US-Arab Chamber focuses on potential for US entrepreneurs in the UAE

WASHINGTON, USA: As part of the Entrepreneurs’ Organization’s (EO) Global Policy Summit in Washington, DC, fifty CEOs and guests were invited to attend a private reception hosted by the United Arab Emirates (UAE) embassy in co-operation with the Bilateral US-Arab Chamber of Commerce. The objective was to give entrepreneurs a chance to discuss opportunities in the Middle East with experienced officials from the region.

Saud Al Nowais, Commercial Officer, briefed guests about the bilateral trade relationship between the UAE and United States. As of 2009, the United States exported $12 billion to the UAE with about forty percent of that value comprised of transportation equipment.

The UAE government continues to spend billions annually on infrastructure development. These include multi-billion dollar projects, including nuclear power plants, a heavy rail system, port construction and expansion, airport construction and expansion, as well as investments in solar power and sustainable construction.

“The ability to discuss progress and potential in a region is the cornerstone to developing profitable and long-standing relationships, and something the Chamber has focused on for over a decade,” said Aida Araissi, president of the Chamber. As a result of the opportunity to speak with UAE officials, the EO expressed interest in strengthening its presence in the UAE and CEO attendees inquired further into the opportunities available.

During his April 2009 address to the Middle East in Cairo, President Obama outlined his vision of fostering trade between the region and the United States. In furtherance of this goal and his ongoing efforts to improve the economy, President Obama announced the development of the National Export Initiative in April 2010.

Shortly thereafter, the Presidential Summit on Entrepreneurship was held in Washington, DC to bring together entrepreneurs from the Middle East and US decision-makers. The Summit allowed for a healthy dialogue to improve relations and help entrepreneurs navigate the complicated avenues of bureaucracy.

The EO Global Policy Summit was held with these objectives at center stage. Based on the suggestion of the Chamber, the reception was held at the UAE Embassy, exhibiting the same qualities as the country it represents -- educated, progressive, emphasizing ideas, solutions, and deliverables.

As the Chairman of the Global Policy Summit, Benjamin Richter, remarked “there is a unique opportunity to form significant relationships between leading entrepreneurial companies and our global counterparts. Specifically the United Arab Emirates is a tough leader for the prevailing growing understanding of the enormous economic impact that innovative entrepreneurs and their organizations have on the health and growth of our modern economies.”