United Arab Emirates and OPEC, new book

The Center for Information Affairs, affiliated to H.H. Deputy Prime Minister’s Office, has published a book entitled, “United Arab Emirates and OPEC”, on the occasion of the participation of President H.H. Sheikh Khalifa Bin Zayed Al Nahyan in the Third OPEC Summit, which is due to take place in Riyadh on 17 and 18 November.

The book displays the oil strategy adopted by H.H. President and its positive impacts on all fields related to sustainable development, as well as the role of the State in formulating and reinvigorating the bases of the OPEC joint action aimed at stabilizing oil markets and providing oil supplies necessary for the continuation of the growth of the international economy and protection of the interests of both the producer and the consumer.

The book indicates that the tremendous achievements in oil sector and the successful use of oil wealth in the United Arab Emirates (UAE) have contributed in realizing a civilizational renaissance that encompassed all aspects of life.

It notes that H.H. Sheikh Khalifa Bin Zayed has defined his vision for the oil strategy as one that responds to the ambitions and aspirations of the nation and its citizens. The book quotes His Highness as saying, “The UAE oil strategy relies on investing oil wealth in a carefully thought way that takes into considerations the fulfillment of the requirements of economic and social development, with the aim of achieving prosperity and building a better life for people in the UAE, while considering on the same level the sharing and contribution of the coming generations in oil wealth.”

The main interest of His Highness President consists in the expansion toward establishing sophisticated, industrial, oil base across the country.

The book tackles the role of the UAE in the OPEC, stating that the country has always been seeking to maintain the unity of the OPEC because of its importance to oil market. That is why H.H. Sheikh Khalifa Bin Zayed, on every occasion, has called for the necessity that the OPEC countries agree collectively on a complementary strategy, seek justice in their decisions, and settle all existing problems through a comprehensive agreement and unified plans for production and prices, it says.

The book indicates that the interest of the UAE’s political leadership in using oil wealth for building the nation and achieving prosperity and progress for its citizens does not distract it from linking this strategic resource to pan-Arab and humanitarian issues. Therefore, the UAE has been an influential force in supporting just issues, embracing development matters in the developing courtiers, and providing aids and assistance to many humanitarian organizations and the needy brothers and friends everywhere in the world, added the book.