AmCham Abu Dhabi, the National Defense Industrial Association, and the U.S.-U.A.E. Business Council hosted a reception on Saturday, October 2nd, 2010 at the Emirates Palace Hotel in Abu Dhabi in honor of the visit of the U.S. Aerospace & Defense Trade Mission to the U.A.E.
The reception was attended by business executives and government and military leaders from the U.S. and U.A.E. with interests in the defense, aerospace, and security sectors. H.E. Sheikha Lubna al Qasimi, the U.A.E. Minister of Foreign Trade, will provide keynote remarks. H.E. Sheikha Lubna’s biography and remarks can be found below:
H.E Sheikha Lubna Bint Khalid Al Qasimi
Minister of Foreign Trade, Government of the U.A.E.
Her Excellency Sheikha Lubna Bint Khalid Al Qasimi is the first woman in the U.A.E. to hold a ministerial position upon appointing her as Minister of Economy in November of 2004. Effective February of 2008, she is currently the Minister of Foreign Trade.
Her Excellency Sheikha Lubna Bint Khalid Al Qasimi holds a Bachelor Degree in Science from California State University in Chico of USA. She also has a Masters’ Degree in Business Administration from the American University in Sharjah.
Her Excellency Sheikha Lubna held a number of positions including Dubai Branch Manager of General Authority of Specialized Information, Senior Manager of Information technology Management at Dubai Ports Authority, Head of Executive Team at Dubai E-Government, the person in charge of implementing initiatives of Dubai EGovernment in the public sector, Chairman of “Tejari” currently, and CEO of the same company during 2000, Chairman of U.A.E. Securities and Commodities Authority between 2004 and 2008, and Minister of Economy effective from November 2004 to February 2008.
Her Excellency also obtained a number of local and international awards and certificates of appreciation for her key role played in the Political area and proper management. She is also a member on the board of directors for “Friends of Cancer Patients”, the board of Trustees of the Electronic Total Quality Management college, the board of trustees for Thunder Bird, The American Graduate School of International Management College, Phoenix, Arizona of USA, Emirates Foundation-Abu Dhabi (charitable organization), Dubai School of Government. She’s also a former board member of the Dubai Autism Center and a former member on the board of trustees of Zayed University.
H.E Sheikha Lubna Bint Khalid Al Qasimi’s Remarks:
Good evening ladies and gentlemen. I would like to thank all of you for coming tonight and for those of you who are with the delegation, welcome to the UAE. Before I begin, I would like to thank US Ambassador to the UAE Mr. Richard Olsen for being here tonight, it is always a pleasure to see you. I would also like to thank General Larry Farrell of the National Defense Industrial Association and Mr. Danny Sebright of the US-UAE Business Council for co-organizing and implementing the US Aerospace and Defense Trade Mission. Last but not least, I would also like to thank Mr. John Habib and AMCHAM for Co-hosting tonight’s reception.
I would like to talk to you tonight about the dynamic bilateral trade relationship the United Arab Emirates shares with the United States. The UAE and the US are reliable allies, with shared security and economic interests. This is due to the fact that the UAE is a source of stability, tolerance, innovation, and growth in the Arabian Gulf and around the globe. It stands to reason that the UAE is the largest U.S. export market in the Middle East. Just last year, over 12 billion US Dollars in trade flowed between our countries’ borders; In fact, early estimates project that American exports to the UAE in 2010 could be close to double. This dynamic statistic has been bolstered through investments in US capital markets and direct investments in the US economy over the last 30 years. The UAE is also home to over 750 US firms across multiple sectors and is home to over 30,000 US expatriates. The UAE supports an energetic business environment which is constantly looking to improve upon itself and move forward.
I understand that there are many US defense companies with us this evening interested in exploring opportunities in our country. This is very important to the UAE, as US homeland security is tied directly to the UAE’s role as a source of security and stability in the Gulf. More US naval vessels visit UAE ports than any other port outside of the US, and the UAE hosts more than 2,000 US military personnel. The UAE contributes to US and international security initiatives, including Afghanistan, Iraq, and UN operations in Somalia and Kosovo. It is also important to note that the UAE enforces aggressive anti-money laundering initiatives, counter-terrorist financing laws, and various other regulations. However, the UAE is always thinking and planning for the future. There is hope that the UAE will eventually be able to manufacture and supply parts to other countries in the Gulf region and beyond. The UAE is geographically situated in an ideal location to be able to build, fix, repair, rebuild, and maintain some of the region’s defense industry. This focus is creating exciting business opportunities all over this country which when tapped, would prove mutually beneficial commercially and from a security standpoint.
The aerospace industry is another sector which the UAE is committed to supporting. The lead US exports to the UAE in 2009 were aerospace products and services. Furthermore, the UAE’s airlines, specifically Etihad and Emirates, are dedicated to buying American aircraft. Emirates is continuing to expand its Boeing 777 fleet while FlyDubai and Etihad are exploring American options as well. Dubai International Airport added capacity in 2009 when it opened the new $4.5 billion Terminal 3 and is beginning construction of Concourse 3 which is scheduled for completion in 2012. At the Farnborough Airshow in London July of this year, several UAE companies like Mubadala Aerospace, Etihad & Emirates Airlines, Abu Dhabi Aircraft Technologies, were present and some very notable deals were formed. An agreement was reached with the US company Sikorsky to establish a maintenance, repair, and overhaul center in Al Ain to the tune of $800 million. This facility, labeled AMMROC, is intended to serve the armed forces of the UAE and other nations in MENA region. Furthermore, other deals were struck with US firms included: Emirates Airlines purchasing 30 planes from Boeing as well as purchasing engines from “The Engine Alliance” a JV between GE and Pratt & Whitney; Mubadala Aerospace also signed agreements with Goodrich, Honeywell, and Sikorsky.
While the UAE has a strong relationship with many of the large US Defense and Aerospace companies, we see room for a lot more partnerships and new facilities being created to provide multiple sources for parts, and even a measure of self-sufficiency by creating capability at home, and creating jobs and a future for people in these sectors. The composition of the delegation is particularly interesting as most of the companies are 2nd, 3rd, and 4th tier companies with no current presence or relationship with the UAE. The interaction you will have with the “tier one” companies, as well as the briefings and tours you will receive from UAE entities in these sectors, will undoubtedly open many doors and present opportunities and synergies that would benefit both sides.
The UAE has come a long way in 30 years but there is always room for innovation. If there is one thing I would like you to remember, it is that US support and partnership will allow both of our countries to achieve our mutual goals. Your presence here this evening is testament to this and we look forward to working with you to build a stronger and safer future for both the UAE and the US.
Thank you.
