Abu Dhabi Department of Economic Development (DED) inked a cooperation agreement with Industrial Union Society (IUS) to jointly prepare studies on general strategies, policies, and regulations being developed, formulated or suggested by any party to help attain Abu Dhabi’s 2030 Economic Vision.
As per the agreement, both parties will collaborate to provide information and data, exchange experience, and organize sessions and conferences that help fuel the industrial sector while supporting industrialists in Abu Dhabi by tackling difficulties they face, promoting their products, and helping open new markets for Abu Dhabi-based factories.
The agreement was signed at DED by HE Mohamed Omar Abdulla, the Undersecretary of DED, and Engineer Dhafer Ayed Al Ahbabi, Chairman of IUS, and was attended by senior representatives from both sides.
Speaking at the event, the DED’s Undersecretary highlighted that the Department is committed to constantly providing economic suggestions and policies and preparing plans in cooperation with government entities and concerned local and federal parties in order to meet the rapidly-growing development in Abu Dhabi, which deem the need for more cooperation and collaboration channels inevitable.
“We at DED are keen to create an advanced regulatory environment by proposing economic activity-organizing legislations, preparing necessary studies to help drive the role of the private sector, and suggesting policies and strategies that help thrive this sector and attract investors through hosting sessions and economic conferences in both Abu Dhabi and the wider UAE”, HE said.
“IUS is taking a leading role to develop the industrial sector in Abu Dhabi by providing a wide spectrum of services to its members, helping to find solutions for their problems, whilst working to support members’ works and services by means of promoting them locally and internationally. IUS took an important role to prepare Abu Dhabi Industrial Strategy, which, now accomplished and yet to be reviewed and studies by strategic partners in Abu Dhabi, will be a focal transformation achievement in developing the industrial sector in the Emirate”, HE explained.
Engineer Dhafer Ayed Al Ahbabi, Chairman of IUS, stressed that the agreement with DED will help pave the way to more and better cooperation and consultations in industry-related general strategies, policies and regulation, thereby helping both parties to attain and implement Abu Dhabi 2030 Economic Vision.
“I would like to deeply thank our Wise Leadership for their great support to the industry and industrialists, and for DED for its efforts aimed to formulate a comprehensive industrial growth strategy for Abu Dhabi. We at IUS will facilitate all our capabilities to serve the industrial sector and work closely with DED to elevate it to best-of-breed international standards”, he said.
IUS has 120 members who represent more than 300 factories working in cosmetics, food, textiles, leathers, fiber glass, plastics, chemical and metal products, recycling, construction materials, paper, and wood.
Details of agreement
Both parties agreed to cooperate in mutually-interesting economic information and studies by working together to periodically exchange information, data, opinions, and expertise that help optimize the industrial sector in Abu Dhabi whilst providing information and plans to help promote it.
Both sides also agreed to exchange invitations to industrial-centric sessions, conferences and workshops organized by any side, and to collaborate to activate and implement economic strategies important to the industrial sector.
DED and IUS will cooperate in international relations (exports) by coordinating and collaborating to exhibit and promote local industrial products and services in inbound and outbound industrial-related exhibitions which any party might organize or take part in to support the other.
Scope of cooperation included highlighting investment opportunities in the industrial sector, as well as collaborating in commercial affairs issues such as joint efforts with related parties to activate the implementation of proprietary rights protection law items, such as local industrialists and producers against commercial forgery and international piracy.
Finally the agreement stated that in order to implement what has been agreed upon, a joint committee will be set up. This committee is mandated to monitor mechanisms and procedures that help activate agreement items, hold periodic joint meetings to implement activities and programmes, and prepare reports on the committee’s activities and recommendations to the higher managements of both parties.