Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

U.S.-Arab ties, Arab Spring feature high on 2nd U.S. Ambassadors Forum  Join our daily free Newsletter

MENAFN - Kuwait News Agency (KUNA) - 15/03/2014
No. of Ratings : 0
Add to Mixx!



(MENAFN - Kuwait News Agency (KUNA)) The National U.S.-Arab Chamber of Commerce (NUSACC), in partnership with the U.S. Department of State hosted here Thursday night the Second Annual U.S. Ambassadors Forum



During the Forum, several U.S. Chiefs of Mission currently serving in the Middle East and North Africa shed light on the U.S. commercial relations with the region, particularly in the context of post-Arab Spring rebuilding, the Free Trade Agreements between the U.S. and five Arab nations, and the infrastructure projects now under way in a number of GCC countries, including Kuwait



NUSACC President and CEO David Hamod said on this occasion "now in its second year, the U.S. Ambassadors Forum is one of our most prestigious events, particularly in light of the breadth of experience of these ambassadors, and the opportunities currently open to U.S. businesses in the MENA region." In his remarks before the Forum, Hamod stressed "in the world of technology, disruptiveness is key to innovation and opening up new markets. And so it will be with the Arab world



He indicated that this is a part of the world where U.S. exports are roughly doubling every four years, expecting U.S. goods exports to the Arab world to reach USD 175 billion in 2018 and goods and services to reach USD 245 billion



"Like other places around the globe, there are extremists in Middle East and North Africa. But the vast majority of the people in the Arab world have a deep appreciation for the United States," he said



He reiterated that this event "is all about cooperation, about partnership between the U.S. and Arab world and between NUSACC and the U.S. Department of State." Meanwhile, U.S. Ambassador to Kuwait Matthew Tueller said during the Forum's panel on "Moving Downstream: Diversifying Away From Oil and Gas," that Kuwait's economy is growing rapidly and trade with U.S. has also grew



He affirmed that Kuwait has some of the most "savvy, sophisticated businessmen investors in the region where their impact is felt well beyond Kuwait." "There are significant opportunities and as we work with U.S. companies to come to Kuwait " we see the companies succeed when they come in with patience and persistence," he remarked



He stressed that the Kuwaiti market is a "sophisticated market," saying "they know value when they see it and they want to see the best." Tueller shed light on various opportunities in Kuwait, such as investment in infrastructure, in the field of medical care and health, also higher education, power and water as Kuwait "is set to become one of the region's most active power and water projects markets in 2014," and the "highest priority" for Kuwaiti nationals which is housing, according to a number of surveys conducted in Kuwait



For her part, U.S. Assistant Secretary of State for Near Eastern Affairs Anne Patterson told the Forum that the U.S. has a "broad and deep relationship of trust and close consultation with countries of the region." She voiced hope that this event would lead "to action that will enhance regional trade and investment to spur economic growth and job growth." She stressed that political instability has become a "significant feature" across the Middle East in recent years "as people, especially young people, demand a greater say in the shaping of their destinies." "The U.S. intends to be engaged across the region to help promote economic growth and expand trade and investment building ties between countries and cementing connection in the global economy," she remarked



She noted "we want to see American firms fully engaged in the take off. This can only succeed if governments and businesses become partners in growth orientated reforms, creating a positive new cycle that will generate new opportunities." She affirmed that "the long term outlook for doing business in the Middle East is very promising. There is a huge youthful generation looking for new opportunities and new solutions." "Now is the time for American businesses to engage to be part of a new era of opportunities in the region," she added



The Forum was divided into two panels, the first one focusing on "Economies in Transition: Looking Beyond the Arab Spring," while the second panel concentrated on "Moving Downstream: Diversifying Away From Oil and Gas." According to data recently analyzed by the Chamber, U.S. exports to the Arab world grew 7.51 percent in 2013, setting a new all-time record for the region of USD 70.85 billion, and being the fourth consecutive year of increased sales of U.S. goods to the region



As in previous years, importing countries were led by GCC states. The GCC countries continue to drive U.S. exports to the region, accounting for 75.7 percent of total sales of goods to the 22 countries of the Arab world



Kuwait, according to the analysis, retained its position on the "Top Five Arab Markets" for 2013, with total imports from the U.S. reaching USD 2.594 billion last year

 


Kuwait News Agency (KUNA)




  MENA News Headlines
 Mar 3 2015 - Cruise liner traffic bound for Abu Dhabi to grow 25 percentMENAFN
(MENAFN) An increase of 25 percent in cruise liners calling at Zayed Port will help to lift the number of cruise tourists by 50 percent this season, The National reported.This season above 94 vessels ...

 Mar 3 2015 - UAE non-oil business growth declines in FebruaryMENAFN
(MENAFN) Business activity growth in the UAE non-oil private sector decreased to a five-month low in February but remained strong and above the average for 2014, a corporate survey showed, The ...

 Mar 3 2015 - Kuwait Fund grants USD23.8m to irrigation project in Lao RepublicMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) has signed a loan agreement in the city of Vientiane with the Democratic Republic of Lao, whereby the Kuwait Fund will offer the government ...

 Mar 3 2015 - Bahrain to launch USD22b development projectsMENAFN
(MENAFN) The government of Bahrain will be carrying out giant development projects with a value exceeding USD22 billion, Minister of Information said, KUNA reported.Bahrain is continuing with its ...

 Mar 3 2015 - KFAED finances USD13.47m loan to BelizeMENAFN
(MENAFN) Kuwait Fund for Arab Economic Development (KFAED) provided a USD 13.47 million loan to Belize to help in a road restoration project, a statement by the fund showed, KUNA reported.The ...

 Mar 3 2015 - FDI in Qatar posts USD30.65bMENAFN
(MENAFN) Foreign direct investments (FDI) inflow to Qatar registered USD30.65 billion at the end of 2012, a 1.2 percent growth from a year ago. Though the FDI has targeted various economic activities ...

 Mar 3 2015 - Oman's Raeco to invest USD395.75m for power expansionsMENAFN
(MENAFN) A total of USD395.75 million will be invested by Rural Areas Electricity Company (Raeco) in the next three years to raise the power generation capacity, transmission lines and distribution ...

 Mar 3 2015 - Kuwait Investment to cut US investmentMENAFN
(MENAFN) The Kuwait Investment Office (KIO), the London branch office of sovereign wealth fund Kuwait Investment Authority, is gradually reducing its overweight stance on US assets after keeping that ...

 Mar 3 2015 - Oman's NDC hits sales revenue of USD60.47m in 2014MENAFN
(MENAFN) National Detergent Co. (NDC), one of the leading FMCG companies in the sultanate, has posted total sales revenue of USD60.47 million for full-year 2014, compared with USD56.13 million a year ...

 Mar 3 2015 - 100 per cent rise in FDI expected this yearKhaleej Times
(MENAFN - Khaleej Times) Egypt expects 100 per cent increase in foreign direct investment, or FDI, during the current fiscal year compared to last year, Investment Minister Ashraf Salman said on ...

more...


 






Google

Arab Advisors_12th convergence conf

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help