Abu Dhabi: The UAE is keen to deepen cooperation, coordination and knowledge exchange in support of the GCC’s economy, especially in the efforts to integrate advanced technology, innovation and 4IR technologies into its industrial sector said Dr. Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology.
Al Jaber also commended the cooperation between GCC countries as they prepared for a post-pandemic world, which ought to remain a top priority for joint Gulf action in the upcoming period.
His remarks came during the 48th meeting of the GCC Industrial Cooperation Committee in the Kingdom of Bahrain.
The delegates noted that the industrial sector will be a key focus due to its significance to economic diversification, particularly the sectors that incorporate advanced technologies such as artificial intelligence (AI) and the internet of things (IoT). The discussions also focused on the development of regulations, policies and laws, and the support for local products.
Positive signs
“There are positive signs for the growth of the GCC’s industrial sector by supporting innovation and the adoption of advanced technology applications and 4IR solutions, especially in joint industrial projects. Also, coordinated efforts in priority industrial sectors will enhance their overall performance and global competitiveness,” said Al Jaber.
The national efforts to develop the UAE’s industrial sector through the UAE Industry 4.0 program are designed to increase industrial productivity by 30 per cent and add Dh25 billion to the GDP in the next 10 years. The program is a key pillar of UAE’s national industrial strategy, Operation 300Bn, which is in line with the
“Projects of the 50” initiative that will chart the next 50 years of growth and development in the UAE. The strategy will enhance the nation’s position as an incubator of innovative ideas and future industries.
He pointed out that the Covid-19 pandemic accelerated efforts to improve collaboration across the GCC and develop future strategies. This comes in parallel with current efforts to update the GCC Unified Industrial Strategy document in a way that enhances industrial integration, accelerates the development and implementation of programs in strategic industries, and utilizes each country’s strengths.
Future opportunities
While more coordination between member states in the pursuit of common interests, especially in the areas of knowledge exchange, training, and research and development is needed, he said the available capabilities in the GCC that support increased trade exchange between member states, just as they have encouraged the private sector to increase its breadth of production, especially in light of the opportunities presented by the applications of the Fourth Industrial Revolution.
Achieving comprehensive industrial development in the GCC states is expected to reflect in enhanced production efficiencies and higher quality outputs. It will also have positive social effects, from enhancing safety and security to improving services, developing economic opportunities, and increasing the sector’s contribution to GDP, as well as promoting investment opportunities in priority industrial sectors.
