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Department of Economic Development highlights Abu Dhabi Industrial technologies and Investment Opportunities at IETF 

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Department of Economic Development highlights Abu Dhabi Industrial technologies and Investment Opportunities at IETF 

Saturday, February 12, 2011
Abu Dhabi Department of Economic Development (DED) participated in the three-day India Expo - International Engineering and Technology Fair 2011 (IETF) which was concluded in New Delhi. The DED presence, which hosted some of Abu Dhabi’s factories and several UAE investors and small and medium entrepreneurs, was part of the inaugural and main partner UAE’s Pavilion held the patronage of the UAE Foreign Trade Ministry. Dr. Adeeb Al Afifi, Director of Exports Support and Foreign Trade, DED’s Economic Relations Sector, stated that IETF was an important platform to see the latest technological capabilities of Indian and international companies taking part in the event, especially the Japanese, South Korean, Italian, French, US, and UK companies, with whom our represent ivies have met and shared possible way to boost cooperation. “The successful participation of the DED in this Fair that attracted more than 800 companies from 24 countries has been reflected in the fruitful relations the local factories have been able to initiate with the trade sector, networking with other peers who are the leaders in the technological advances, and opening new communication channels with leading industrial entities in India and elsewhere”, he explained. “IETF brings into a centre stage the new technological breakthroughs in the fields of internet engineering, manufacturing, energy and environment, while focusing on atmosphere, solid waste management, used water treatment, automation, and new machine and safety and security equipment manufacturing, all of which gain great attention by Abu Dhabi Government in the upcoming period”, he explained. Highlighting the scope of the UAE’s participation in this Fair, Al Afifi stressed that it sheds the lights on the economic relations between the UAE and India. “UAE’s imports from India in 2009 were AED 61.600 billion compared to AED 22 billions exports. Re-exports to India in 2009 were AED 451.300 millions.” With regards to Abu Dhabi, Dr. Al Afifi stated that 4365 Indian companies are operating in the Emirate, and the trade exchange between both parties were approximately AED 3 billion by 2010: Abu Dhabi’s imports from India were AED 1.706 bn, exports AED 643.300 million and re-exports AED AED 434.420 million. In 2009 Abu Dhabi’s imports from India were more than AED 2 billion compared to AED 500 million of exports and AED 39 million of re-exports. “Such very healthy trade activities will help fuel joint partnerships and cooperation in the private sector in Abu Dhabi and India through exhibitions and fairs that both parties host”, he explained.  A highlight of commodities and goods that represent the majority of exports, imports and re-exports include: live animals and their products, plants, oils, foods, beverages, tobacco, mineral products, chemical industry products, plastic, rubber, leathers, wood, scraps, wastes, paper, textiles, glass, gemstones, spare parts, transport vehicles, and medical equipment. Al Afifi added: “The DED’s presence at IETF will undoubtedly increase and support further traded commodities between both sides, especially manufacturing products such as chemical ones. Some of entities participated under the DED’s umbrella have singed initial agreements to set up strategic partnerships with their Indian and international counterparts, especially in technology and technological expertise in engineering and industry.” “In planning for this Fair, the DED has carefully selected factories to achieve the maximum benefits while reflecting a high profile image of the UAE-manufactured products in front of global importers and visitors. Some entities participated in the Fair included: Bin Hazeem for Plastic Industry LLC,  Al Jazeera Factory for Construction Materials, Axid Geotextile Factory, and Exeed Geo-textiles Factory, all of which adopt state of the art technologies that are in line with standards set by the DED”, he stressed. With regards to Abu Dhabi Economic Vision 2030 that calls for a more active role for non-oil industries in GDP of the Emirate, Al Afifi reiterated that Abu Dhabi’s strategy aims to build a knowledge-based economy and taking part in this Fair pinpoint this approach by allowing the Emirate’s factories to network with leading technologies. Al Afifi also thanked the Ministry of Foreign Trade for their ongoing support to local companies to take a more role in exports and foreign investments. “The UAE’s participation for the first time in this important platform and being the main partner of the Fair as the sole Arab country allows it an excellent opportunity to showcase its industries, technologies, and products  while highlighting facilities and favourable options it offers to attract foreign investments.” “According the Indian Government, this country is witnessing a very healthy economic growth forecasted 8.6% at key industrial, financial, real estate and construction sectors. This is a very positive indicator that will encourage the UAE companies to participate in India-hosted fairs and exhibitions”, he concluded. The bi-annual IETF is one of the major Indian exhibitions. First launched in 1975, the event progressed from a local one into international platform in 1985 with them participation of Italy as the first country. The Fair attracts leading industrialized countries such as US, Japan, South Korea, France, the UK, as well as many other states.
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