Continuing its commitment to promoting the investment potential of the Emirate of Sharjah, the Sharjah Investment and Development Authority, Shurooq, has concluded a series of high profile investment meetings with premier U.S. based organisations and institutions which took place during its recent participation as part of a high level delegation to the U.S. led by the U.A.E. Ministry of Economy. The visit included meetings and events in Washington DC, Seattle, San Francisco, and Los Angeles.
The Shurooq delegation was led by Sheikha Bodour bint Sultan Al Qasimi, Chairperson of Shurooq, and included Marwan bin Jassim Al Sarkal, CEO, Saud Meqdad Al Suwaidi, Director of Corporate Services, and Elie Jamil Armaly, Director of Business Development.
Speaking about the U.S. visit, Shurooq CEO, Marwan Al Sarkal, said, "The relationship between the U.S. and Sharjah, which has long been highly mutually beneficial, continues to grow stronger. In the past two years alone, Shurooq has signed Memoranda of Understanding aimed at increasing bilateral cooperation with the National U.S. Arab Chamber of Commerce, the U.S. Chamber of Commerce, the U.S.-U.A.E. Business Council, and the Export-Import Bank of the U.S. (Ex-Im Bank). Shurooq's participation in the Ministry of Economy delegation was an excellent opportunity to further build on this already strong foundation, which was the focus of the range of meetings that the Authority conducted in the U.S..
"There is a great deal of potential for highly mutually beneficial cooperation between Sharjah and U.S. based companies and organisations and we are extremely pleased with the high level of positive feedback and interest that this visit has created," he added.
During their participation in the U.S. visit, Shurooq conducted separate meetings with representatives from a range of companies, organisations, and entities.
U.S.-Sharjah bilateral trade stood at US$5.46 million in exports, US$15.2 million in re-exports, and US$ 726.9 million in 2012 and these figures continue to grow. In 2013, U.S.-U.A.E. bilateral trade amounted to US$2.3 billion in exports and US$24.5 billion in imports. These figures are projected to increase markedly, as evident from the results of the first two months of 2014 which show US$408 million in exports and US$3.5 billion in imports.