Dr Al-Sada: GCC Countries Have Succeeded in Maintaining Their Export Growth [Qatar News Agency]
(Qatar News Agency Via Acquire Media NewsEdge) Muscat, March 30 (QNA) - HE Minister of Energy and Industry Dr. Mohammed bin Saleh Al-Sada confirmed that the member states of the Gulf Cooperation Council (GCC) have succeeded in continuing their efforts for industrial verifications and in maintaining export growth despite the global economic crisis. HE the Minister cited the statistics issued recently by the Gulf Organization for Industrial Consulting (GOIC), showing an increase in industrial exports from $160 billion in 2008 to about $257 billion in 2012, for an annual growth of about 13%. "It is a great and interesting to note that the annual growth of total Gulf exports increased by 10% during the same period," HE Dr. Al-Sada added.
His Excellency's statements came during the sessions of the 14th GCC Industrialists Conference, which is currently being held in Muscat, Oman.
HE Dr. Al-Sada stressed that the "challenges facing the industrial sector in the Arabian Gulf prompt us to make continuous reviews and updates of the laws and legislations, which would pave the way to further raise export levels and open up access to world markets." HE Dr. Al- Sada has called for creating fertile grounds to face these challenges by providing incubators for new industries, encouraging leadership in industrial operations, optimizing the use of new technologies, improving marketing tools and mechanisms, networking with importers around the world, and by facilitating access to financial and credit facilities.
In addition, HE Dr. Al-Sada called for creating and stimulating the proper environment for industrial growth in new fields to develop the export potential and competitiveness of GCC products, to encourage investments in export industries, to promote the development of products with high added value, and to accelerate knowledge transfer in industries.
The session was attended by industry ministers from GCC countries and Yemen, by the GCC Secretary General, as well as by top executives and experts in the industrial sectors in GCC countries, international organizations, development and export promotion organizations, chambers of commerce and industries, industrial companies and establishments, funding agencies, and private sector organizations.
The participants reviewed the joint GCC action in the industrial field and a number of issues pertinent to the industrial sector in GCC countries, the recommendations related to the export industries in the concerned countries, legalizations and their impacts on industrial exports, and investment policies. (QNA)
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