Sheikh Saud opens seminar on 'National Industries under Challenges of Globalisation'

Delivering his inaugural address, Sheikh Saud said that development of the industrial sector was vital for the development of the nation as a whole. "UAE industrial sector has already made its mark in the international scene and is poised to grow further due to the favourable business climate prevailing in the country and taking advantage of UAE's ability to attract talent from across the globe," he said.

Sheikh Saud noted that the globalised world of today makes it imperative that national industries sharpen their competitive edge to meet the challenges posed by forces of globalisation.

"In today's world, industries need to tap the global markets and adopt an export- led growth strategy for achieving success. This calls for increased focus on enhancing productivity and product quality, having the right pricing and offering exceptional service to the customers," he added.

Dr. Khater Massaad, Advisor to the RAK Crown Prince and CEO of RAK Ceramics, said that UAE leadership has been successful in realizing the fact that industrial growth was the cornerstone of national development and critical for achieving economic diversification.

He said that UAE industrial sector has made rapid progress with the total number of industrial establishments growing by over 42 percent to touch 3567 between the period 2002- 2006.

Dr. Massaad called for setting up of research institutions to help national industries keep pace with global technological developments.

"We should also have more access to funding institutions to secure loans at competitive rates and should make increased investments in human resources to make the national industries competitive globally," he added.

Dr. Massaad said that there should be increased cooperation and partnerships between Gulf and Arab economies and added that the recent initiative towards closer integration of GCC economies at the recent GCC summit was a welcome development.

Yousuf Obaid Al Nuaimi, Chairman of the Board of RAK CCI, said that the seminar was aimed at making the local industries better prepared to deal with the challenges posed by globalisation. He noted that the industrial sector of Ras Al Khaimah has benefited a lot from the vision and foresight of H.H. Sheikh Saud bin Saqr Al Qasimi, who has been instrumental in turning the emirate into a major industrial hub in the country.

Saeed Suwaid Al Nasaibi, Director of Policies and Procedures at Dubai Customs Department, presented a paper on `Impact of WTO agreements on national industry' and Dr. Najeeb Al Shamsi, Director for Trade and Industry at the GCC Secretariat, made a presentation on `GCC efforts in encouraging national industries'. Abdul Razzaq Yousef, CEO of Gulf Pharmaceuticals (Julphar) and Dr. Saif Al Ghais also made presentations at the seminar.

Sheikh Dr. Sultan bin Kayed Al Qasimi, Chairman of the Board of Ittihad University, Sheikh Mohammed bin Kayed Al Qasimi, Vice Chairman of RAK Economic Development Department, Sheikh Salem bin Sultan Al Qasimi, Chairman of RAK Civil Aviation, and heads of local departments attended the function. As many as 200 delegates, representing various industrial and commercial establishments in Ras Al Khaimah, attended the conference.