In an effort to expand mutual collaboration and promote bilateral economic cooperation, a delegation from the Dubai Economic Council (DEC) signed a Memorandum of Understanding (MoU) with the U.S.-U.A.E. Business Council on Thursday, during their visit to Washington D.C.
“The U.A.E. and U.S. enjoy historic relations covering various domains: economic, trade, financial and technological, among others. Dubai in particular has been a hub for American businesses deployed across a spectrum of industries,” said H.E. Hani Al Hamli, Secretary General of the DEC.
“In terms of its Strategic Plan 2021, Dubai is looking forward to enhancing its ties with the U.S.in a number of non-trade areas, importantly R&D, innovation and education. Against this backdrop, this MoU will provide a framework of mutual understanding and collaboration between the two institutions in various fields by encouraging the exchange of advice, expertise and knowledge through unified collaboration for the favor of business community and citizens of both countries.”
Dubai Economic Council Secretary General H.E. Hani Al Hamli
& U.S.-U.A.E. President Danny Sebright
Danny Sebright, President of the U.S.-U.A.E. Business Council, added “the U.A.E. remains America’s top export destination for the entire Middle East and North Africa (MENA) region for the sixth year in a row. The U.S. and U.A.E. shared $24.9 billion in overall trade in 2014. By signing this MoU, the DEC and the U.S.-U.A.E. Business Council will provide a major contribution toward expanding the bilateral U.S. and U.A.E. relationship while adhering to the highest standards of best practice regulations.”
During the remainder of their visit, the DEC will meet with the Export-Import Bank to sign a $5 billion Memorandum of Understanding. This agreement will highlight a variety of goods and services that American exporters will provide the DEC in order for Dubai to continue the expansion of its infrastructure projects.
For your reference, more information about the Dubai Economic Council can be found below.
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About Dubai Economic Council:
Since its inception in 2003 at the initiative of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, Ruler of Dubai, the Dubai Economic Council (DEC) has and continues to play a major role in supporting the Government of Dubai’s economic policy decision-making.
The Dubai Economic Council, chaired by H.E. Juma Al Majed, comprises of leading businessmen and officials representing the most vital sectors of the Emirate’s economy, and a Secretariat General led by H.E. Hani Al Hamli encompassing a world-class team of economists, strategists, researchers and legal advisors.
The DEC has transformed itself into a vital player in advancing Dubai’s economic agenda by providing the Emirate with sound economic policy recommendations that are the culmination of extensive, cutting-edge research, and dynamic dialogue built on the contributions of representatives of the public and private sectors and world-renowned academics.
As Dubai’s position in the global economy gained momentum, the DEC evolved to accompany the growing needs of Dubai and the UAE as a whole, which stands as testimony to the DEC’s crucial role in shaping Dubai’s economic reality. In light of this, the Secretariat established the Economic Policy and Research Center (EPRC) and the Legal Affairs and Research Center (LARC); which together form the operational arms of the Dubai Economic Council.
For more information, please visit Dubai Economic Council’s website at: http://www.dec.org.ae/.
