World Ports and Trade Summit 2012 opens in Abu Dhabi

Under the patronage of General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, the second World Ports and Trade Summit began in Abu Dhabi today.

Sheikh Hamed bin Zayed Al Nahyan, Chairman of the Abu Dhabi Crown Prince's Court, opened the Summit at the Abu Dhabi National Exhibition Centre.

Considering the importance of the Summit, eminent personalities, including transport and economy ministers from 15 countries and more than 45 ambassadors, in addition to decision makers, industry experts and 4,000 delegates, are taking part in the event, which is organized by Abu Dhabi Ports Company (ADPC).

The main conference at the three-day Summit will discuss a number of issues related to the shipping industry and the prospects of the global economy and its impact on global trade patterns as well as other trade patterns that have evolved lately as a result of the current economic situation. Industry leaders in the fields of containerized cargo and regular shipping routes will discuss investment patterns relating to the new capabilities and their impact on supply and demand.

Sheikh Hamed stressed that the UAE, under the leadership of President His Highness Sheikh Khalifa bin Zayed Al Nahyan and General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, plays a pivotal role in the future of the ports industry worldwide. Sitting at the crossroads to the East and West shipping routes, Abu Dhabi is a global meeting place for local, regional and international decision-makers to debate, discuss and analyse key issues in the shipping, ports and trade industry, together with looking at the economic and political developments internationally that can impact world trade.

"Now in its second year, the World Ports and Trade Summit is a truly global event, reflected by the seniority and importance of international decision makers that have joined the keynote session today and will contribute to the ongoing conference programme. With so many decision makers under one roof, it is a Summit that should be attended by everyone in the industry that wants first-hand knowledge of what challenges are faced in the future and to share in the discussions that will be held here."

The opening ceremony was attended by Sultan bin Saeed Al Mansouri, Minister of Economy; Dr. Rashid Ahmed bin Fahad, Minister of Environment and Water; Major General Obeid Al Hairi Salem Al Kitbi, Deputy General Commander of Abu Dhabi Police; Majed Ali Al Mansouri, Chairman of Municipal Affairs Department; Dr. Sultan Ahmed Al Jaber, Chief Executive Officer of Masdar and Chairman of the Abu Dhabi Ports Company (ADPC); and Jamal Majid Bin Thaniah, Vice Chairman of DP World; in addition to ambassadors accredited to the State as well as senior officials from ports sector.

In his keynote address, Sultan Bin Saeed Al Mansouri reminded delegates that the World Ports and Trade Summit comes at a very relevant time when global businesses are focusing their energies on reaching out to new markets.

"Today, about 90 per cent of the world trade is conducted by the international shipping industry. The technology and efficiency improvements in the shipping sector and increased economic liberalization continue to bolster the growth of the sector. It is estimated that in the past four decades, total seaborne trade recorded robust growth, increasing more than four times in volume," Al Mansouri said.

While globalization has opened up new trade routes, increased volume of trade and elevated the global role that ports play, Al Mansouri said the industry faced several challenges today. "The shipping business in general now has to address growing piracy threats. There are regional concerns too, especially those relating to the potential closure of shipping routes. These concerns have international implications and must be addressed in the spirit of co-operation and dialogue," he said.

"Ports and shipping are perhaps the world's first truly global industry. Connecting countries, businesses and people, ports have played a key role in driving international trade. A well-established port and transport infrastructure is critical to drive the economic competitiveness of any nation by promoting cross-border trade and enhancing investment inflows," Al Mansouri said.

Over the years, the growth of the UAE as a global trading destination owes to its investments in expanding the port infrastructure. Today, according to the World Shipping Council, two of the world's Top 50 container ports are in the UAE, with Dubai featuring among the Top 10. The UAE is also among the top 20 exporters of liner goods by value, as well as in imports of containerized cargo.

"In the past few decades, ports in the UAE have recorded the highest share of volume in the GCC region. The massive investment in port infrastructure in Abu Dhabi is an example of UAE's commitment to further strengthen our competencies in ports and shipping," Al Mansourisaid.

Dr Sultan Ahmed Al Jaber said: "Hosting this Summit in the UAE, and in particular Abu Dhabi, is a privilege, and once again highlights the strategic importance of this region's geographic location between the East and the West, alongside its maritime trade." The country is witnessing soaring growth in economic, trade, industrial and social growth, he said. "All of this is the result of good planning and foresight of our national leadership as we continue to build an advanced infrastructure that will contribute to the diversification of revenue sources, increased reliance on trade and increased capacities at ports. In this context, ADPC moves forward with executing its flagship project, Khalifa Port, which will enter the operational phase by the end of this year," he said.

This year, the Summit assumes greater significance in the wake of rising costs and political instability in the region as a result of which trade patterns have come under fresh scrutiny. The Summit is an excellent opportunity for Abu Dhabi to showcase its achievements in ports and shipping industry. ADPC, which has been supporting the growth of Abu Dhabi's ambitious maritime infrastructure to realize the Abu Dhabi Vision 2030, will complete the first phase of the Khalifa Port in the emirate by the last quarter of 2012.

Abu Dhabi hosted the first World Ports and Trade Summit in March 2011, and it attracted over 3,000 visitors from 52 countries. The event is jointly organized by Turret Media and Seatrade.

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