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UAE Favourable Destination For Global Manufacturing Companies

World Trade – Abu Dhabi

Open Eyes Opinion {source: emirates news agency}

ABU DHABI, 18th February 2015 – Undersecretary of the Ministry of Defence, Mohammed Ahmed Al Bawardi, on Wednesday said that the UAE global manufacturing companies set their sights on the UAE as a favourable destination thanks to the strong belief of the country’s leaders in the importance of developing the industrial sector and building strategic partnerships between sellers and buyers as well as to the incentives given to partners and investors.

In his keynote speech at the opening of the two-day Abu Dhabi International Offset Conference (ADIOC 2015), Al Bawardi highlighted the importance of the Abu Dhabi-based Tawazun Economic Council was founded in 1990s to fulfil a vision of comprehensive and sustainable economic and social development within the UAE.

The seller-buyer partnership, he noted, has led to the creation of a vital sector that is linked with economic growth and an important element of human development.

He also noted that the Council is responsible for the Tawazun Economic Programme, formerly known as the UAE Offset Programme, established to diversify the UAE’s economy and create new ventures in various sectors through partnerships with international defense contractors.

The achievements of the Tawazun Economic Programme would not be possible without the foresight of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, who believe in the role of the Armed Forces in backing social and economic development and promoting constructive partnerships.

Al Bawardi also noted that the Ministry of Defence is keen on the integration between the main elements of the UAE defence industries, namely the UAE Armed Forces, the Tawazun Economic Council and the private sector.

Emphasising that the development of the Armed Forces is a national political priority, Al Bawardi said that the base of the national defence industry is ready for the challenge and can succeed in meeting a part of the increasing demands of the Armed Forces.

He also emphasised that UAE-made defence equipment are prioritised in Armed Forces procurement, while an effective and long-term strategic partnership between the Ministry of Defence and international defence manufacturers is put in place.

ADIOC 2015 is being organised under the patronage of His Highness General Sheikh Mohamed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the UAE Armed Forces by Tawazun Economic Council, in collaboration with the Global Offset & Countertrade Association (GOCA), UK Aerospace, Defence and Security Industries (ADS) and a host of UAE and international partners and sponsors.

ADIOC 2015 brought together industry leaders and experts in defence manufacturing and industrial participation, government and private sectors from 25 countries from the Middle East, Asia, Europe and the United States, to discuss the latest trends and to share future projections of the global offset and counter-trade.

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