DED supports participation of 5 Abu Dhabi companies at Hannover MesseApr 28, 2012 - 02:07 -
Hanover, 28 April 2012 (WAM) - The Department of Economic Development-Abu Dhabi (DED), through its Export Promotion division, is supporting the participation of five Abu Dhabi companies at the Hannover Messe 2012 industrial exhibition, from April 23-27, 2012 in Germany. The five companies exhibiting are Abu Dhabi Cable, Al Jaber Aluminum Extrusion, Spaceage Switchgear, Emirate Germany Pipe Co, and TMI.
During the first three days of the exhibition, the companies met nearly 400 potential customers for their products from around the world. The company representatives said that about 15% of the visitors they met could be considered as strong potential for establishing business relations and drive the sales of their products outside the UAE.
On this occasion, Hamad Abdullah Al-Mas, Executive Director of International Economic Relations, said DED is always keen to support national institutions by bridging it with the world markets to explore opportunities for expansion of its lines of production, where DED follow-up this process in order to ensure the entry of these institutions to the global markets with high efficiency and to be able to compete on the international scene.
He pointed that this support is part of DED's strategy to upgrade the level of competitiveness of the national product which would contribute to promoting the economic diversification policy pursued by the emirate Abu Dhabi in terms of transition from an economy based on oil to a sustainable economy based on knowledge and diversification within Abu Dhabi vision 2030.
The companies also identified new opportunities for growth. Al Jaber Aluminum's spokesperson said: "We found new product segments and new customers in a broader range of industries that offer higher profit margins." A representative of TMI added: "This event has allowed us to identify new potential products to offer the European, Asian, and African markets." Companies attending the exhibition with the DED are identifying new products and possible technology transfer opportunities also. One company representative said: "We met a technology/equipment supplier who will allow us to produce a component that we currently import. We will be able to supply ourselves, other UAE companies, and export markets if we purchase the technology." He added: "We found a new technology that was recently patented and have started initial discussions about acquiring rights. This will open new global markets for us in a new product segment." The opening of new channels of distribution are being identified by the exhibiting companies, which will allow the Abu Dhabi companies to expand into new markets faster. Spaceage Switchgear's spokesperson said: "We have been approached by companies for distributing our products in Asia, Europe, and North America." The companies expressed their gratitude to the DED and the Export Promotion division for the support and opportunity to participate in this year's exhibition. One representative said: "Participation in the exhibition offered us new insights on potential growth opportunities that we otherwise would not have been aware of. Earlier, we imported from Europe; through our participation and potential partnerships, we will start exporting to Europe." The Export Promotion division at DED provides a range of services to national companies such as the support for Abu Dhabi companies at trade exhibitions internationally and organize visits for business delegations to global markets, raise awareness of export-related topics through courses, seminars, and workshops in addition to access to databases that help with export development decisions, The Division publish studies regarding export opportunities in global markets with advising firms regarding export capability and provide advice to local businesses on export market entry strategies and reduce identified obstacles to export development by working with other government agencies and entities.