UAE OPEC exit "reflects our confidence in our capabilities", says Sultan Al Jaber

New Delhi [India], May 4 : The United Arab Emirates' decision to exit OPEC and OPEC+ serves as a strategic component of a broader economic reset designed to reshape the country's industrial base and enhance national resilience, said Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, ADNOC Managing Director and Group CEO, and Executive Chairman of XRG.

According to a report by Gulf News, speaking at the opening of the Make it in the Emirates Forum, Al Jaber noted that the move provides policymakers with greater flexibility in global energy markets while deepening the domestic economy. He noted that the decision aligns with a national vision to integrate industrial output with advanced technology.

"The United Arab Emirates' sovereign decision to reposition itself within the global energy landscape, and to exit OPEC and OPEC+, is not a decision directed against anyone," the report quoted Al Jaber.

The Minister described the exit as a carefully considered move reflecting confidence in national capabilities. He linked the energy transition to a wider strategy involving artificial intelligence and supply chain security.

"This move was not done in isolation," the report quoted Al Jaber. "It is part of a broader effort to reshape our economy and industrial base through a vision that connects energy, technology, and industry, aligning our resources with national priorities to build a stronger, more resilient economy."

Al Jaber maintained that the UAE intends to remain a reliable participant in global energy markets. He explained that the country seeks more room to expand investment and align its resources with internal priorities while supporting international market stability from a position of increased flexibility.

"Real strength is not measured by the abundance of resources, but by how they are harnessed to create value and serve the nation," the report quoted Al Jaber.

The Minister also addressed the importance of industrial sovereignty in relation to global trade routes. He warned that disruptions to vital arteries like the Strait of Hormuz carry significant consequences for the global economy, including higher costs and production halts. He categorised freedom of navigation as a non-negotiable legal status for international waterways.

"Economic security cannot be imported; it must be built and protected," the report quoted Al Jaber.

The UAE's industrial strategy resulted in a 70 per cent growth in the sector's national contribution, reaching Dh200 billion. Al Jaber highlighted that industrial exports climbed to Dh262 billion, including Dh92 billion in advanced exports. He pointed to artificial intelligence as the primary driver for the next stage of manufacturing growth.

"Artificial intelligence will no longer be just a tool in our factories," the report quoted Al Jaber. "It will become an industrial brain and a partner in decision-making, redefining efficiency, productivity, and the decision-making process."

The next phase of the industrial model includes the National In-Country Value Programme, which aims to redirect spending into local factories and talent. Al Jaber announced that industrial procurement opportunities are expected to rise to Dh180 billion over the next decade. He also introduced the Local+ initiative to prioritise UAE-made products across ADNOC projects.

"Investing at home, or Direct Domestic Investment, is no longer an option; it is a priority," the report quoted Al Jaber. "Because it is an investment in our stability, our economic sovereignty, and the future of generations to come."

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor