Tawazun Economic Council’s Abu Dhabi International Offset Conference concludes

ABU DHABI, 19th February, 2015 (WAM) — The Abu Dhabi International Offset Conference (ADIOC)oncluded today on a hopeful note at the Ritz-Carlton Abu Dhabi, Grand Canal, under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.

The ADIOC, which organised the event in collaboration with the Global Offset and Countertrade Association (GOCA), and the UK Aerospace, Defence and Security Industries, commended the positive results achieved by the Conference at its fifth edition.

The government figures from the global defence manufacturing sector, delegations representing more than 25 countries from the Middle East, Asia, Europe and the United States, agreed that the conference would contribute to strengthening the strategic partnership between the public and private sectors in the defence and civilian manufacturing domains alike.

Luc Vigneron, CEO of Emirates Defence Industries Company (EDIC), in his speech at the closing session, referred to developments in the defence manufacturing sector in the UAE in the light of new partnership, and added that the EDIC “is the first platform of its kind in terms of integrated military services and national manufacturing services crafted in accordance with world-class standards.” He pointed out that the company combines various capacities and competencies in the military-industrial sector in the UAE within the framework of a unified and integrated platform with the aim to improve value for customers, shareholders, partners and other stakeholders. Vigneron said that with the completion of merger phases, the EDIC will include assets in various manufacturing and training, maps and maintenance, logistics and technical development and communications sectors, as well as maintenance, repair and operation of air, land and maritime service platforms.

The Mubadala Development Company ‘Mubadala’ and Tawazun Holding Company had announced last December the launch of Emirates Military Industries Company (EDIC) in a move that aims to establish an integrated and unified national platform for services and military industries.

On his part, Matar Ali Al Romaithi, Chief Officer of the Industrial Development Unit at the Tawazun Economic Council, said in a statement marking the conclusion of ADIOC that “the resolutions of conference are very positive, and we are optimistic about the future of cooperation between the UAE and industrial countries to set up integrated projects to create more job opportunities and contribute towards diversification of income sources.” He pointed out that the conference reviewed the models of success stories of the Tawazun Economic programme in the UAE that blend between the Offset programmes with the Armed Forces needs.

Al Romaithi said the conference highlighted the important strategic issues such as the establishment of new investment projects and a link between the international foreign defence companies and the private sector as well as promotion of investment in available domestic sector opportunities, and continuing to build national capacity. He described the conference as “one of the most important specialised world forums to achieve the vision of Tawazun Economic Council in line with the wise vision of the UAE leadership.

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SOURCE: Wam