The U.S.-U.A.E. Business Council, in partnership with the Embassy of the United Arab Emirates in Washington, D.C. and the U.A.E. Consulate in Los Angeles, hosted U.A.E. Minister of Economy His Excellency Sultan bin Saeed Al Mansouri in Palo Alto, California on Thursday. The closed-door event in the heart of Silicon Valley attracted senior business, government, and entrepreneurial leaders from the Bay Area and broader U.S.-U.A.E. community. The innovation-focused policy luncheon included Minister Al Mansouri’s keynote presentation on U.A.E. economic development and a panel discussion on innovation and entrepreneurship with Emirati business leaders from the Minister’s delegation.

U.S.-U.A.E. Business Council President Danny Sebright kicked off the event with welcome remarks underlining the significance of the U.S.-U.A.E. trade relationship and the Minister’s decision to bring an Emirati delegation of business leaders with him to the United States. In his comments, Sebright applauded the U.A.E.’s leadership for matching their vision and commitment to sustainable economic development with the resources to realize the country’s objectives. In doing so, Sebright, highlighted key areas of growth and potential for further engagement between leaders navigating the future of American and Emirati industry.

Following Sebright’s welcome, U.A.E. Consul General in Los Angeles His Excellency Abdulla Alsaboosi took the podium to introduce Minister Al Mansouri and to provide the Palo Alto audience with his perspectives on the importance of entrepreneurship and innovation. In his introductory comments, Alsaboosi welcomed Minister Al Mansouri to California, highlighting key areas of commercial and trade partnership between the state and the U.A.E. Alsaboosi also noted the rapid development of Silicon Valley’s start-up culture and the U.A.E.’s objectives to develop the same in line with global best practices.

During his keynote speech, Minister Al Mansouri provided the audience of executives, entrepreneurs, and officials with an overview of the U.A.E. economic development plan to build an innovative, sustainable economy. In his comments, Minister Al Mansouri noted the importance of idea exchange and world-class training to the successful cultivation of innovation. In doing so, Minister Al Mansouri pointed to several hallmark U.S.-U.A.E. commercial partnerships and investments in technology and across the economic spectrum.

“Silicon Valley is the birthplace of countless technology-driven and innovative companies operating on the global stage,” said Al Mansouri. “The U.A.E. is home to many of these companies’ regional headquarters in the Middle East – a clear indication of world-class partnership in technology sectors driving global market development. With the U.A.E. Government’s stated commitment to have innovation contribute 5% to the GDP by 2021, Silicon Valley is a successful model of an ecosystem that we are looking to learn from. ”

After Minister Al Mansouri’s formal remarks, a panel of business leaders from the U.A.E. discussed innovation and entrepreneurship in the U.A.E., in the broader Middle East North Africa region, and within the context of U.S.-U.A.E. commercial and investment partnership. The panelists included: Liwa Ventures Founder Ibrahim Al Suwaidi, ICT Fund CEO Omar Al Mahmoud, i360 CEO Kamal Hassan, Tecom Investments Managing Director of Dubai Internet City Majed Al Suwaidi, and Crescent Enterprises Vice President of New Ventures Samer Choucair. During the panel, Emirati business leaders were given the opportunity to provide their views on the role of innovation in economic development and pulse American counterparts for thoughts on best practices.

“We are honored to host Minister Al Mansouri and his esteemed Emirati delegation in Silicon Valley – a region that embodies the honored trade mission’s themes of innovation and entrepreneurship,” said Sebright.

Minister Al Mansouri and his senior delegation will continue to hold meetings with public and private sector stakeholders in the Bay Area before traveling to Los Angeles and returning to the U.A.E. this weekend.

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About the Embassy of the United Arab Emirates:

Since its establishment many years ago, the Embassy in Washington has been an important resource to strengthen and deepen the already excellent relationship between the U.A.E. and the U.S. Our nations’ complementary resources have increased economic partnerships, expanded security cooperation, and fueled innovative cross-cultural programs and investments. The Embassy, on behalf of the people of the United Arab Emirates, continues to look for opportunities to engage with our friends and hosts in communities across the U.S. Website: www.uae-embassy.org

About the U.S.-U.A.E. Business Council:

The U.S.-U.A.E. Business Council is a progressive business advocacy organization solely committed to the advancement of the trade and commercial relationship between the United States and the United Arab Emirates. The Business Council actively works to ensure that the U.S. and U.A.E. remain attractive destinations for foreign direct investment by conducting effective policy advocacy, undertaking various trade promotion initiatives, providing ongoing updates on the business climate in both countries, and helping develop strategic relationships between U.S. and U.A.E. business and government officials. Website: www.usuaebusiness.org