Dubai plastic, rubber trade robust; imports at $3.7b
Dubai imported $3.66 billion and exported $1.33 billion of plastics and rubbers in 2015.
Dubai - UAE is succeeding in diversifying economy by investing heavily in industrial sector
Dubai imported $3.66 billion and exported $1.33 billion of plastics and rubbers in 2015, while also re-exporting $1.01 billion, according to latest Dubai Statistics Centre figures.
These trade figures were revealed during a Press briefing held on Wednesday by the German trade fair organiser Messe Dusseldorf while announcing the GCC's response to K 2016, the largest international trade fair for the plastics and rubber industry, taking place from October 19-26 in Dusseldorf, Germany.
The German company said that the UAE is succeeding in diversifying its economy by investing heavily in the industrial sector including the plastics industry as it is taking early steps in its bid to say farewell to the last drop of oil.
The company said the UAE plastics industry growth is fuelled by industrial diversifying initiatives spearheaded by the UAE government.
"K 2016 has been fully-booked for months. More than 3,000 exhibitors from more than 50 nations will take part. As usual, the largest group of exhibitors comes from Europe, particularly from Germany, Italy, Austria, Switzerland, France and Turkey. At the same time, the K trade fair is a clear indicator of changes in the global market," said Erhard Wienkamp, division director, Messe Düsseldorf GmbH.
"Over the past few years, the number of Asian companies and the exhibition area that they booked has been rising steadily. This year, particularly China, India, Japan, South Korea and Taiwan will be impressing visitors with their strong presence."
"The presence of the exhibitors from the UAE is comparable to K 2013: four companies will be present," Wienkamp pointed out.
As a key player in the plastics and rubber industry in the Gulf region, Dubai is an essential stop for K Show organisers to announce the trade fair and discuss potential opportunities.
"The Gulf region is also reducing its dependence on imports to plastics by enhancing local manufacturing, and is heading towards the direction of self-sufficiency in the near future," added Satish Khanna, General Manager of Al Fajer Information & Services, the regional partner of Messe Dusseldorf.