UAE Minister of Foreign Trade reaches out to U.S. business community

Associations at the luncheon represent tens of thousands of U.S. companies employing more than one million U.S. workers.

Sheikha Lubna noted that the UAE and the United States have stood together as allies, and we continue to stand together, both economically and politically. The UAE has become America's top export destination in the Middle East, and this has encouraged us to be more competitive, to enforce the rule of law, and to promote the exchange of ideas and technology.

"The UAE will never compromise on excellence, which helps to explain why we have achieved the lion's share of foreign direct investment in the Arab world. Investors appreciate that 65 percent of our GDP now comes from non-oil sources and that we have become the world's third largest hub for re-exports."

the minister said.

David Hamod, President & CEO of the Chamber, noted that

"Her Excellency's visit to the United States comes at a strategic time. The Arab world has the potential to play a very important role in helping to stabilize global financial markets, and U.S. institutions are looking for reliable, well-heeled investors. Her presence here has sent a strong message that the UAE remains open for business, and there is keen interest in two-way trade and investment."

Participating in the meeting was H.E. Yousef Al-Otaiba, the UAE's Ambassador to the United States, as well as 20 top trade association leaders.

These included Presidents of organizations representing U.S. companies in such sectors as manufacturing, tourism, information and communications technology, aerospace and aviation, education and training, apparel, financial services, and standards and conformity assessment.

"One of the lessons of the 2006 DP World fiasco," Sheikha Lubna said, "was that we lacked a sufficient understanding of the United States and the need to meet with various constituencies here. We learned a lesson the hard way that it's important to reach out across the country - to member companies like yours - and not to focus only on Washington DC. Companies in communities around the United States deserve our attention and really add value in terms of exports."

The Minister of Foreign Trade continued, "Many are surprised by the fact that the UAE, one of the top ten nations in oil and gas reserves, generates almost 50 percent of its GDP from services. That is because when you export to the UAE, you are looking at a potential market of almost a billion consumers in the Arab world and Asia. With this in mind, we have developed some of the world's best logistics centers when it comes to imports, exports, and re-exports."

Shaun Donnelly, Senior Director at the National Association of Manufacturers, with 14,000 member companies, complimented H.E. the minister on her ability to reach out to the U.S. business community.

He said,

"Sheikha Lubna is not only a talented, dedicated, and effective government official; she is also an incredible ambassador for her country with a unique ability to connect with people around the world. She seems to have a special gift for connecting with Americans of all positions, professions, and political stripes."

David Hamod, President of the U.S.-Arab Chamber, concurred.

"If the U.S. wants to continue promoting trade and investment with the Arab world," he said, "we should listen to Sheikha Lubna. With her extensive knowledge and longstanding relationships here, she is an excellent resource for the next President of the United States - whether he's a Democrat or a Republican."