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Home International Customs

UAE funding $840m renewable energy projects

byCT Report
05/04/2016
in International Customs
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ABU DHABI: The UAE has been financing over 30 renewable energy projects worth $840 million in 28 emerging countries under an ambitious funding programme launched six years ago, said the country’s environment minister at the opening of ‘Dubai WoodShow 2016′ on Monday (April 4).

More than 250 companies from 42 countries are taking part in the show which targets traders, architects, decision makers from the contracting, environment and other relevant sectors, said the organisers.

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UAE Minister of Climate Change and Environment Dr Thani Bin Ahmed Al Zeyoudi, stressing on the importance of the show hosted annually in Dubai, pointed out that the UAE was a strategic wood re-export centre thanks to its strategic and logistics location globally.

He said the Dubai WoodShow has drawn participations from many countries reflecting their confidence in the market. Legal trade of timber and the significance of dealing with licensed exporters of timber will also take a huge deal of discussions at the show which runs until April 6.

According to him, the wood trade is very significant to the UAE where 70 per cent of wood goes to construction sector and 30 per cent to other various sectors which demonstrates the vital role of wood in the country’s development.

Dr Al Zeyoudi revealed that the UAE will formally sign Conference of Parties (COP) 21 global climate agreement on April 22, adopted by more than 195 countries at last year’s climate change summit in Paris. This agreement aims to reduce global warming and is expected to replace Kyoto Protocol that ends in 2020.

On the woodshow, the minister said: “Based on my observation during the tour, this exhibition is up to the environmental standards where exhibiting companies are deploying stringent measures in wood production.”

At the show, a huge number of machineries from European, Chinese and American manufacturers were on display, targeting timber factories not only in the UAE but also other parts of the Mena region.

The show will focus on sustainability of wood resources at a time when the building and contracting industries in the UAE is using more timber compared to other resources. The show will also highlight “green building” solutions and the contribution of wood in this concept, said the organisers.

Wood is used as a major material for building in the GCC and it is also highly used in interior designs. The show encourages the use of wood with adherence to green and sustainable buildings in the region as well as in the UAE, it added.

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