The UAE is an open economy with a high per capita income and a substantial annual trade surplus. Successful economic diversification has made UAE more attractive for global investors in comparison to other nations in the gulf region. Economic diversification has reduced the contribution of oil and gas sector in GDP to 30%. Strategic location, strong financial reserves, large sovereign wealth fund, promising investor home economies, consistent government spending, progressive policy of economic diversification, free zones and increased foreign direct investment has made UAE the 14th richest economy of the world in terms of Purchasing Power Parity (PPP). As per the World Bank Group, UAE ranks 21 in ease of Doing Business among all nations of the world. The incumbent government has launched 'Vision 2021' with the aim to make the UAE among the best countries in the world by its Golden Jubilee year. In order to translate the Vision into reality, its pillars have been mapped into six national priorities which represent the key focus sectors of government action in the coming years.
Electric machinery is a prominent product in India-UAE engineering trade basket. Total trade of Electrical machinery was around US$ 300 million in 2017 where India's exports count for around 75%. Total merchandise trade between India and the UAE is expected to reach US$ 100 billion by 2020. UAE has been a prominent market for India as evident from the trade data. Indian exporters therefore, will be on an advantageous position in UAE as Indian engineering as well as electrical products are already recognized in the UAE. This will help India to find a good chunk of global buyers for their products in the exhibition.
The GCC power sector will require about US$ 50 billion of investment in new power generating capacity. The GCC alone will add 76.8 gigawatts (GW) of capacity for power generation between 2016 and 2020 (pan-Arab energy investment bank Apicorp estimates). According to the International Renewable Energy Agency (IRENA), GCC electricity consumption is expected to reach 856 terawatt-hours by 2020, requiring 100 GW of additional power over the next 10 years to meet the demand. Strong economic and demographic growth, driven in part by the GCC economies’ highly energy-intensive industrialization programmes, has led to a dramatic surge in power consumption. As the demand increases, the GCC countries are also experiencing significant requirements for power sector infrastructure development. The GCC countries have collaborated in developing a joint Gulf power grid, to develop the region's electricity network and also help unify the six countries.
Middle East Electricity (MEE) is the largest trade exhibition on Power in the Middle-East North Africa (MENA) region and experiences largest gathering of professionals like manufacturers, traders and buyers of the products of this sector every year. The 44th edition of this show will cover segments like power generation, transmission & distribution, lighting, solar and Energy storage and management solution, introduced last year. This gala event offers the participating exhibitors access to thousands of potential customers from across the world. MEE 2019 will be accompanied by knowledge programmes offering a diverse range of professional education and training opportunities through a series of technical seminars and workshops providing the latest updates and insights into cutting edge technology and innovations in the broader electricity sector. The event attracted close to 1500 exhibitors from 66 countries and around 20,000 visitors from 130 countries in the last edition.
India at Middle East Electricity 2019: With a total participation of around 55 companies from EEPC India and Indian Chamber of Commerce, the India Pavilion is located in Za’abeel Hall 3. As part of the Brand India Engineering campaign, the India Brand Equity Foundation (IBEF) has designed a impactful branding plan encompassing mediums like venue, digital and print advertising.