Remarks by Ambassador Marcelle M. Wahba
American Business Group NetworkingEvent
October 7, 2003
Good Evening, UAE Chamber of Commerce President H.E. Saeed Al Suwaidi, Abu Dhabi Chamber Director Mohammed Omar Abdullah, Your Excellencies, honored guests, and friends:
I want to welcome you all on behalf of the U.S. Embassy and the American Business Group. I want to acknowledge and thank my esteemed colleague, HE Ambassador K.C. Singh, for co-hosting this event. Last year, our Swiss and Canadian business and diplomatic colleagues hosted the inaugural networking event. Tonight’s turn-out is ample proof that this event is fast becoming – in only its second year – an Abu Dhabi tradition.
Much has happened since that inaugural networking event last year. The tragic events of September 11 truly changed the world, including the ways in which we do business.
Our theme for tonight’s event is “Joining Together for Progress” and the past year has indeed seen both much “joining together” and much “progress.” The business story in the Emirates continues to be one of great promise. We have all achieved many successes over the past year in partnership with our Emirati friends and colleagues. Tonight’s event offers us all an opportunity to share those successes and to explore new opportunities together. The Chamber of Commerce is clearly committed to helping us to succeed in that mutual effort. For example, in the next month alone the Abu Dhabi Chamber will sponsor 21 major events and host 8 international delegations.
Let me take just a moment to highlight a few recent American success stories: Occidental Petroleum was selected to play a major role in the Dolphin Project, one of the region’s largest gas projects ever. The Engine Alliance was chosen to supply the aircraft engines for Emirates Airlines’ impressive expansion program. But equally important is the continuing growth of small and medium-sized enterprises here in the UAE. Eight new-to-market American firms will attend the upcoming ADIPAC exhibition. In the year since the last networking event, our Foreign Commercial Service Office has assisted more than 50 new companies entering the UAE market. I am sure many of you could cite similar statistics about new memberships in your respective national business groups. That’s real “progress.”
Like you, we are aware of the regulatory and institutional challenges still facing us here. On that front as well, I see genuine, positive, and accelerating change. Let me give just one example: this past April, the UAE was removed from the US Trade Representative’s “Special 301” Watch List in recognition of the landmark agreement reached with U.S. pharmaceutical companies to extend patent protection to a number of medicines. The UAE is also working with the pharmaceutical industry group on the draft of a new Patent Law, which will afford TRIPS-compliant protection for pharmaceutical products. These and other improvements in the legislative and regulatory structure are convincing evidence of the UAE’s commitment to the creation of a modern, transparent, and welcoming environment for business.
The importance of the work done by the national business groups gathered here tonight can not be overstated. I am sure Ambassador Singh would agree with me that Embassies simply can not do all the necessary work alone. We need the assistance, experience, and guidance of our business communities. In short, it takes all of us “joining together for progress” to make it happen.
I commend all of you for your efforts to increase the commercial opportunities available in the UAE and I would like to give one final special thank you to the Abu Dhabi Chamber of Commerce for all it does in support of the business community.
Thank you.
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