For Immediate Release: November 1, 2011
Contact: Mary Trupo (202) 482-3809
Under Secretary for International Trade Francisco SÁnchez Links Expanding U.S.-UniteD Arab Emirates Trade to Future Economic Growth
U.S. Firms Ready to Aid United Arab Emirates (U.A.E.) in Transportation Infrastructure Projects
ABU DHABI, United Arab Emirates– Under Secretary of Commerce for International Trade Francisco Sánchez today explained that U.S. firms can offer the expertise, technologies, products, and services needed to help Abu Dhabi meet its goal of developing a world-class transport system by 2030. Sánchez delivered keynote remarks at luncheon hosted by the American Chamber of Commerce Abu Dhabi and the U.S. – U.A.E. Business Council. Abu Dhabi is the second stop on a Department of Commerce transportation infrastructure trade mission.
“The U.S. government wants to help Abu Dhabi achieve its ambitious plans by promoting commercial and investment partnerships,” Sánchez said. “One area with huge potential for partnerships is transportation infrastructure. Today I am here with 14 U.S. companies that are experienced, creative, committed to innovation, and ready to help.”
This trade mission supports President Obama’s National Export Initiative which aims to double U.S. exports by the end of 2014. Overall, U.S. exports increased by nearly 17 percent last year, contributed to nearly half of all U.S. economic growth, and supported 9.2 million jobs. In 2010, U.S. exports to U.A.E. totaled nearly $12 billion dollars.
“The U.A.E played an important role in this success, and my message to you today is that we want to do more,” Sánchez said. “The Gulf has been identified as one of six priority markets for the United States. The commitment to innovation here is firm, and the opportunities are enormous.”
Sánchez also noted that the global economy is moving fast, saying “those that fail to adjust by strengthening their commercial ties will be left behind. That’s why it’s critical that we deepen the trade ties between our two countries. The benefits would flow both ways.”
Sánchez added that the participating U.S. companies are world leaders in aviation, airport and port security, railroad technology, construction and related sectors.
“U.S. products and services represent quality. They can help the U.A.E. achieve its ambitious economic goals, which in turn brings new prosperity to your communities, and supports jobs in America.”
The full text of Sánchez’s remarks can be found at http://trade.gov/press/speeches/2011/sanchez-110111.asp
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