Tawazun Economic Council kicks off the Abu Dhabi International Offset Conference 2013
- United Arab Emirates: Wednesday, February 13 - 2013 at 15:14
- PRESS RELEASE
Held under the patronage of His Highness General Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, the Abu Dhabi International Offset Conference (ADIOC) began.
The opening ceremony included speeches and presentations by: H.E. Dr. Mugheer Al Khaili, member of the Executive Council and Director General of the Abu Dhabi Education Council; H.E. Saif Al Hajeri, CEO of Tawazun; Major General Dr. Khalifa Mohammed Al Romaithi, Chief of Logistics at the UAE Armed Forces; Staff Col. Eng. Yahya Shaheen Al Hammadi, Joint Logistics Transformation Director at the UAE Armed Forces and; Matar Al Romaithi, Chief Executive the Industrial Development Unit at the Tawazun Economic Council.
The theme of the biennial event this year is 'Shaping the future of industrial cooperation in a changing world'. It has brought together representatives of global defense contractors, governments and industry experts from over 25 countries who are in Abu Dhabi to discuss the latest trends in the offset and counter-trade industry, share their partnership experiences and discuss the growing role of offset in a rapidly developing economy.
The event also represents an opportunity to exchange expert views and to share best practice in offset core principles such as economic diversification, foreign direct investments, technology transfer, fair trade, and joint cooperation between countries.
H.E. Saif Mohamed Al Hajeri, CEO of Tawazun said: "ADIOC is a meeting place of leading minds in the global offset industry. For the UAE, it is where we both form new industry relationships and strengthen our current partnerships with the aim of advancing economic diversification in the UAE. ADIOC is also a critical engagement platform for the Tawazun Economic Council in listening to and learning from these partners as part of the ongoing evolution of the Tawazun Economic Program, which ultimately helps support the growing home-grown industrial capability of the UAE."
Matar Al Romaithi, Chief Executive of the Industrial Development Unit at the Tawazun Economic Council added: "Some of our priorities for 2013-2014 include further creating new projects, connecting the private sector with foreign defense contractors, promoting the investment opportunities available to the local sector and continuing to build the nation's human capabilities. We believe that ADIOC is the ideal forum for us to network with our peers and work collaboratively to build on our vision which is in line with that of our government."
Tawazun Economic Council (previously known as UAE Offset Program Bureau) was established in 1992 to oversee implementation of the Tawazun Economic Program (formerly known as the 'UAE Offset Program'). With a mandate to facilitate joint ventures between local and international firms, the Tawazun Economic Program also invests in sustainable economic and social ventures in the country which are aligned to national imperatives and the country's strategic economic master plan. Since its creation, it has helped attract direct foreign investment in the UAE, creating more than 40 joint venture organizations.
ADIOC is sponsored by Mubadala Aerospace, Emirates Advanced Investment, Saab, Boeing, Lockheed Martin, BAE Systems, Nexter Systems, AMMROC, Thales, and Fincantieri. It is supported by the Global Offset and Countertrade Association, ADS and the Defense Services Marketing Council.
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