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
 May 25 2015 - Syria: Opposition forces kill 15 Assad regime soldiersThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Syrian opposition forces have killed 15 regime troops in operations in Aleppo, in northern Syria, the opposition said.The spokesman of what is referred to as ...

 May 25 2015 - Jordan calls for 'serious' Palestinian-Israeli talksThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Jordan called on Sunday for launching "serious" and "effective" negotiations between the Palestinians and the Israelis.Foreign Minister Nasser Judeh said the ...

 May 25 2015 - Libya pro-Brotherhood figures to attend Cairo meetingThe Journal Of Turkish Weekly
(MENAFN - The Journal Of Turkish Weekly) Some pro-Muslim Brotherhood figures from Libya will attend a Libyan tribal leaders' meeting scheduled to start in Cairo on Monday, an Egyptian newspaper ...

 May 25 2015 - Kuwaiti Singer Al-Rowaished HonoredArab Times
(MENAFN - Arab Times) Minister of Information and Minister of State for Youth Affairs Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah honored Sunday singer Abdullah Al- Rowaished for acquiring an ...

 May 25 2015 - General Assembly Members Of Qadisiya Club Honors Team For Winning Amir CupArab Times
(MENAFN - Arab Times) General Assembly members of Qadisiya Club Saoud Abdul Aziz Al-Babtain and Mohammad Abdul Aziz Al-Babtain organized a ceremony in honor of the number one football team in ...

 May 25 2015 - ALARGAN Posts KD 4.7mn Net Profit In 2014Arab Times
(MENAFN - Arab Times) ALARGAN International Real Estate Company held its ordinary General Assembly meeting on May 24, 2015, with an attendance level that reached 94.51 %. During the meeting, the ...

 May 25 2015 - KSE Kicks Off Week With 21.18 Pts DropArab Times
(MENAFN - Arab Times) Kuwait stocks pulled lower on Sunday after ending the previous week on dull note. The main index dropped 21.18 pts in lackluster trade to close at 631.09 pts as sentiment ...

 May 25 2015 - Kuwait Govt Woos Investors With Lucrative Business EnvironmentArab Times
(MENAFN - Arab Times) Kuwait has a lucrative business environment for foreign investors to ultimately see economic and human development, thus honoring His Highness the Amir Sheikh Sabah Al-Ahmad ...

 May 25 2015 - Jordan- Govts Need To Invest More In Infrastructure: AlghanimArab Times
(MENAFN - Arab Times) Bring more Arab women into the workforce, invest in "bite-sized" infrastructure projects and get the private sector more involved in training young job seekers - these are the ...

 May 25 2015 - Shabaab Fighting In Somalia Kills 24 PeopleArab Times
(MENAFN - Arab Times) Fighting in south Somalia between al Shabaab militants and government forces killed at least 24 people, while a rebel attack in the capital killed three Transport Ministry ...

more...


 






Google

Internatinal Property Show

 
 

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