Sheikh Tariq Bin Faisal Al Qassimi discusses business cooperation with Texas Governor

A meeting was also held between Texas Governor Rick Perry and Sheikh Tariq Bin Faisal Al Qassimi, during which they discussed existing investment opportunities in the state and the potential for bilateral cooperation.

The visit to Texas forms part of an exploratory visit paid by Al Qassimi to the USA, with the aim of exploring existing, untapped investment opportunities that can be exploited at the present time, and further expanding the Group's investment in the US market.

Speaking of his visit, Al Qassimi said, "The impact of the global financial crisis on the US and global economies does not mean that the global markets are void of good investment opportunities that can yield excellent return on investment once they have been exploited in a timely and appropriate fashion. Texas is very attractive for investment due to the wealth of investment opportunities it offers, its solid infrastructure, and the fact that it is an oil-rich state."

Commenting on the occasion of Sheikh Tariq's visit, Governor Perry said:

"Sheikh Tariq's visit to explore the investment opportunities in the diverse economic sectors of Texas is an important indicator at this particular time. EIG has numerous successful investment opportunities in various sectors, which encourages us to discuss their vision regarding the US market and their future investments. We are pleased to see the keen interest that the Group has shown in the existing opportunities in our markets, and we are looking forward to further cooperation in the immediate future."

With a diversified economy that includes agriculture, manufacturing and trade, Texas enjoys a strong and stable economy supported by a solid infrastructure. Texas is the USA's first cotton producer and is ranked first among other states for producing such crops as cotton, rice, corn and wheat. Sulfur, helium, salt, cement, asphalt, graphite and clays are among the state's valuable resources. Some of the chief manufacturing industries in Texas are oil refining, chemicals, machinery, food processing, and transportation equipment. The state has 400,000 kilometres of road network, multiple airports and 13 seaports on the Gulf of Mexico.