UAE Ministry of Economy: "With $1.32 billion of copper cable exports and global share of 6.3%, UAE's copper exports contribute $ 1 billion to UAE trade surplus"
Dubai - Wire and Cable Arabia 2015, the region's leading industry show which concluded today supported by Ducab as Principal Sponsor, has revealed that there is a difference of just $5 million between volume of copper cable exports of USA ($1.330 billion) and the UAE ($1.325 billion), taking the UAE to fifth position globally after USA.
Key industry players from the region and the globe took part in the four-day show at the Dubai International Convention and Exhibition Centre, and acknowledged the huge investment opportunities in this sector in the UAE and the wider region, despite slowdown in other parts of the world.
UAE Ministry of Economy's latest report says that 'Copper', which is the key raw material used in cable production, is a key industrial product whose exports contribute approximately $1 billon to UAE's trade surplus.
Satish Khanna, General Manager, Al Fajer Information and Services, organisers of the show, said: "'Copper accounts for nearly 65 % of the production cost of a cable. According to a Ministry of Economy report, UAE ranks among Top 5 copper cable exporters after USA (4th), Belgium (3rd), Germany (2nd) and Russia (1st).
"We are extremely delighted to enter this field by organising this exhibition. Major players from the industry displayed latest solutions and products. We also thank Ducab for sponsoring the four-day show."
He said: "The cable industry in the UAE is competitive, mature, expenditure driven and caters to almost all sectors of the economy. It has gone through a phase of rapid growth that has encouraged new players to enter the sector. The key growth drivers of the UAE's cable industry are the booming infrastructure and utilities spending, telecom liberalization, demand for electricity, government subsidies, and export opportunities."
Many of the leading exhibitors at the show have shown interest in participating in the next edition.
Khanna elaborated: "The types of cables produced in the UAE are energy cables, instrumentation cables, power and control cables, industrial cables and communications cables. Wire and Cable Arabia 2015 was able to connect serious buyers with local manufacturers to accelerate export processes."
Jeen Joshua, Group Exhibition Manager, Al Fajer Information and Services, said: "Asia is the largest source of copper and aluminum imports, at over 40 percent, followed by the Middle East North Africa region accounting for 34%. The industry in this part of the world is getting huge attention as it forms the arteries of the real-estate and infrastructure sectors."
Joshua said Wire and Cable Arabia 2015 proved to be an ideal venue for manufacturers, traders, consumers and decision makers of the wire and cable sectors to gather under one roof.
Serving as a powerful platform to build strong business partnerships and forge strategic alliances between cable and wire producers and in-country distributors, Wire and Cable Arabia 2015 generated overwhelming response from stakeholders in the region's wire and cable industry," concluded Khanna.
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