Special edition of US-Arab Tradeline focuses on Kuwait

This is the first time that the U.S.-Arab Chamber has produced a newsletter focused solely on Kuwait, a reflection of the increasing importance of commercial ties in the strategic relationship between the two nations.

Speaking in Kuwait, David Hamod, President and CEO of the Chamber, said:

"The timing of today's launch is important symbolically for two reasons. First, in the context of the Summit, it is appropriate for a chamber of commerce like ours to highlight the significance of trade and investment as lifeblood for the Arab economies. Second, a new President of the United States was just inaugurated in Washington DC, and our launch here in Kuwait is intended to send a message to Mr. Obama about the importance of Arab-U.S. commercial relations - in this case, with the State of Kuwait in particular."

The Special Issue of U.S.-Arab Tradeline contains exclusive interviews with senior officials in Kuwait and the United States, including: H.H. Sheikh Salem Abdullah Al-Jaber Al-Sabah, Kuwait's Ambassador to the United States; Hon. Debra Jones, U.S. Ambassador to the State of Kuwait; H.E. Ali Thunayan Al-Ghanim, Chairman of the Kuwait Chamber of Commerce and Industry; and Hon. Edward 'Skip' Gnehm, a former U.S. Ambassador to Kuwait and a Board member of the National U.S.-Arab Chamber of Commerce.

The Special Issue also contains profiles of the Amir of Kuwait, H.H. Sheikh Sabah Al-Ahmed Al-Jaber Al-Sabah, the Prime Minister, H.H. Sheikh Nasser Al- Mohammed Al-Ahmed Al-Sabah, and Kuwait's Crown Prince, H.H. Sheikh Nawaf Al-Ahmed Al-Jaber Al-Sabah.

The lead story of the special issue discusses steps that Kuwait has taken in recent months to liberalize its economy and to attract direct foreign investment. The newsletter also highlights key sectors for commercial growth, including energy, information and communications technology, aviation and aerospace, retailing, tourism, logistics, and banking and financial services.

In a story on competitiveness and innovation, the Special Issue points out that Kuwait was ranked 30th in the world in competitiveness last year by the World Economic Forum. In a separate study, the Insead Business School ranked Kuwait 30th in the world in innovation, placing Kuwait above such emerging market powerhouses as Brazil, Mexico, Turkey, and Russia.

The U.S.-Arab Chamber, established 40 years ago, is widely regarded as the voice of American business in the Arab world and the premier portal to the United States for Arab commercial enterprises. With offices in New York, Houston, Los Angeles, and its headquarters in Washington DC, the U.S.-Arab Chamber is unique in its ability to provide 'coast-to-coast' service. The Chamber is affiliated with the Kuwait Chamber of Commerce and Industry through the General Union of Arab Chambers of Commerce, based in Beirut.

In a special issue essay entitled 'Kuwait: Up from the Ashes,' President and CEO David Hamod highlights Kuwait's resilience and the nation's ability to rebuild after Saddam's devastating invasion. Kuwait's leadership, Hamod notes, is "making ambitious plans to turn Kuwait into a commercial and financial center. Like the proverbial phoenix, Kuwait is rising from the ashes."

However, Hamod cautions that Kuwait must be careful about the influence of political gridlock on commerce. He concludes, "Political involvement in Kuwait promotes considerable transparency - there is no such thing as a secret in Kuwait - but it also raises the specter of a gradual erosion of commerce in the shifting sands of politics."