UAE Ministry of Economy hosts talks on enhanced aluminium production, closer UAE-Russia bilateral relations

The series of meetings started off with talks between H.E. Eng. Sultan Bin Saeed Al Mansouri and MoE representatives that included H.E. Jamal Nasser Lutah, Executive Director of Industry, Mr. Saeed Abdulla Al Roken, Director of the Department of Industrial Development; and; Mr. Abdullah Jasim bin Kalban, CEO of Dubal; and Mr. Khalid Eisa Bu Humaid, General Manager of Dubal's Corporate Relations and International Affairs; during which time the parties discussed the status of the 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 percent 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 H.E. 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 Dhs7.5bn 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.

Afterwards, H.E. Al Mansouri received a Russian delegation led by Senator Oleg Shurdumov, First Deputy Head of the Federation Council Committee, 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.

H.E. Al Mansouri spoke about finding solutions to rising inflation and the scarcity and rising prices of basic food commodities; he also commented on exploring the strengths and weaknesses of the construction materials sectors of both countries.

"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," concluded Al Mansouri.

Other members of the Russian delegation included Senator Magomed Magomedov, Member of the Federation Council Committee for Industrial Policy; Senator Boris Tretyak, Deputy Head of the Federation Council Committee for Commonwealth of Independent States Affairs; Senator Aslan Khashir, Member of the Federation Council Committee; Mrs. Larisa Chukhina, Head of the Office of the Federation Council Committee for Industrial Policy; and Mr. Kirill Mangush, Counsellor of the Department of International Relations of the Federation Council Committee.