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Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy, will lead a mission to Ohio, United States, as part of attracting further investment into key industries and business sectors in Dubai and the UAE in general. Senior executives from Dubai Exports, the export promotion agency of Dubai Economy, as well as Dubai Multi Commodities Centre (DMCC), Dubai South, Emirates Airline, Emirates SkyCargo and Dubai Tourism will also be part of the mission.
The mission, supported by the Embassy of the UAE in Washington, UAE Consulate in Boston and the US-UAE Business Council, will tour the cities of Cincinnati and Columbus in Ohio during 26-30 March 2018.
Seminars to highlight the infrastructure programmes and innovation strategies driving development across Dubai and the UAE will be the major feature of the mission’s itinerary in each of the host cities. Members in the mission will interact with businesses, industry associations and representatives of the State as well as local governments to explore partnership potential in promoting bilateral trade and investment.
Columbus and Cincinnati join a growing list of US cities Dubai FDI has covered as part of its Global Mission Programme to establish partnerships with investors and enablers in the private sector and government, said Fahad Al Gergawi, CEO of Dubai FDI.
“UAE-US bilateral trade totaled nearly 90 billion dirhams in 2017 and Ohio was the 7th largest US exporter to the UAE in 2016. Dubai has a valuable opportunity now to build on the existing trade partnership as economic diversification has accelerated and the Dubai Industrial Strategy 2030 gathers momentum towards transforming the emirate into an international hub for knowledge-based, innovation-driven and sustainable industrial activities,” Al Gergawi said.
The mission will highlight Dubai’s advantages in providing a growth and expansion platform for global companies, particularly its emphasis on competitiveness, ease of doing business, sustainability, and connecting global trade and people movements across its state-of-the-art export, re-export and transport infrastructure.
“Infrastructure development in Dubai continues to enable faster movement of goods between key markets. Dubai and Ohio’s industry can build a synergy wherein both will be better integrated into global value chains and emerge as bigger players in global trade,” said Engineer Saed Al Awadi, CEO of Dubai Exports.
“We will continue to support Dubai FDI’s trade missions to the US as we seek to further strengthen bilateral relations to ultimately boost trade along the US–UAE corridor,” added Ahmed Bin Sulayem, Executive Chairman of DMCC. “Destination next is Ohio to connect with its agri community and fast-moving consumer goods (FMCG) sector to ensure they are aware of the best practice infrastructure we offer entrepreneurs and large companies alike in DMCC and Dubai, as we together look to drive the next wave of growth.”
Saud Al Nowais, Commercial Counsellor in the UAE Embassy in Washington said the strategic vision, planning and persistence of Dubai FDI has been instrumental in the UAE retaining its position as the top export destination for the US in the Middle East, with US$20 billion (AED 73.4 billion) worth of exports.
“In their effort to put Dubai on the map as the geographic and economic lynchpin of the Middle East, North Africa and South Asia, Dubai FDI has established, cultivated, and strengthened Dubai’s relationships with critical US markets, and paved the way for long-term US FDI into the UAE, which reportedly reached close to AED 50 billion in 2016. The UAE Embassy looks forward to supporting the Government Investment Missions to the US in 2018 too and we are honoured to help bring Dubai’s global message to key business markets in the American heartland,” added Al Nowais.
Danny Sebright, President of the US-UAE Business Council said the Dubai FDI mission will significantly raise Dubai’s profile in US markets as a leading innovation and logistics hub for US businesses to export their goods and services. “Dubai FDI is developing mutually beneficial public and private-sector partnerships in US markets including Ohio where exports of US products to the UAE already support hundreds of thousands of American jobs.”
Ohio’s chief exports to the UAE include transportation equipment, cosmetics, industrial machinery, electrical equipment, chemicals and business as well as healthcare services. Cincinnati, the largest metropolitan area in Ohio, is home to leading industry brands such as Procter & Gamble, Macy’s Department Store, Mitsubishi Automotive Electric America, and GE Aviation in addition to a number of world-class healthcare and educational institutions.
Columbus, the second largest metropolitan city in Ohio, is home to five of the 50 most valuable retail brands in the US, including L Brands (Victoria’s Secret, Bath & Body Works etc.) and Abercrombie & Fitch. A well-established logistics hub, the city is also the North American headquarters and research and development (R&D) centre for companies such as Honda of America and DHL Supply chain.
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