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The Ministry of Foreign Trade has affirmed that the UAE's non-oil sectors are continuing to witness many positive developments and achieve high growth rates in comparison with previous years, stating that this has created considerable opportunities to strengthen the participation of industrial investments that would further contribute towards strengthening and completing the government's rapid economic transformation strategies that it pursued under the country's wise leadership.
The country's industrial exports grew by 16.1 percent from 2010-2011 reaching AED 50.4 billion in 2011, up from AED 43.4 billion in 2010 (gold bullion excluded). The Ministry pointed out in a statement issued on the sidelines of its participation in the five day "Made in Sharjah Exhibition 2012", which is scheduled to start tomorrow and see the participation of 300 industrial entities, that the national industrial sector now leads the transformation march in the non-oil sectors, underlining the importance of the role played by the country's industrial zones, which have become an important source of national income and a contributor to raising the country's export industries share.
It added that the UAE's business climate is well positioned to attract foreign investments in the sector and that this has been further aided by the country's advanced standing in doing business indicators and national economy confidence figures, as well as the country's advanced infrastructural, logistical and technical prowess and its competitive facilitations that are provided in a tax-free environment. The statement also added that In 2011, the country's GDP for the manufacturing sector was over AED 100 billion.
Mr. Mohammed Nasser Hamdan Al Zoaby, head of the Ministry's Trade Promotion Department, said that the UAE now provides an ideal example to be followed in organizing fairs and conferences and has become a regional and global hub for attracting specialized expos and conferences. He pointed out that the country does this in order promote trade and benefit from the experiences of others, create dialogue and contribute towards technology transfer into the UAE.
Al Zoaby added that the Ministry of Foreign Trade is keen on supporting these fairs and participating in them, pointing out that the Ministry is taking part in the Made in Sharjah Exhibition with a booth that will showcase many reports and data that will contribute towards supporting the decision making process of investors with the aim of promoting the UAE as a suitable environment for attracting foreign investments.
He also said that the Ministry regularly organizes and takes part, with the participation of other national entities, in specialized international industrial fairs and other fairs as well. He also thanked the Sharjah Chamber of Commerce and Industry for organizing this event.
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