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Abu Dhabi hosts World Ports and Trade Summit |
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International expert speakers including those from across the Middle East are set to descend on Abu Dhabi on 28-30 March this year to attend the three-day World Ports and Trade Summit, to deliver an unprecedented information exchange on the future of ports and shipping. Held under the patronage of His Highness General Sheikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Summit will bring together internationally recognised economists, port authorities, terminal operators, shipping companies, global cargo owners and investors to present some of the most ambitious projects ever attempted. VIP guests who will address delegates during the opening ceremony include Sheikha Lubna Al Qasimi, UAE Minister of Foreign Trade, Efthimios E. Mitropoulos, Secretary-General, International Maritime Organization and Sheikh Sabah Jaber Al Ali Al Sabah, General Manager, Kuwait Ports Authority. Commenting on her participation, Sheikha Lubna said, "Strong business opportunities exist in the region today as the development of ports and trade initiatives consistently bolster economic growth. We are committed to strengthen business and trade partnerships with the rest of the world." Trade is already playing an integral role in helping the UAE diversify its economy away from its dependence on revenue from exporting hydrocarbons. Indeed the latest figures for the third quarter 2010 make impressive reading. The UAE non-oil foreign trade achieved positive growth rates during the first nine months of 2010 and the total volume of the UAE non-oil foreign trade maintained its growth compared to the same period last year. According to Federal Customs Authority (FCA) statements, the UAE’s estimated total non-oil foreign trade from January to September 2010 increased about 11%. The total volume of UAE non-oil foreign trade jumped AED54 billion to over AED540 billion compared with the same period in 2009. A highlight of the preliminary statistical data reflected a 5% growth in imports during the first nine months of 2010 to over AED350 billion compared to AED334 billion in September 2009. Exports leapt 39% to nearly AED62 billion compared with AED44 billion during the same period in 2009 and similarly re-exports increased by 19% from AED108 billion to AED128 billion. To support the UAE’s vision of a truly diversified economy, a number of key projects with a development cost of over AED46 billion have been planned including the ambitious Khalifa Industrial Zone Abu Dhabi (Kizad) which was launched towards the end of last year. Located between Abu Dhabi and Dubai at Taweelah, the first phase of Khalifa Port will have an initial capacity of 2 million TEUs (twenty-foot equivalent unit, a measure used for capacity in container transportation) and 12 million tons of general cargo, both scheduled for completion in Q4 2012. "Kizad is expected to contribute up to 15% of Abu Dhabi’s GDP by 2030 and as such is set to become a major business hub for the Middle East. We look forward to sharing our plans and development strategies with industry peers at the World Ports and Trade Summit," said Tony Douglas, CEO, ADPC (Abu Dhabi Ports Company). The summit is split into six different sessions covering the world economy, trade and ports; Future challenges and opportunities for the Middle East; Drivers of freight markets; Cargo handling and terminal operations; Port operations and regulations for development; Energy transportation and bulk cargoes. Tim Sebastian, Chairman of the Doha Debates and former presenter of BBC’s HARDtalk will moderate the panel discussions. Other highlights include dedicated training workshops, an international exhibition which runs alongside the conference and a hosted tour of the Khalifa Port’s facilities and Kizad. The World Ports and Trade Summit was launched last year by ADPC and is jointly organised by Turret Media and Seatrade, with the full support of Abu Dhabi Terminals, Abu Dhabi Chamber of Commerce and Industry and Arab Sea Ports Federation. The event is sponsored by Bechtel, Boskalis Westminster Middle East and DNV.
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