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.
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 from March 26-30.
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 AED90 billion 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,” Al Gergawi said.
“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,” added Saed Al Awadi, CEO of Dubai Exports.
Danny Sebright, president of the US-UAE Business Council said the Dubai FDI mission will significantly raise Dubai’s profile in US markets.
“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,” he said.
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) and Abercrombie & Fitch.For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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