(MENAFN - The Peninsula) The Minister of Energy and Industry, H E Dr Mohammed bin Saleh Al Sada, confirmed that the member states of the Gulf Cooperation Council (GCC) have succeeded in continuing their efforts for industrial verifications and in maintaining export growth despite the global economic crisis.
The Minister cited the statistics issued recently by the Gulf Organisation for Industrial Consulting, showing an increase in industrial exports from 160bn in 2008 to about 257bn in 2012, for an annual growth of about 13 percent. "It is a great and interesting to note that the annual growth of total Gulf exports increased by 10 percent during the same period," Dr Al Sada said
His statements came during the sessions of the 14th GCC Industrialists Conference, which is currently being held in Muscat
Al Sada stressed that the "challenges facing the industrial sector in the Arabian Gulf prompt us to make continuous reviews and updates of the laws and legislations, which would pave the way to further raise export levels and open up access to world markets.
Al Sada has called for creating fertile grounds to face these challenges by providing incubators for new industries, encouraging leadership in industrial operations, optimising the use of new technologies, improving marketing tools and mechanisms, networking with importers around the world, and by facilitating access to financial and credit facilities
In addition, Al Sada called for creating and stimulating the proper environment for industrial growth in new fields to develop the export potential and competitiveness of GCC products, to encourage investments in export industries, to promote the development of products with high added value, and to accelerate knowledge transfer in industries
The session was attended by industry ministers from GCC countries and Yemen, GCC Secretary General, as well as top executives and experts in the industrial