Industry had 16% share in UAE's GDP in 2012
The UAE’s industrial sector contributed 16 per cent to the GDP in 2012, and this percentage is expected to rise by upto 3 per cent in 2013, according to Sultan bin Saeed Al Mansoori, UAE Minister of Economy. He said the UAE industrial sector was driven by three key pillars: petrochemicals, aluminium and steel.
Al Mansoori, who was speaking after the inauguration of Arabplast 2013, the trade show for rubber, plastics and petrochemicals on Monday, stressed the importance of plastics and petrochemicals industry as the UAE has made remarkable growth in the production of raw materials and in adopting best technologies and practices from countries like Germany, Austria and Japan.
Al Mansoori said petrochemicals play an effective role in bridging the import-export imbalance between the UAE and countries in North America and Europe. He said Gulf countries have invested billions of dollars in the petrochemical industry and what is required today is to export these products to the right countries.
Al Mansoori said Gulf countries and the UAE have high potential to develop their industrial sector, due to easy availability of raw materials which can be exported to industrial countries for converting into end-user products.
Arabplast 2013, co-organised by Messe Düsseldorf Germany and Al Fajer Information and Services, has emerged as No. 1 show in the world for value of onsite machines displayed and in the sales of raw materials.
Arabplast is also ranked as the No. 1 show in the region and No. 4 in the world in plastics and petrochemicals, according to Satish Khanna, General Manager, Al Fajer Information and Services. Major sponsors for Arabplast 2013 include Qapco, Borouge, Natpet, Petrorabigh and Tasnee.
Arabplast 2013 is 34 per cent bigger than the 2011 edition, following greater response from exhibitors and sponsors. 900 companies from 41 countries are participating in Arabplast 2013.
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