracting talent from other countries as well as through the Nafis programme dedicated to UAE citizens.
Speaking during the panel discussion, Ahmed Al Zaabi, chairman of the Abu Dhabi Department of Economic Development, revealed that the number of factories has tripled in the manufacturing sector in the Capital over the last few years.
'We have many initiatives through which we can help to open a factory, provide funding and import raw materials."
In the last two years, Al Zaabi noted that the industrial sector's contribution to Abu Dhabi GDP has grown by over 22 per cent from Dh91 billion to Dh111.6 billion.
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