Abu Dhabi, US Economic Council set up

WAM Abu Dhabi, Mar 26th, 2013 (WAM)–The Abu Dhabi Department of Economic Development, Abu Dhabi Chamber and the American Chamber in Abu Dhabi, have announced the formation of Abu Dhabi – United States Economic Council, with the aim of providing a common platform to facilitate and expand trade and investment between the Emirate of Abu Dhabi and the United States.

This came after the signing of a charter to establish the joint economic council between Abu Dhabi Department of Economic Development, Abu Dhabi, chamber, the American Chamber – Abu Dhabi and the Embassy of the United States, the founding members of the Council on the sidelines of the round table meeting held at the headquarters of the New York University-Abu Dhabi.

The charter was signed by Mohammed Omar Abdulla, Undersecretary, Abu Dhabi Department of Economic Development; Mohamed Al Muhairi, Director General, Abu Dhabi Chamber, Hon. Michael Corbin, U.S. Ambassador to the UAE, and Gregory J. Golden, Chairman, of the American Chamber Abu Dhabi.

Mohammed Omar Abdullah in his speech at the Roundtable meeting said that the UAE-American relations are now closer than ever, with strategic depth in many areas, particularly economic cooperation and investment.

He noted that the establishment of the Abu Dhabi-United States Economic Council will provide an opportunity for Abu Dhabi and the United Arab Emirates private sector companies to benefit from the knowledge and long standing experience of American companies, especially those operating in the State, in order to raise their competitiveness and best integrate into the world market.

Abdullah said that Abu Dhabi is progressing with a steady pace towards economic diversification, targeted by Abu Dhabi Economic Vision 2030, to increase their integration into the world economy by creating opportunities and providing incentives and facilities to the private sector, UAE nationals and foreign companies to expand their businesses and create strategic partnerships with their counterparts from around the world.

He expressed his hope that the round table meeting between the Emirate of Abu Dhabi and the American Chamber of Commerce, will further cooperation and promote the common interests of the Emirate of Abu Dhabi and the United States, especially in the economic fields.

Abdullah praised in his speech the distinguished efforts exerted to establish the Abu Dhabi-United States Economic Council, which will help in the development the role of the private sector in the Emirate of Abu Dhabi, through setting strategic partnerships with counterparts in the United States and opening wider horizons of cooperation, investment and trade opportunities between the two sides.

Abu Dhabi- United States Economic Council work will focus on the development and strengthening of trade and investment between Abu Dhabi and the United States. Working groups will research analyze and make recommendations to the Executive Committee of the Council, to develop economic relations between the two sides and make appropriate decisions aimed at activating the role of the private sectors in the two countries, by taking advantage of investment and trade opportunities provided by Governments of the two countries.