Offset Program Bureau delegates attend International Offset Conference

This year's international conference was held in conjunction with the Canadian Association of Defense and Security Industries. The delegates' presence at the conference sent a strong message demonstrating the OPB's commitment to continued close association with the international offset community. This is in keeping with the OPB's strategy to intensify its presence at international events, strengthening its position within the international offset industry.

The delegation was led by Khaleefa Mohamed Al Hemairi, Senior Project Manager at OPB. According to Al Hemairi, "Hamad Mohamed Al Marar, Ali Mohamed Buhaji, and I took the opportunity to become familiar with the most recent worldwide developments in offset. We also had the chance to discuss the many successful offset initiatives created by the OPB. In fact, one of the conference speakers specifically noted how successful the UAE offset program is and described it as one of the most unique programs in the world."

Saif Mohamed Al Hajeri, Director of the Offset Ventures Unit at the OPB, commented, "Such successful networking opportunities serve to support and enhance the international perception of the United Arab Emirates and of the Offset Program Bureau. It is this person-to-person contact which often produces the knowledge and fresh ideas most readily applied to our future ventures."

"We are pleased with the OPB's representation at the joint CADSI and GOCA conference and intend to ensure the continuing presence of the Offset Program Bureau at international events," stated Mohamed Saif Al Mazrouei, Chief Executive Officer of the OPB.

The Offset Program Bureau was established in 1992 to oversee the offset program in the UAE. It is mandated to set up joint ventures, as well as to invest in commercial, industrial, financial, and educational projects and to create investment funds in the UAE and abroad.

The offset program is implemented on all defense contracts and procurement orders worth more than AED 36.73 million - or $10 million - signed or issued by the General Headquarters of the UAE Armed Forces within a period of five years. The five-year maturity is calculated from the date of the first contract or order the defense contractor/supplier/agent signs with the GHQ.