Sharjah: In keeping with its commitment to promote the investment potential of the emirate of Sharjah, the Sharjah Investment and Development Authority, Shurooq, concluded a series of high profile investment meetings with premier US based organisations and institutions. The high-level delegation to the US was led by the UAE Ministry of Economy.
The UAE delegation attended meetings and events in Washington DC, Seattle, San Francisco, and Los Angeles.
The Shurooq delegation was led by Shaikha Budoor Bint Sultan Al Qasimi, Chairperson of Shurooq, and included Marwan Bin Jasim Al Sarkal, CEO, Saud Meqdad Al Suwaidi, Director of Corporate Services, and Elie Jamil Armaly, Director of Business Development.
Speaking about the US visit, Shurooq CEO, Marwan Al Sarkal, said, “The relationship between the US and Sharjah, which has long been highly mutually beneficial, continues to grow stronger. In the past two years alone, Shurooq has signed Memoranda of Understanding aimed at increasing bilateral cooperation with the National US Arab Chamber of Commerce, the US Chamber of Commerce, the US-UAE Business Council, and the Export-Import Bank of the US (Ex-Im Bank). Shurooq’s participation in the Ministry of Economy delegation was an excellent opportunity to further build on this already strong foundation, which was the focus of the range of meetings that the Authority conducted in the US.
“There is a great deal of potential for highly mutually beneficial cooperation between Sharjah and US based companies and organisations and we are extremely pleased with the high level of positive feedback and interest that this visit has created,” he added.
During their participation in the US visit, Shurooq conducted separate meetings with representatives from a range of companies, organisations, and entities.
US-Sharjah bilateral trade stood at $5.46 million in exports, $15.2 million in re-exports, and $726.9 million in 2012 and these figures continue to grow. In 2013, US-UAE bilateral trade amounted to $2.3 billion in exports and $24.5 billion in imports. These figures are projected to increase markedly, as evident from the results of the first two months of 2014 which show $408 million in exports and $3.5 billion in imports.
