Khalifa to participate in Riyadh Opec meet

ABU DHABI — The Centre for Information Affairs under Deputy Prime Minister Shaikh Sultan bin Zayed Al Nahyan’s office has come out with a book titled “The UAE and OPEC” on the occasion of President His Highness Shaikh Khalifa bin Zayed Al Nahyan’s participation in the third summit of the Organisation of Petroleum Exporting Countries (Opec) to be held in the Saudi capital of Riyadh on November 17-18.

By Hassan Riffat (Abu Dhabi Bureau Chief)

Published: Sat 17 Nov 2007, 8:51 AM

Last updated: Sun 5 Apr 2015, 4:38 AM

At the outset, the book examines Shaikh Khalifa’s strategy, quoting him: “The UAE, as a distinguished model for all petroleum exporting countries, has always been keen on Opec’s stability and steadiness. Such unwavering policy is for the good of the country, all exporting countries, and world economy.

“The national petroleum policy we have adopted is aimed at preserving national interests by best utilising this precious wealth and enhancing capabilities.”

“Under the the policy, be it for production or exports, this national wealth would be preserved and invested in under a thoroughly studied plan that gives priority to the real needs of economic and social development.

“The UAE will keep developing petroleum industry, particularly gas and petrochemical sectors, to best utilise the wealth,” Shaikh Khalifa said.

The UAE’s relationship with Opec had been detailed in several chapters of the book.

The UAE political leadership, despite being interested in utilising the petroleum wealth in building and developing the country, has linked this vital wealth with local and international issues. The country has always supported justice and rights.

This has never been a temporary policy but has always been part of the foreign policy and international relationship.

The UAE has been actively present in all Opec conferences. It had fully adhered to the reductions approved by Opec in the past in line with its policy, supportive to the unity and stability of the organisation.

The UAE has also played an important part in technical and technological cooperation with Arab countries in all petroleum industries.

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