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Tue 6 Aug 2013 02:10 PM

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Sharjah set to target US cities for investment

Largest-ever delegation to visit New York and Washington in bid to promote Emirate

Sharjah set to target US cities for investment
A view of the Empire State Building in New York, one of the US cities targeted by Sharjah. (AFP/Getty Images)

Officials from Sharjah are to target Washington and New York next month on an investment roadshow.

They intend to promote Sharjah's investment, business and cultural attractions in the US cities during the roadshow which is set to take place from September 30 to October 4.

The event will feature the largest delegation from public and private sectors to participate to date, a statement said.

Marwan bin Jassim Al Sarkal, CEO of Sharjah Investment and Development Authority, also known as Shurooq, said: "The tour is part of the Emirate's current strategy of strengthening cooperation with various international parties and promoting Sharjah as the business, tourism, and cultural destination of choice in the region."

Al Sarkal added that he hoped that the first roadshow to the US would "help open new avenues of cooperation in various areas, particularly with the huge participation of public and private sector in the delegation".

He said the visit was timely as many US firms were looking to expand to the Middle East and Asia.

Earlier this year, official data showed that US exports to the Arab World rose more than 17 percent to nearly $66bn in 2012.

Figures released by the National US-Arab Chamber of Commerce (NUSACC) showed that exports to 22 Arab nations increased from $56.18bn in 2011 to $65.91bn last year, its highest for a single year.

By comparison, total US merchandise exports to the world increased by only 4.5 percent, from $1.48trn in 2011 to $1.55trn in 2012.