ID :
27404
Thu, 10/30/2008 - 14:06
Auther :
Shortlink :
https://oananews.org//node/27404
The shortlink copeid
Global crisis will not have substantial impact on US capital in UAE
Abu Dhabi, Oct 30, 2008 (WAM) - US economists commended the decision made by President H.H. Sheikh Khalifa Bin Zayed Al Nahyan to guarantee the deposits in the local and foreign banks operating in the country to protect the UAE banking system from the current global financial crisis.
They stated that the decision was very crucial, as it increased the world confidence in the UAE economy, which they described as healthy and prosperous.
They stressed that the wave of the financial turbulences afflicting the global markets will not have a substantial effect on the volume of the US investment in the UAE.
They made their remarks at a symposium organised Tuesday by the Centre of Information Affairs in Abu Dhabi on "UAE-US Economic Relations".
A group of American economists and businessmen, represented by Dr. John Habib, President of the Board of Directors, the American Business Group of Abu Dhabi; and Mr. Elias Sayah, Executive Vice-President of the Group, participated in the event.
In the opening session, Dr. John Habib, President of the Board of Directors, the American Business Group of Abu Dhabi, praised the progress achieved by the UAE, especially in industrial, tourist, and cultural fields, which qualified the country to be a global market and a centre for creative initiatives.
He said that the friendly relations and cooperation between the United Arab Emirates and the United States are growing and developing, day after day, in all fields, indicating that the amount of the trade in non-oil trade between the two countries crossed the 12 billion U.S. dollars at the close of 2007. And the UAE, he said, is a major trading partner with the U.S. in the Gulf.
Dr. John Habib indicated that the UAE economic diversification policy is capable of attracting American direct foreign investment in non-petroleum sectors.
They stated that the decision was very crucial, as it increased the world confidence in the UAE economy, which they described as healthy and prosperous.
They stressed that the wave of the financial turbulences afflicting the global markets will not have a substantial effect on the volume of the US investment in the UAE.
They made their remarks at a symposium organised Tuesday by the Centre of Information Affairs in Abu Dhabi on "UAE-US Economic Relations".
A group of American economists and businessmen, represented by Dr. John Habib, President of the Board of Directors, the American Business Group of Abu Dhabi; and Mr. Elias Sayah, Executive Vice-President of the Group, participated in the event.
In the opening session, Dr. John Habib, President of the Board of Directors, the American Business Group of Abu Dhabi, praised the progress achieved by the UAE, especially in industrial, tourist, and cultural fields, which qualified the country to be a global market and a centre for creative initiatives.
He said that the friendly relations and cooperation between the United Arab Emirates and the United States are growing and developing, day after day, in all fields, indicating that the amount of the trade in non-oil trade between the two countries crossed the 12 billion U.S. dollars at the close of 2007. And the UAE, he said, is a major trading partner with the U.S. in the Gulf.
Dr. John Habib indicated that the UAE economic diversification policy is capable of attracting American direct foreign investment in non-petroleum sectors.
