(MENAFN- Khaleej Times) Partnership opportunities for the UAE and US in critical industry sectors as well as job creation and knowledge transfer through bilateral exports and investment are in focus as a delegation of representatives from key government and government-related entities in Dubai started their tour of four major US cities from Saturday.
Trade between the UAE and US reached Dh91.3 billion ($24.9 billion) in 2014 as the UAE remained the top export destination for the US in the Middle East and North Africa (Mena) for the sixth year in a row.
The delegation, coordinated by Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), will address business leaders and trade representatives in Boston (Massachusetts), Atlanta (Georgia), Chicago (Illinois) and the national capital Washington, DC as part of their 10-day US itinerary.
Transport-related exports to the UAE have enabled the state of Georgia alone to create 7,158 additional jobs between 2006 and 2013, while Chicago, a major exporter of construction equipment and machinery to the UAE, has generated over 1,500 additional jobs.
Washington, DC has investments from Dubai World, Dubai Holding, Dubai Aerospace Enterprises and Emirates airline, among other UAE entities within the capital district while Massachusetts has varied joint initiatives from the UAE, including the Harvard Medical School - Dubai and a Boston University dental school in Dubai Healthcare City.
The Dubai delegation will conduct presentations, discussions and informal meetings in the host cities with the objective of introducing Dubai as a competitive business destination with a wide regional coverage and demonstrate Dubai's interest in developing mutually beneficial partnerships with US companies and entrepreneurs.
The delegation comprises senior executives from Dubai such as the Dubai Corporation for Tourism and Commerce Marketing (DCTCM), Jebel Ali Free Zone Authority (Jafza), Dubai Multi Commodities Centre (DMCC), Emirates airline, Emirates SkyCargo and Dubai Exports, the export promotion agency of the DED.
"Trade relations between the UAE and the US have continued to flourish, especially in critical economic sectors. For both sides, it's the right time to seize the moment and take our engagement to a new level wherein businesses can successfully pursue new market opportunities and new jobs can be created for citizens. Dubai can convincingly address the US investor community with the proven advantages of our bilateral engagement till date," said Fahad Al Gergawi, chief executive officer (CEO) of Dubai FDI.
Engineer Saed Al Awadi, CEO of Dubai Exports, said the co-ordinated efforts of DED agencies have helped the local business sector to promote the emirate as an export and re-export destination for foreign trade. "We have seen a 22.3 per cent growth in UAE exports to the US in 2014 compared to 2013, largely due to rising exports and re-exports of consumer electronics, precious stones and other non-oil commodities," added Al Awadi.
Issam Kazim, CEO of DCTCM, said: "We look forward to supporting their efforts by showcasing Dubai as an attractive destination not only for investment, but also in terms of lifestyle and tourism. I have no doubt that the road show will be a great success for all parties involved."
Ibrahim Mohamed Aljanahi, Deputy CEO - Commercial, of Jafza, said that the free zone is already home to more than 340 US multinationals that include a large number of Fortune 500 companies. "Dubai remains the gateway and trade and commerce hub for the entire Middle East that ranks among the fastest growing regions in the world. Jafza has been attracting large multinationals from across the world, including the US," said Aljanahi.
Ahmad Hamza, Director of Operations, DMCC, said that the US mission is a valuable way to way to engage with key stakeholders and identify new areas for collaboration as they seek to attract more fast-growing corporations to the DMCC free zone.
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