UAE to play active part in mapping of global maritime's future

Business

UAE to play active part in mapping of global maritime's future

The United Arab Emirates (UAE) has with success managed to take care of number one position within the world's thriving maritime segment. Over the years, the country has been able to leverage its key strengths and capabilities to earn its place collective of the most effective countries in the world. In line with this, the UAE has discovered completion of its preparations for re-nomination as a Class B member of the International Maritime Organization (IMO) Council for the 2020-2021 term. Elections for membership are going to be held on November 29, 2019 in London.

The UAE, which operates 20 leading ports that also are a part of the world's prime 10 ports, also leads in terms of getting the best range of container ship fleets--delivering minimum of 15 million containers every year. It is also ranked fifth globally for the amount of international shipments passing through its ports. It's progressive infrastructure and ports have helped attain the eleventh place at the Logistics Performance Index of 2018, in terms of the quality of infrastructure supporting logistic activities. The UAE additioanlly gained the fifth ranking in international shipments.

The UAE hosts a mess of international maritime events like UAE Maritime Week, Dubai Maritime Summit and Abu Dhabi Summit of Global Marine and Maritime Leaders.

It has world-class best ports like Khalifa Port in Abu Dhabi an added advantage has been it located in UAEs capital, which is strategically located to serve over 4.5 billion customers in four time zones and ideal to support the UAE`s move to be a major contributor to the Belt and Road Initiative (BRI); Jebel Ali Port, which is the world's ninth-largest container port in Dubai, and Fujairah Port.

Dubai Ports operate 78 inland and marine terminals in 46 countries. Its current capability of 79.6 TEUS is predicted to extend to over 100 million containers by 2020 to support increasing global demand. Hosting Expo 2020 in Dubai will have a positive impact in Considerably boosting the country's maritime activities as it is expected to welcome around 25 million visitors, with over 200 countries participating. In line with this, the UAE has also expressed its keenness in being able to review and tackle important maritime topics through this hosting.

H.E. Dr. Abdullah Belhaif Al Nuaimi, Ministry of Infrastructure Development Chairman of the Federal Transport Authority Land & Maritime, explained that the UAE is largely investing in developing its maritime sector, This has earned the country a leading position in the international maritime arena and has become one of the major players in the global maritime sector.

He highlighted that the UAE holds several qualifications within the maritime sector, together with ports; operation, maintenance, and building of ships; dry docks; finance and insurance, confirming its eligibility once again secure Category B membership within the IMO Council.

Al Nuaimi said: The UAE considers the maritime sector collectively of the necessary contributors to its economic diversification method. To encourage investment, we remain committed in issuing maritime laws and legislations providing incentives to those keen to explore business in the sector. The country has approved a new law allowing for 100 per cent foreign ownership of maritime companies. We look forward to winning a seat in the IMO Council as we are set to continue our role in strengthening the international maritime sector and drive the growth of global maritime trade. We are confident that winning membership will open new horizons and help sustain the development of the international maritime system.