Dubai And Seattle Firm Up Ties To Share Expertise In Promoting Business And Investment
Dubai and Seattle are taking their growing ties to the next level with Dubai FDI, the foreign investment office in the Department of Economic Development (DED) signing a memorandum of understanding (MoU) with the Economic Development council (EDC) of Seattle and King County as well as the Trade Development Alliance (TDA) of Greater Seattle.
The MoU provides a framework for the two sides to consult, co-operate and exchange information in areas of mutual interest. Dubai FDI, and Seattle’s EDC and TDA will also undertake joint initiatives to meet their respective strategic interests and objectives.
Fahad Al Gergawi, Chief Executive Officer of Dubai FDI signed the MoU with Terry Danysh, Vice Chair of the Economic Development Council of Seattle and King County and Stephanie Wright, Board member of the Trade Development Alliance of Greater Seattle, during a visit by the Seattle delegation to Dubai FDI recently.
“Dubai and Seattle are in many ways similar and complement each other on many fronts. While Dubai is the central hub of the thriving MENASA (Middle East, North Africa and South Africa) market, Seattle sits at the heart of the Pacific Northwest, a region encompassing key centres of trade, knowledge and tourism in the US,” commented Al Gergawi.
“Dubai and Seattle share a special relation, which extends to a personal level beyond their economic similarities. The leadership in Dubai has since long focused on Seattle’s leadership in education and both the cities have evolved into knowledge-based economies and developed specialised industry clusters,” added Jeff Marcell, President & CEO of the Economic Development Council of Seattle and King County.
“A growing number of multinationals and investors are moving to Dubai, attracted by the unique lifestyle, cosmopolitan culture and competitive business environment in the city. Seattle is also a premier destination to live and do business and Emirates operating daily flights from Dubai to Seattle has opened another channel for bilateral trade and tourism” Gergawi said.
Known as the Emerald City of the Pacific Northwest, Seattle is home to leading global brands, including Boeing, Microsoft, Starbucks, Amazon, Expedia, Nintendo and Nordstrom. Seattle’s growing ties with Dubai also assumes significance in the context of Emirates being the leading operator of industry-leading Boeing 777 planes.
Members of the Seattle delegation also termed the MoU as a synergy of two global hubs serving the same markets. The State of Washington, comprising Seattle, is a major exporter of software, audio-visual equipment, aircraft parts, medical and surgical supplies, and foodstuffs to UAE, China, India and Japan and Hong Kong. With Dubai offering the most competitive connections to Asia, the partnership is best-placed to leverage future economic opportunities.
“Dubai is home to the world’s third largest re-export hub, third busiest international airport, as well as industry clusters serving varied sectors such as logistics, technology, education and healthcare, along with world-class residential, retail and entertainment facilities. The government’s policy focus is on consolidating these advantages into better efficiencies for people and businesses,” Al Gergawi said.
Emirate: Dubai
Date: Mar 19, 2013
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