DED hosts high-profile US delegation to boost trade ties

The Dubai Department of Economic Development (DED) hosted a high-profile delegation from the United States of America headed by Michael C. Camunez, Assistant Secretary of Commerce, U.S. Department of Commerce; Justin Siberell, Consul General Dubai, U.S. Consulate General Duabi; and Robert Dunn, Commercial Attaché, U.S. Consulate General Dubai. The delegation is touring the UAE to strengthen bilateral relations and evaluate investment and business opportunities in Dubai. 

The visiting delegation, which included a number of representatives from the U.S. Department of Commerce, was received by His Excellency Mr Sami Al Qamzi, Director General of DED; Ali Ibrahim, Deputy Director General for Planning and Development; Khalid Al Kassim, Deputy Director General for Executive Affairs; Fahad Al Gergawi, CEO of Dubai FDI; Abdul Basit Janahi, CEO of Dubai SME; and Saed Al Awadi, CEO of Dubai Exports. 

The delegation was provided an overview of DED’s vision and mission, its role in enhancing the growth of the Emirate’s business sector, as well as its experience in economic development. The delegation also reviewed the procedures and regulations necessary for setting up businesses in the Emirate, and insights on Dubai’s economic growth. 

Mr Al Qamzi stressed on the position of Dubai as the engine of growth and economic development in the Middle East region led by several concerted initiatives to consolidate its position as a business hub. “One of the strategic objectives of DED is achieving sustainable economic development by providing a suitable environment for international investors and business people and encourage them to choose Dubai as an ideal destination for businesses. DED reviews procedures and systems to simplify the steps for doing business and provide suitable grounds for investment,” said Al Qamzi. 

"Dubai Government is commmited to adopting pro-investment policies to encourage international companies to establish businesses in the Emirate. DED and its agencies look for avenues to strengthen strategic partnership with private sector organisations, one of the main contributors to economic development, as well as attract foreign investment, encourage SMEs, export development, and the drive the growth of the retail sector. The US is one of the key trade partners of Dubai and we are confident that the delegation will translate to tangible investments and stronger business ties with the country," added Al Qamzi. 

Direct trade between the US and Dubai recorded robust performance in 2010. The imports were led by machinery and electrical & electronics equipment valued at over AED9.9 billion followed by vehicles, aircraft and transport equipment, valued at AED7.8 billion. Import of chemicals and allied industries stood at over AED1.9 billion. 

Dubai recorded strong exports in base metals and products thereof valued at over AED254 million and plastics & rubber products, valued at AED177 million. Other exports from Dubai included semi-precious stones and metals, prepared foodstuffs, wood pulp & paper, and furniture, among others. 

Dubai also served as a re-export hub with re-exports of semi-precious stones and precious stones and metals valued at AED1.35 billion, as well as machinery and other equipment, vehicles, aircraft & transport equipment, textiles and vegetable products, among others.