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Judge DP World by its abilities
It is surprising that some US lawmakers have picked up the company for criticism
- Published: 00:00 February 19, 2006
The criticism by some US lawmakers of DP World's successful bid for P&O, and control of some US ports, has more to do with domestic US policies than the world of commercial realities.
Mid-term elections are due later this year and the jockeying has already begun for those interested in seeking their party's presidential nomination. Raising security fears, however bogus, will ensure publicity and pander to the ignorance of a minority audience that equates foreigners with terror.
In fairness, both the White House and the Treasury Department have insisted that the deal is valid and have given their full-hearted approval for DP World to do business in the US. They know a good deal when they see one.
The White House, a firm proponent of free trade, could hardly do otherwise. Free trade is about the ability of companies and individuals who have proven their expertise to undertake their business in a safe and secure commercial climate anywhere in the world. DP World has a track record of reliability and safety second to none.
The UAE believes in free and fair trade and has strong credentials in maintaining safety, peace and stability in a region faced by multiple challenges. The country has remained a safe haven for expatriates to conduct business for more than 35 years. It also remains one of the strongest allies of America and is a global logistics and transportation hub.
It is also surprising that a small number of US lawmakers have, of all the entities, picked up DP World for criticism, when its sister concern Istithmar has acquired some assets in the US, including a stake in Time Warner.
Besides, P&O is not exactly an American company. Free trade is not about race or creed. It is about commercial ability and by that criteria alone should DP World be judged.
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