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ADDED reiterates support for manufacturers to increase Abu Dhabi’s non-oil exports to $49 billion by 2031

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Abu Dhabi: The Abu Dhabi Department of Economic Development (ADDED), in partnership with the Emirates Development Bank (EDB), Abu Dhabi Export Office (ADEX) and Etihad Credit Insurance Corporation (ECI), organized the Export Manufacturers CEO Forum ‘ Discusses problems and solutions for increasing manufacturers’ exports.

ADDED reaffirmed its support for the manufacturing sector, with an effort to increase the UAE’s non-oil exports from AED73.5 billion in 2021 to AED178.8 billion by 2031 by providing a conducive ecosystem to achieve 143% growth.

Improving Abu Dhabi’s industrial trade with global markets is a key objective of the Abu Dhabi Industrial Strategy (ADIS). The strategy aims to strengthen the UAE’s role as a global leader by increasing Abu Dhabi’s manufacturing sector from AED83.5 billion in 2021 to AED172 billion by 2031 by investing AED10 billion in six transformational plans Status as the most competitive industrial hub in the region. To this end, ADDED is launching initiatives to increase access to financing, improve ease of doing business and attract foreign direct investment.

The Industry CEO Forum was attended by ADDED Deputy Minister Rashed Abdulkarim Al Blooshi, ADDED Director General for Economic Affairs Sameh Al Qubaisi, EDB CEO Ahmed Mohammed Al-Naqbi and Acting Director General Khalil Al Mansoori ADEX and ECI CEO Massimo Falcioni and 54 Manufacturers’ CEOs and senior managers will account for 62.8% of Abu Dhabi’s industrial exports in 2021.

Rashed Abdulkarim Al Blooshi, Deputy Minister of ADDED, said: “This forum is part of our efforts to achieve the ambitious goals of the Abu Dhabi Industrial Strategy by working closely with manufacturers, making a positive contribution to increasing non-oil exports.

“Despite the challenges facing the global economy, Abu Dhabi’s non-oil trade increased by 12% to AED124 billion in the first half of 2002, while exports increased by 26% to AED49.5 billion. In addition, the performance of the industrial sector made Impressively, with an additional 136 industrial licenses issued, our total number of active production plants is now thriving at 866 and playing a greater role in achieving our strategic goals.”

To increase bilateral trade and establish itself as a “gateway to the world”, the UAE has signed Comprehensive Economic Partnership Agreements (CEPA) with India, Indonesia, Israel, and plans to sign eight more with strategic partners in the near future. Agreement to increase bilateral trade by Dh40 billion a year.

CEPA will further strengthen economic cooperation between the UAE and strategic partners, expand market access, and increase mutual investment opportunities as these agreements stimulate flows and remove tariffs and other barriers to trade and investment.

ADDED’s ongoing, open dialogue with business leaders has led to initiatives that meet business expectations in facilitating trade and ensuring ease of business by reducing costs and requirements, streamlining procedures and enabling seamless integration of government services.

As part of ADDED’s efforts to achieve Abu Dhabi’s Industrial Strategy, it focuses on improving the financial ecosystem by increasing access to finance and providing manufacturers with best-in-class infrastructure, platforms and trade facilitation solutions to reduce their time and cost. Export. In addition, ADDED has launched many initiatives to reduce production costs and open up new markets, and new initiatives are in the pipeline.

Senior executives from EDB, ADEX and ECI speak at the Industry CEO Forum to showcase their financial and trade facilitation solutions.

Amjad Saleh

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