The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
ABU DHABI / Emirates Business
The UAE’s successful bid for Category B Membership under the International Maritime Organization (IMO) Council is a historic achievement and an important milestone in the country’s efforts to become one of the wo-rld’s leading maritime centers. Today, the world’s eyes are on the UAE, which has successfully outshone other major candidates to become the first Arab member to join the Category B body. It aims to further strengthen its global leadership by adding value to intern- ational shipping and trade with a focus on key pillars such as innovation and human capital to improve maritime safety policies and environmental security.
HE Dr Abdullah Belhaif Al Nuaimi, Minister of Infrastructure Development and Chairman of the Board of Directors of the Federal Authority for Land and Maritime Transport (FTA), said: “The UAE is a key player in driving offshore investment in the Middle East region, with a total growth of $170 to $190 billion between 2014 and 2017. It currently accounts for an estimated 30 to 35 percent
of total regional maritime sector
investment at $66 billion.â€