DUBAI: The Dubai Marine Insurance Conference, the region’s unique event on the regional and global marine insurance sector has inaugurated today (Tuesday the 20th Nov) with a focus on the sector’s future growth prospects, challenges and impact on marine trade activities around the world, and its implications Economic at home and abroad.
The first day of the 2 days “Dubai Marine Insurance Conference “ taking place onboard of Queen Elizabeth II ship at Port Rashid in Dubai brings together leading experts in marine insurance, shipping and maritime trade sectors to showcase the most pressing issues facing the sector and reflect the geopolitical developments in the region. Trade and shipping from and to the region.
The conference, which is being led by Khamis Buamim, CEO of Gulf Navigation Holding, and organized by Maritime Sky, one of Anchor Marine’s leading providers of shipping services, will focus on two days to discuss factors affecting maritime trade security, Marine and equipment, cargo shipping and risk management insurance, and marine electronic risk management and insurance.
The value of the UAE’s investments in the ports and marine industries sector exceeded $ 66 billion (about 242 billion dirhams) between 2014 and 2017, representing about 35 per cent of the total investment in the Middle East sector, amounting to $ 190 billion (697 billion dirhams), while state ports and airports handled goods worth 628 billion dollars ($ 3.2 trillion) in 2017, of which 360 billion dollars (1.32 trillion dirhams) share of ports, according to data from the World Trade Organization.
Speaking at the conference are Captain Abdullah Darwish Al Hayas, General Manager of Maritime Transport Affairs at the Federal Authority for Land and Maritime Transport, Khaled Miftah, Business Development Manager, Dubai Maritime Authority, Oscar Lavender, Rolls Royce Marine Vice President, Walid Al Tamimi, General Manager, Executive Assistant to the Vice President of the Emirates Maritime Arbitration Center, and representatives of the companies operating in the insurance and maritime transport sector from the countries of the region and the world.
Commenting on the launch of the Dubai Marine Insurance Conference, Khamis Buamim, CEO of Gulf Navigation Holding and Chairman of Dubai Marine Insurance Conference, said: “The UAE has many advanced ports that meet the highest international standards and provides customers with integrated and competitive services. The UAE plays an active role in stimulating foreign investments in the Middle East, which total between $ 170 billion and $ 190 billion between 2014 and 2017, and today contributes between 30 and 35 per cent of the region’s total investment in this sector “He said.
“The Dubai Marine Insurance Conference, currently hosted by Dubai, is an ideal opportunity for industry leaders from leading marine insurance experts, marine safety and security experts, port authorities, shipowners, ship shippers, ship manufacturers, exporters, importers and agency owners. The sector, especially the marine insurance sector, plays a crucial role in protecting global trade, especially with the transfer of up to 90% of the world’s trade. Lost between nations across the sea “.
“The UAE is one of the top 20 countries in the world of container handling thanks to its pioneering achievements and strategic location in the heart of the Arabian Gulf, which contributed to the UAE obtaining the largest share,” said CEO of Gulf Navigation Holding. Of the total volume of goods transported through ports in the region by 60%.
The UAE is ranked 15th among the world’s largest exporters, ranking higher than some of the more developed economies and surpassing four of the five BRICs (Brazil, Russia, India, China and South Africa). The UAE is ranked 18th among the world’s largest commodity importers, with imports reaching AED 984 billion in 2017.
Khamis Jumaa Buamim added: “The Dubai Marine Insurance Conference is being organized at a time when the global trade movement is witnessing many developments and changes, all of which intersect with the global maritime insurance activity, which generates an annual income of AED 55 billion annually. Plays a crucial role in extending its protection of $ 17.57 trillion in imports and $ 17.19 trillion in global exports annually, which contribute to the recycling of $ 75 billion in the global economy.
Buamim added that the Dubai Marine Insurance Conference benefits from the position of the UAE and the Emirate of Dubai in particular as a major hub for the movement of goods, export and re-exportation between the two sides of the world. He praised the vision of the leadership in this regard through the rehabilitation of unique infrastructure and technology, For the establishment of a package of modern legislation for maritime transport and insurance activities, which strengthened the status of the State and the Emirate as one of the most important axes of maritime business activities in the world.
It is worth noting that Jebel Ali Port, along with the other ports in the Emirate of Dubai, has reached 25 million TEUs in recent years, while the annual capacity of ports in the UAE is about 15 million TEUs. Emirates ports are a transit center strategically located linking Central Europe and Asia. News Desk
