Mid-east machine tools market to further boom
Posted: 16 January 2006
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The market for machine tools in the Middle East is fast booming, says the organisers of SttelFab, an event that will feature the largest display of steel machinery in the Middle East.
The region’s total import of machine tools total was estimated to have exceeded $ 2.96 billion in 2005. Within the GCC, Saudi Arabia and the UAE are the largest importers of machinery accounting for nearly 70 per cent of the total imports, the statement said.
During last year, the two countries together imported machine tools worth roughly $ 750 million of which UAE’s share was approximately $ 246 million. Special industrialised machines were major imports in the category, crossing $ 135 million.
For Saudi Arabia too, special industrialised machines were on top of the machine tools import list with 278.51 million worth of imports.
Other imports in the category included machine tools with removal of material, machine tools without material removal, metal machine tools parts and metal working machinery.
The UAE is third most important re-export centre in the world after Hong Kong and Singapore respectively. In 2004, its total re-exports amounted to $ 27.65 billion, it said.
SteelFab will be held in Expo Centre Sharjah on 22 January.
Fasahat Ali Khan, Acting Director General, Expo Centre Sharjah, said: “Demand for machine tools in the UAE has been experiencing a significant increase mainly due to the booming construction sector, rapid industrialization and a rise in downstream activities.
“Coupled with these factors along with the thrust on re-exports and the fact that the UAE is an established regional procurement base, the import of machine tools will further rise in the coming period.”
Khan added: “SteelFab is the ideal market entry vehicle for global manufacturers of machine tools eyeing the Middle East market.”
The three-day SteelFab, which will feature Steel, Fasteners, Accessories, Surface Preparation, Machinery and Tools, Welding and Cutting, Finishing and Testing equipment, and Coatings and Anti-Corrosion material, will begin at Expo Centre Sharjah on January 22, ’06.
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