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350 firms for Arabplast
DUBAI The Arab International Plastic and Rubber Industry Trade Exhibition (Arabplast) and the International Technological Exhibition and Conference for Industrial Machinery (Tekno-7), to be held at the Dubai World Trade Centre from March 30 to April 2, will host over 350 companies this year, recording a 20 per cent increase over the number of companies that participated in the previous editions.
The organisers said that the government and private sector focus on industry in the Gulf region over the past few years has encouraged the use of high tech machines and more mechanised operations. Increased investment in manufacturing sectors has provided a boost to small and medium size industries in the Gulf, a market estimated at over $22 billion per annum. Plastic and fiberglass, two of the most versatile and durable materials, continue to figure prominently in the UAE's increasingly industrial economy. As demand remains significant, the manufacture of these materials is on an upward trend. The Middle East plastic and rubber industry is projected to record an annual growth of 30 per cent over the next five years, while with impressive growth rates of 15-20 per cent per annum, the manufacturing sector is increasingly becoming a major contributor to local growth and industrialisation drives.
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