ID :
125238
Mon, 05/31/2010 - 14:40
Auther :
Shortlink :
https://oananews.org//node/125238
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Obama Administration to further boost trade with UAE, says Assistant Secretary of Commerce
Abu Dhabi, May 31, 2010 (WAM)- The Obama administration put plans in place to double US exports to the UAE and the rest of the world over the next five years as part of the newly launched National Export Initiative (NEI), according to Assistant Secretary of Commerce Suresh Kumar.
US companies seeking to do business in the UAE will receive support from the U.S government as their "vigorous partner" as the U.S sees the UAE as a "gateway to regional and international markets" to increase exports, Kumar told reporters at a press conference Sunday in Abu Dhabi.
The efforts to boost U.S.-UAE bilateral trade and investments were at the centre of talks Kumar held with officials of the Abu Dhabi Urban Planning Council, Abu Dhabi Future Energy Company (Masdar) and the Ministry of Foreign Trade, Kumar said.
"U.S companies are increasingly finding that the UAE- not Paris or London- is the ideal location for their regional headquarters," said Kumar who is also the Director General of the U.S. and Foreign Commercial Service (USFCS) covering an extensive worldwide network of the 109 offices across the U.S. and 127 offices overseas in 77 countries. He is visiting the U.A.E. to promote the US National Export Initiative (NEI) to boost the U.S. economy by way of increasing exports.
The U.S. official cited the UAE's "unparalleled combination of air and sea connections, business services, openness and security" among the factors which made the UAE "a vibrant hub to grow regional business and global trade." Over 750 U.S. companies have offices in the UAE which imported over US$12 billion of U.S goods and services in 2009, figures which Kumar hopes would be increased in the context of NEI which is part of a U.S "concerted strategy (on) how to build global trade in a sensible manner." "This is a testament to the dynamism of the UAE economy and its openness to the international partners," Kumar added.
He noted that US rail companies are interested in taking part in the construction of the UAE's ambitious infrastructure plans and the new railway system being developed by the federal government.
"The UAE will find outstanding technology and knowhow in American rail companies who are industry global leaders." According to Kumar, the U.S has the most cost-effective freight rail system in the world with over 250000 kilometres of track, 1.4 million freight cars, 250000 locomotives and "unparalleled multi-model facilities." He stressed that U.S rail technology can help the UAE make its rail system the world's most efficient, profitable and safest.
For his part, U.S Ambassador to the UAE Richard G. Olson, Jr. said the level of bilateral trade with the UAE has multiplied six fold over the past decade making the UAE the U.S largest export market in the Middle East (over US$12 billion in 2009) and the 19th U.S. largest export market globally.
On Sunday, AmCham Abu Dhabi (the trademark of the American Business Group of Abu Dhabi) hosted a special event on May 30, 2010 in Abu Dhabi featuring Suresh Kumar.
The exclusive event highlighted the importance of the Commerce Department and its Foreign Commercial Service's integral role in promoting U.S. exports, which are important to rebuilding the American economy. – Emirates News Agency, WAM
US companies seeking to do business in the UAE will receive support from the U.S government as their "vigorous partner" as the U.S sees the UAE as a "gateway to regional and international markets" to increase exports, Kumar told reporters at a press conference Sunday in Abu Dhabi.
The efforts to boost U.S.-UAE bilateral trade and investments were at the centre of talks Kumar held with officials of the Abu Dhabi Urban Planning Council, Abu Dhabi Future Energy Company (Masdar) and the Ministry of Foreign Trade, Kumar said.
"U.S companies are increasingly finding that the UAE- not Paris or London- is the ideal location for their regional headquarters," said Kumar who is also the Director General of the U.S. and Foreign Commercial Service (USFCS) covering an extensive worldwide network of the 109 offices across the U.S. and 127 offices overseas in 77 countries. He is visiting the U.A.E. to promote the US National Export Initiative (NEI) to boost the U.S. economy by way of increasing exports.
The U.S. official cited the UAE's "unparalleled combination of air and sea connections, business services, openness and security" among the factors which made the UAE "a vibrant hub to grow regional business and global trade." Over 750 U.S. companies have offices in the UAE which imported over US$12 billion of U.S goods and services in 2009, figures which Kumar hopes would be increased in the context of NEI which is part of a U.S "concerted strategy (on) how to build global trade in a sensible manner." "This is a testament to the dynamism of the UAE economy and its openness to the international partners," Kumar added.
He noted that US rail companies are interested in taking part in the construction of the UAE's ambitious infrastructure plans and the new railway system being developed by the federal government.
"The UAE will find outstanding technology and knowhow in American rail companies who are industry global leaders." According to Kumar, the U.S has the most cost-effective freight rail system in the world with over 250000 kilometres of track, 1.4 million freight cars, 250000 locomotives and "unparalleled multi-model facilities." He stressed that U.S rail technology can help the UAE make its rail system the world's most efficient, profitable and safest.
For his part, U.S Ambassador to the UAE Richard G. Olson, Jr. said the level of bilateral trade with the UAE has multiplied six fold over the past decade making the UAE the U.S largest export market in the Middle East (over US$12 billion in 2009) and the 19th U.S. largest export market globally.
On Sunday, AmCham Abu Dhabi (the trademark of the American Business Group of Abu Dhabi) hosted a special event on May 30, 2010 in Abu Dhabi featuring Suresh Kumar.
The exclusive event highlighted the importance of the Commerce Department and its Foreign Commercial Service's integral role in promoting U.S. exports, which are important to rebuilding the American economy. – Emirates News Agency, WAM
