(MENAFN - Editorial) Abu Dhabi, UAE – 6 July 2019: A delegation from the Ministry of Economy, led by H.E. Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs, visited the Innovation Centre of Borouge in Abu Dhabi, The venture promotes a culture of innovation and entrepreneurship in the UAE and contributes to enhancing the competitiveness of national exports by opening up new markets for the UAE products and industries and promoting their interests, both regionally and globally.
The ministerial delegation included H.E. Abdullah Sultan AlfanAlshamsi, Assistant Undersecretary at the Ministry of Economy, Assistant Undersecretary for Trade Remedies Sector; H.E. Juma Mohammed Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign Trade Affairs; DrAdeebAlafeefi, Director of the National Programme for SMEs and Projects; Khalfan Al Suwaidi, Director of the International Patent Registration Centre at the Ministry; Mohammed Nasser Hamdan Al Zaabi, Director of the Trade Promotion Department at the Ministry of Economy; and Sultan Ahmed Darwish, Director of Trade Negotiations & WTO Department. Ahmed Omar Abdulla, CEO of Borouge and a number of other senior management representatives were present to welcome the delegation.
The Ministry’s delegation was introduced to the latest practices and technologies used at the Borouge Innovation Centre to produce innovative and value creating solutions of polymers and plastic elastomers that serve a wide range of industries including medical, machinery, automotive, electrical and mechanical supplies and other sectors according to the best advanced industrial technology standards.
The Ministry’s delegation was also introduced to Borouge’s global supply chain network and its warehouses and logistics hubs in the China, India, Southeast Asia and Europe. The company is also committed to protecting the intellectual property and proudly having the first UAE national who is pursuing her higher education in the field of intellectual property.
H.E. Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade Affairs, underscored the importance of the technology and innovation industry in keeping pace with the new economy standards, increasing the competitiveness of the country's products and exports in international markets and in facilitating their access to new and promising global markets in different countries.He pointed out that Borouge is a pioneering model that harnesses the use of advanced technological developments, innovation and R&D to provide high quality products and innovative solutions in the plastic elastomers industry according to the best international standards.
H.E emphasized the importance of partnerships between the government and private sectors in supporting the economic development of the UAE. He pointed out that the cooperation and coordination between the Ministry of Economy and Borouge is of great significance as it contributes to the export efforts of the company and its ability to build fruitful and sustainable foreign trade partnerships that support the UAE’s trade exchanges. It also facilitates the access of national products to foreign markets and protects them from practices that pose challenges to international trade. Furthermore, it promotes cooperation in the fields of innovation, intellectual property and national entrepreneurship.
Borouge’s CEO pointed out the significance of the visit in strengthening collaboration and coordination between the Ministry and Borouge. He added that the company focuses on joint efforts to protect and develop national industries in line with the country’s economic vision. These efforts also support Borouge's development and its leading role in the continuous growth of the petrochemical industry in the UAE and the world.
He further underlined the Ministry’s interest in the Borouge Innovation Centre and its key role in enhancing useful innovations in the field of polymers production and manufacturing, in addition to the interest in the Intellectual Property Registration (IPR) at the Borouge Innovation Centre which enabled Borouge to register more than 600 patents. The CEO also appreciated the Ministry’s interest in innovation and its role in the economic and civilization development through exploring new opportunities to achieve Abu Dhabi’s 2030 Vision that is in line with the UAE’s strategy in innovation and industry of 2021 and 2071 and the ambitions of our leadership.
Both parties discussed ways of cooperation between the Ministry of Economy and Borouge in a number of economic and trade fields. H.E. Abdullah Sultan AlfanAlshamsi, delivered a presentation on the procedures of commercial remedies in the Ministry of Economy that include Certificates of Origin, practices that harm international trade such as dumping, supporting and increased imports. He also highlighted the importance of collaborating with Borouge in this regard to facilitate the issuance of the Preferential Certificates of Origin. The opening of new channels of communication will enhance collaboration and coordination in jointly addressing the detrimental practices in international trade, he added.
DrAdeebAlafeefi, Director of the National Programme for SMEs and Projects at the Ministry of Economy, talked about the role of the National Programme in supporting SMEs and the services provided. He said there exist various opportunities for collaboration between the Ministry and Borouge in terms of procurement contracts, cooperation in technology, innovation, training and consultation for SMEs who are members of the National Programme.
KhalfanAlsuwaidi, Director of the Patents Issuance and Protection, spoke about intellectual properties, patents and the services provided by the Ministry to encourage innovation and inventors as per the practices and technologies followed. Sultan Ahmed Darwish, Director of Trade Negotiations & WTO Department, elaborated on Free Trade Agreements in the UAE in the framework of the GCC with various countries around the world. These agreements facilitate access to foreign markets and enhance the competitiveness of UAE products and products in these markets. He also reviewed the most prominent statistics on the UAE’s trade of various polymer products.
Abdulrahman Al Ateek, Senior Vice President for Corporate Affairs at Borouge highlighted the importance of the innovative plastic solutions manufactured by Borouge and its ability to add value to businesses as well as to society. He emphasized that Borouge is very keen to ensure that the value chain of its plastics solutions do not end with final consumer products. The company contributes to enhancing the recyclability of plastics by advocating the plastics circular economy that promotes recycling of used plastic. The collaboration between the Ministry and Borouge has boosted our global trade through successful leveraging of trade promotion platforms and trade enablement mechanisms, he said.
Borouge’s CEO stated that the wheel of growth never stops. Since its inception in 1998, Borouge kept growing thanks to the unlimited support it receives from is shareholders ADNOC and Borealis and its ongoing effort to enhance innovation and growth. From 450,000 tons in 2001, Borouge has increased its production by 10 times over the past 20 years and plans to double its current production by 2030 to address the growing need to support the civilized development of countries in world markets.