UAE and Russia to boost ties in aluminium sector
Dubai, May 15, 2008
Officials from the UAE Ministry of Economy met with representatives of Dubai Aluminium Co (Dubal) and a delegation from Russia at its Dubai offices to discuss the strengthening of the UAE’s aluminium sector and enhanced bilateral relations with Russia.
The series of meetings started off with talks between Sultan bin Saeed Al Mansouri and MoE representatives that included executive director of industry Jamal Nasser Lutah, director of the department of industrial development Saeed Abdulla Al Roken, CEO of Dubal Abdullah Jasim bin Kalban and general manager of Dubal’s corporate relations and international affairs Mr. Khalid Eisa Bu Humaid.
The parties discussed the status of UAE’s aluminium sector and highlighted the expansions and major initiatives being planned to boost the industry at the UAE and Gulf levels.
“The aluminium industry is a vital component of our country’s economic diversification initiatives and generates around 12 per cent of total global supply; several projects are in fact underway to establish the UAE as an aluminium production hub. Aluminium is a highly strategic sector since it provides various job opportunities; we are thus committed to further enhance this and other components of the industrial sector, which we believe is essential to attaining sustained economic growth,” said Al Mansouri.
Participants discussed how the aluminium sector has emerged as a major contributor to the national GDP after oil, and how the metal products industry in general has received Dh7.5 billion ($2.04 billion) in investments with around 75 companies operating within the field as of 2007.
They also talked about Dubal’s own contributions, as the company produces about 900,000 tons of aluminium annually and is expected to generate around a million tons by 2010.
Al Mansouri later received a Russian delegation led by first deputy head of the Federation Council Committee senator Oleg Shurdumov to discuss the strengthening of bilateral relations between the UAE and Russia.
The group talked about intensifying bilateral commercial, industrial, and agricultural trade, ensuring food security, improving the role of the UAE in the World Trade Organisation (WTO) with the full support of Russia, and enhancing the functions of the UAE-Russian Economic Council.
“The UAE has maintained healthy diplomatic and economic relations with Russia since 1971; the UAE in fact remains Russia’s closest trade partner in the Gulf. Our collaboration just recently entered a new phase when we jointly signed a protocol related to Russian accession to the WTO. We can expect even closer economic ties as we both seek to leverage our respective strengths to gain a firmer foothold on global trade,” added Al Mansouri. – TradeArabia News Service