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American Chamber of Commerce Executives Visits the Dubai International Financial Centre

- Mohammed Almasri

Monday, 08 March 2010 09:51

The Dubai International Financial Centre (DIFC) today hosted a delegation from the American Chamber of Commerce Executives (ACCE), an association for chamber of commerce professionals in the United States and Canada.

Abdulla Mohammed Al Awar, CEO of the DIFC Authority, received the delegation, which included Presidents, Chairmen and CEOs of Chambers of Commerce from across the US and Canada. DIFC officials made a presentation on DIFC and its offerings for the financial services industry, following which the delegation was led on a tour of the financial district.

Abdulla Mohammed Al Awar said: “The UAE has had a strong and enduring relationship with both the US and Canada based on mutual political, economic and financial interests. With the global economy undergoing a transformation, we have an opportunity to redefine and enhance this relationship. The visit of the ACCE delegation gave us an opportunity to discuss areas of potential new synergies in the economic domain especially in financial services and capital markets. The investments made by the Nasdaq OMX Group and the CME Group in Dubai’s capital market institutions and the presence of many leading North American financial services companies in DIFC have already created strong linkages between our two regions. We eagerly look forward to further strengthening this relationship.”

HE Eng Hamad Buamim, Director General, Dubai Chamber of Commerce & Industry
maintained that the Chamber is very keen on showcasing the real picture of Dubai’s economy to the visitors who will get a first-hand account of the opportunities available in the active sectors of trade, exports, logistics and financial services as well as the supporting sectors of tourism and real estate.

He said, “ Dubai’s economy is full of investment opportunities in many sectors and as the US investors are looking at emerging markets to expand their business activities, Dubai provides the ideal destination for their investments due to its geographic location, world class infrastructure and competitive advantage.”

The US-Dubai 2010: Executive Business Leaders Mission to Dubai is an initiative organized by Dubai Chamber of Commerce & Industry with the objective of boosting trade ties between Dubai and the US and to reaffirm Dubai’s position as a popular investment destination for American businesses and a gateway to the Middle East, Africa and Asia. The US-Dubai 2010: Executive Business Leaders Mission comprises of 45 top officials of major American chambers from the American Chamber of Commerce Executives (ACCE) and representing hundreds and thousands of American companies.

ACCE is the only national association serving the professional development needs of chamber professionals throughout the US and Canada. Representing more than 7,300 individuals, ACCE enhances the knowledge, leadership skills, and management effectiveness of chamber executives and their staff through education, benefits programs, trend analysis, benchmarking, and network development. ACCE promotes the highest standards of professional excellence and integrity within the chamber profession.

The Dubai International Financial Centre (DIFC) is an onshore hub for global finance. It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services. In just five years, over 850 firms have registered at DIFC. They operate in an open environment complemented with world-class regulations and standards. DIFC offers its member institutions incentives such as 100 per cent foreign ownership, zero tax on income and profits and no restrictions on foreign exchange. In addition their business benefits from modern infrastructure, operational support and business continuity facilities of uncompromisingly high standards.

Global Arab Network