AmCham Abu Dhabi boosts UAE’s connectivity and business opportunities for USA and UAE
The movement for developing relations between the Unites States of America and the United Arab Emirates has set off in 2012 in the course of a discussion regarding the reinforcement of cooperation between the UAE local companies and those in the USA.
The discussion happened between the Chairman of the Federation of the UAE Chambers of Commerce and Industry and President of Abu Dhabi Chamber of Commerce and Industry (ADCCI) and the US Ambassador of the United States to the UAE. The meeting focused on investment and industrial partnership.
Along with the heads of the two agencies, the Chairman of the American Business Group (AmCham) in Abu Dhabi, the Director General of ADCCI, the Commercial Counselor at the Embassy of the United States in the UAE; and the Director of Businesses and Communications Sector at the Abu Dhabi Chamber have attended the meeting.
The ADCCI stated that they are devotedly coordinating and working together with the American Business Groups and Councils that are established in the capital to maximize the involvement of the US firms in the economic development plan of the Emirate and provide more business opportunities for the entrepreneurs from both countries. It said that there was large fraction of companies overseas are now giving so much attention in developing industrial projects in Abu Dhabi with the help of their counterparts in the emirate because of its strategic location in the Gulf and the emergence of new markets in the region.
Later on, the formation of the an economic council for Abu Dhabi and the US was brought up by the Chamber in Abu Dhabi, the American Chamber in Abu Dhabi, and Abu Dhabi Department of Economic Development in order to provide the businesses in both countries with a general platform to enable and increase trading activity and the volume of investments among the two countries.
An agreement was inked for the establishment of the Council to make the relations of the US and UAE stronger than before. The agreement covers the tasks of the new Economic Council which is composed of an Executive Committee, Consultative Committee and off-the-cuff working alliances present in several economic sectors including but not limited to investment trade, and industry.
The American Business Group of Abu Dhabi (AmCham) has been working in the background advocating investment, business opportunities and benevolence between the USA. AmCham Abu Dhabi stands as an autonomous, nonprofit business alliance consists of Fortune 500 conglomerates, small- medium enterprises, and renowned business personalities and tycoons. AmCham is a member of the global network of American Chambers of Commerce and is affiliated with the U.S. Chamber of Commerce in Washington D.C., Abu Dhabi Chamber of Commerce and Industry, AmCham MENA and the US-UAE Business Council.
The group is headed by an Executive Director and managed with its professional team. It is composed of the Board of Directors, four officers and eleven members at large. Every year, a general meeting and strategic planning Seminar are being held to introduce more improvements and keep the status as a leading professional organization.
The roundtable meeting is organized by the AmCham for more than 150 leading business administrators, businesspersons, researchers and government representatives from the capital of UAE and the USA. The gathering talks about the issues confronting the trade industry and investment between the two cities reaching to the and business routines, laws, and strategies, with the objective of raising US direct foreign investment in Abu Dhabi and the whole UAE, and to indorse exported goods from the US to the Middle East thru the Emirate of Abu Dhabi.
The agreement enumerates the commissions of the Executive Committee which comprise of supervising the advancement of the Council, attaining conclusions, and defining groups and units who are entitled to the statements of the Council for great consideration. On the other hand, the duties of the Consultative Committee as per the commission cover the daily processes of the congress, controlling, directing and enabling the undertakings of the employees, including the auxiliary group supporting to move forward and accomplish the work, along with going through the intelligences presented by the said groups, and verify if the said documents must be forwarded to the topmost Committee for deliberation.
AmCham serves as an exceptional meeting ground where the executives can tackle and deliberate about the different concerns affecting the business the flow of business operation between the U.S. and U.A.E. The group had introduced a number of fundamental government support agendas, informative and networking plans and tailored business services for the advantage of its members. Owing to the unceasing reinforcement of its members, AmCham Abu Dhabi has been acknowledged as a representative of American business establishments in Abu Dhabi.
The group facilitates more business partnership opportunities for private sector companies based in Abu Dhabi and the United Arab Emirates to gain from the information and the background of American firms, particularly those running in the State, with the purpose of nurturing their competitiveness and take part effectively into the world market.
The UAE capital exhibited a firm stride in the direction of economic expansion, through its Economic Vision 2030, to intensify their assimilation in the global economy by building more prospects and delivering motivations and services to the private sector, UAE residents and companies from overseas to branch out their activities, increase their transactions and form strategic connections with the corresponding companies all around the world.
According to the Administrative Office of Customs in Abu Dhabi, the aggregate trade between the United States and Abu Dhabi four years ago had reached to over USD 14,483,917.
In order to develop and bolster trade and investment between Abu Dhabi and the United States, working groups like the AmCham will study, scrutinize and offer proposals to the Supervisory Committee of US-UAE Economic Council, to fortify economic affairs between the states and make suitable resolutions underlined to empower the private sectors in all of their activities in the two countries, by taking hold of the opportunities for investment and trade by local governments of the two countries.
Official website: www.amchamabudhabi.org