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
 Dec 22 2014 - MoI discusses setting up national strategic plan to fight drugsEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Ministry of Interior, MoI, has discussed ways to establish the first national strategic plan to combat drugs. The discussion took place during a specialised ...

 Dec 22 2014 - GCC Secretary-General hails initiative of Saudi King on Qatar, Egypt reconciliationEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dr. Abdullatif bin Rashid Al Zayani, GCC Secretary-General, expressed satisfaction with the initiative of the Custodian of the Two Holy Mosques, King Abdullah ...

 Dec 22 2014 - Etihad Airways goes double daily to MelbourneEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Etihad Airways today announced plans for a second daily non-stop service between Abu Dhabi and Melbourne from 1st August 2015.The additional flight will be ...

 Dec 22 2014 - Dubai Municipality launches recycling initiative at Safa ParkEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Dubai Municipality has launched an initiative to encourage Safa Park visitors to exchange their recyclables, such as plastic and cans, in exchange for Union ...

 Dec 22 2014 - Ducab Aluminium begins construction of new facility in KizadEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Abu Dhabi Ports Company, ADPC, has announced that Ducab Aluminium Company has broken ground for its new aluminium rod and conductor facility at Kizad.After ...

 Dec 22 2014 - Kuwaiti Emiri Diwan mourns death of Sheikha Sabah Al-Nasser Al-SabahEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The Kuwaiti Emiri Diwan today mourned the death of Sheikha Sabah Al-Nasser Al-Sabah, spouse of His Highness Sheikh Jaber Al-Mubarak Al-Hamad Al-Sabah.According ...

 Dec 22 2014 - OPEC daily basket price Friday 19th DecemberEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The price of OPEC's basket of twelve crudes stood at US$55.52 a barrel on Friday, compared with $56.30 the previous day, according to OPEC Secretariat ...

 Dec 22 2014 - World Islamic Travel Summit to debut in Abu DhabiEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  The World Islamic Travel Summit, WITS15, the largest showcase of Halal travel and tourism solutions, is to debut in Abu Dhabi next October.The pioneering ...

 Dec 22 2014 - DEWA sponsors first Emirati student to Lima Climate Change Conference in PeruEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  Bader Al Hammadi, an Emirati student and Carbon Ambassadors Programme member, has participated in the United Nations COP20 Climate Change conference in Lima, ...

 Dec 22 2014 - China tops Algeria's supplier list for second yearEmirates News Agency (WAM)
(MENAFN - Emirates News Agency (WAM))  China has emerged as Algeria's largest supplier in the first 11 months of 2014, figures from customs showed on Sunday.China topped the list of the largest ...

more...


 






Google

Click to Apply

 
 

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