US Exports Middle East 2009 - (GCC and MENA)

Dec. 24, 2008 - PRLog -- US business links with the Middle East will be further enhanced with the US Export Council delegation of  US companies to Dubai and Abu Dhabi in March 2009 on a five day Trade and Investment Mission.

It is part of a series of events for US firms to learn the ins and outs of doing business in the booming Middle East and North African (MENA) markets and the commitment to strengthening trade ties with this lucrative market.

The majority of US companies attending the Trade and Investment Mission are small to medium-sized businesses that now more than ever, are looking to find new ways of doing business: new markets, new opportunities and new business partners.

The business event is designed to offer US firms commercial opportunities, information and face to face meetings with potential buyers and the know how to expand and develop their business potential in the Gulf and MENA markets.

With the fall in value of the dollar,  US manufactured products are competitively priced when compared with products from the EU and UK.

In the first half of 2008 US exports to the UAE were up 42% from the same period in 2007, making the UAE the fastest growing market among the United States’ top 20 export markets.

“If your business has an established market in the U.S. there is no reason why you can’t extend your reach and successfully compete overseas as well.  Exporting presents an opportunity to significantly grow your business and its revenue” says Johnny Brown, Middle East Trade Advisor, at the U.S Export Council. Mr. Brown was a Senior Officer at the U.S. Department of Commerce for 30 years.

"With the market in the US slowing, it is vitally important that US firms broaden their horizons and look overseas for new orders. US Export Council missions like this mean businesses can get in direct contact with potential customers"

According to the World Bank 2009 Outlook, the downturn and financial crisis will exact a toll on growth in the Middle East and North Africa but it will be less dramatic than, for example, in Europe and Central Asia or South Asia, where country exposure and fragility of initial conditions are considerably more pronounced.

"To date, the direct effects of the financial crisis experienced by most developing economies in the region have been relatively mild. Banks and investment companies in the Middle East and North Africa were not large holders of sub-prime mortgage-backed securities, or 'toxic assets," the report said.

It expected real growth in the six-nation Gulf Co-operation Council (GCC) and other countries in the Middle East and North Africa (Mena) to reduce from 5.8 per cent in 2008 to less than four per cent in 2009

Hotels in the Middle East for example, which are slated to open in 2009 and 2010 are on schedule, according to hospitality industry Construction Pipeline Report for the Middle East, Lodging Econometrics (LE), (Global Authority for Hotel Real Estate), said 54 hotels amounting to 15,360 rooms are forecast to come on board in 2009.

The report said: "Dubai contains 31 per cent of all projects and 39 per cent of all rooms in the total Middle East pipeline. If viewed as a 'city state', Dubai would have the largest construction pipeline of any metropolitan area in the world, even larger than Las Vegas, New York, Washington, London, Shanghai, or Beijing

US Companies seeking Export sales opportunities and local Economic Development Leaders seeking Foreign Direct Investment are invited to participate in:

The 4th Annual Connect Forum - US Export Council, Trade and Investment Mission to Dubai and Abu Dhabi, March 17th 2009

For Information http://usexportcouncil.com/forum.html  or call Tel: +1(212) 904-0248

http://www.usexportcouncil.com

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The US Export Council provides assistance to American firms seeking access to international export markets in the Gulf States, Middle East and Africa.