US companies invited to invest in Dubai

Dubai, Sep 5 (IANS/WAM) Dubai Chamber of Commerce and Industry Wednesday invited American companies to consider investing in Dubai for expansion while highlighting the investment benefits offered by the United Arab Emirate.

The invitation was extended during the visit by a US trade mission headed by Congressman Danny K. Davis.

Addressing the delegation, Hisham Al Shirawi, second vice chairman of Dubai Chamber, said: "I urge more American companies to come to Dubai as Dubai is an ideal base for expansion into this region. It has the infrastructure, a thriving business environment, a strategic location and the right investment opportunities."

He added: "Dubai and the US have a strong trade partnership that has increased significantly over the past decade"

"In that time, Dubai's total non-oil trade with the US has increased 500 percent, from AED (United Arab Emirates Dirham) 11.9 billion in 2002 to AED 76.5 billion in 2012, making it Dubai's fourth largest trade partner."

He said the bilateral relationship between Dubai and the US was good but more could be done to boost further growth.

Dubai Chamber has 1,230 US companies among its members. It also has the American Business Council that works to represent, support and protect the needs of these companies.

Davis praised the development of the UAE and its achievements saying that the diversification of the economy and the independence from oil reliance were the main elements of its strength, which reflects the wise vision of its leaders.

The visit by the US delegation is part of the Trade Mission Series-State of Illinois to Bahrain, the UAE and Qatar from Aug 30-Sep 6.

--IANS/WAM

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