Chicago-The U.S.-U.A.E. Business Council, in partnership with the Illinois Chamber of Commerce hosted senior American and Emirati business leaders for lunch on Tuesday in support of a senior-level commercial delegation visiting Chicago from Dubai, United Arab Emirates (U.A.E.). The luncheon featured keynote remarks by Mr. Gautam Sashittal, Chief Executive Officer of DMCC, and an in-depth presentation by Ms. Krysta Fox, Director of DMCC. The luncheon discussion was moderated by U.S.-U.A.E. Business Council President Danny Sebright who welcomed senior stakeholders from the Chicago area and the broader U.S.-U.A.E. Business community.
Following an introduction from Mr. Sebright and William Delaney, Chairman of the Illinois Chamber of Commerce International Business Council, the formal program commenced with keynote remarks delivered by DMCC CEO Mr. Sashittal, who discussed the importance of the delegation’s visit to a key market such as Chicago. Following Mr. Sashittal’s remarks, Ms. Fox delivered a presentation highlighting the opportunities and benefits available to U.S. and Chicago-based companies in setting up a business enterprise in the emirate of Dubai.
“The U.A.E. and the U.S. are long-term economic partners and enjoy a robust trade and investment relationship that has grown dramatically in recent years,” said DMCC CEO Mr. Sashittal. “With one of the most open and dynamic economies in the world, the U.A.E. offers an attractive proposition for U.S. businesses and entrepreneurs, from service and trading companies to manufacturers and educational institutions, to gain traction in the Middle East region and access other potentially lucrative markets in Africa and South Asia.”
Left to right: Mr. Belal Jassoma, Manager, Product & Service Development of DMCC, Mr. William Delaney, Chairman of the Illinois Chamber of Commerce International Business Council, Ms. Krysta Fox, Director of DMCC, Mr. Alexis Serfaty, Vice President of the U.S.-U.A.E. Business Council, Mr. Gautam Sashittal, Chief Executive Officer of DMCC, & Mr. Danny Sebright, President of the U.S.-U.A.E. Business Council
During her presentation, Ms. Fox emphasized the important commercial role that DMCC plays as a leading hub for business in the U.A.E. Highlighting its unrivaled digital and physical end-to end services and infrastructure model, which attracts key players throughout the entire value chain of a wide range of commodities sectors. Ms. Fox also spoke about the process of registration and licensing including the simplified e-application process and availability of longer-term licenses and improved client relationship management. Ms. Fox underscored the importance of DMCC as the largest free zone in the U.A.E. DMCC was also recently named “Global Free Zone of the Year” by Financial Times fDi.
Following Mr. Sashittal’s remarks and Fox’s presentation, the floor was opened for a question and answer session with the panel. During the exchange, local executives were given the opportunity to engage the panel in discussions about commercial feasibility and the benefits of starting up their businesses at DMCC. Topics covered during the Q&A session included: Cost savings of Chicago-based businesses while operating out of DMCC, the effect of lower oil prices on DMCC’s growth, and challenges and opportunities for doing business in the U.A.E.
Sebright concluded the luncheon by thanking the honored speakers and the business community for joining the discussion. Private business to business meetings between the delegation members and representatives from local companies were held thereafter.
