The establishment of ADERA marks a significant long term commitment by the government of Abu Dhabi to supporting international and local research in economics. ADERA funded research will generate a substantial increase in understanding the development of Gulf Cooperation Council economies, which will support the implementation of effective policy to promote growth, particularly as Gulf economies diversify away from dependence on oil revenue.
In a ceremony hosted at the Shangri-La Hotel under the auspices of HE Nasser Ahmad Al Suwaidi, DED Chairman, the new agency will sign an agreement with the German Institute for Economic Research (DIW-Berlin) to establish DIW-Berlin as the first of ADERA's Research Affiliates. In the coming weeks further agreements with other leading economics research institutions will be signed. Abu Dhabi is the first Gulf State to establish a research funding agency dedicated to economics research.
Recognising the value of such information and potential impact on their economy, the state's government has already signed an agreement with the UK's Economic and Social Research Council (ESRC), forming a link between the research communities of both countries. ESRC has advised and assisted in the development of ADERA's strategy, research schemes and procedures.
"In today's increasingly interconnected global economy, and uncertain economic times, the importance of the economies of the Gulf Cooperation Council (GCC) region has never been greater." said Professor Ian Diamond, Chief Executive of the ESRC. "I am delighted that the ESRC is able to provide assistance and partnership to this pioneering new agency. Providing high quality economic research is vital, not just to individual countries or regions but across the world. From a UK perspective, it will bring further funding opportunities for UK based economic research and facilitate their collaboration with colleagues in this important and growing part of the world. "
ESRC Press Office:
Danielle Moore (Tel: 01793 413122, email: danielle.moore@esrc.ac.uk)
Jeanine Woolley (Tel: 01793 413119, email jeanine.woolley@esrc.ac.uk)
NOTES FOR EDITORS
1. Abu Dhabi Economics Research Agency (ADERA) has been founded to improve globally the level of economics and related research relevant to Abu Dhabi and its region. The new agency will fund research teams in affiliated universities and institutions around the world to provide high quality research relevant to a sustainable economy and the realisation of Abu Dhabi's Economic Vision 2030.
2. The Department of Economic Development in Abu Dhabi is responsible for establishing and implementing government policies to promote sustainable economic growth, through regulation of the business sector and economic affairs, the preparation of plans, programmes and development projects, and cooperation with international and regional organisations and specialised agencies to achieve the Emirate's economic interests.
3. The Economic and Social Research Council (ESRC) is the UK's largest organisation for funding research on economic and social issues. It supports independent, high quality research which has an impact on business, the public sector and the third sector. The ESRC's planned total expenditure in 2009/10 is £204 million. At any one time the ESRC supports over 4,000 researchers and postgraduate students in academic institutions and independent research institutes. More at http://www.esrcsocietytoday.ac.uk.