DEC builds Strategic Partnerships with US

As part of its vision of being a strategic partner to the Government of Dubai in economic policy-making, the Dubai Economic Council (DEC) conducted a visit to the United States, recently. The DEC delegation, led by the Secretary General, Hani Al Hamli, visited various international law and financial development institutions and policy making centers in the US.

The Secretary General stated that the main aim of this visit was to anchor strategic partnerships and cooperation with a number of decision making networks and international organizations in the US to improve the economic ties between UAE and the US.

The DEC delegation visit was initiated with the Commercial Law Development Program (CLDP), where the Secretary General singed a Letter of Intent with Mr. Stephen Gardner, CLDP Chief Counsel. During the signing ceremony, the Secretary General praised the significant cooperation made by CLDP with the DEC in revising a number of federal and local commercial law drafts with the aim of strengthening legal infrastructure of the UAE economy. Al Hamli stressed the necessity of initiating an action plan to translate the agreement between the two parties into practical steps.

Established in 1992, CLDP is a division of the U.S. Department of Commerce that helps achieves U.S. foreign policy goals in developing commercial legal reforms in post-conflict countries. CLDP's unique, government-to-government technical assistance draws upon highly-experienced regulators, judges, policymakers, business leaders and attorneys from both the public and private sectors to deliver results that make meaningful and lasting changes to the legal and judicial environments of our host countries.

The DEC delegations' visit also included the Exim Bank of the United States (EX-IM); Mr. Al Hamli met with Hon. Fred Hochberg, President of bank. In their meeting both sides discussed setting up strategic partnerships. Worth noting, the DEC has hosted "Commercial Financing Dialogue" in May 2010 about the commercial financing that US financial institutions could provide to the business sector in Dubai to enhance the trade relations between Dubai and the USA. The event was attended by representatives of the US Consul General in Dubai, U.S. Exim Bank, in addition to representatives of a number of US and global banks, such as JP Morgan Stanley, Citibank, Standard Chartered, Deutsch Bank, Barclays bank, and Credit Agricole.

The DECs delegation also visited US Dept. of Commerce for International Trade. At the meeting the delegation met with Mr. Francisco Sanchez, U.S. Under Secretary of Commerce for International Trade U.S. Department of Commerce International Trade Administration. to establish a business partnership between both DEC and US Dept. of Commerce for International Trade in a variety of areas.

Al Hamli also met with Mr. Danny Sebright, President of the U.S. -U.A.E. Business Council at the Council's office. The meeting discussions included establishing a business Partnership between the two councils. The DEC delegation also visited Latham '&' Watkins LLP (L'&'W) headquarters, where Al Hamli met with Mr. David S. Dantzic, Partner in the Washington, D.C.

The meeting focused on the ways to improve the relations between DEC and L'&'W in legal consultation. With the onset of the meeting, Al Hamli praised the generous support of L'&'W to the Council in organizing the DEC forthcoming global policy conference "Towards a Legal Regulation of Financial Restructuring and Bankruptcy for Sustainable Economic Development" that will take place on 14-15 May, 2012.

At the IMF offices the DEC delegation met with Mr. Sean Hagan, General Counsel and Director of the Legal Department. At the meeting both parties discussed scope of collaboration from a legal perspective. At the UAE Embassy in Washington DC, Al Hamli met with UAE Ambassador to the United States Yousef Al Otaiba, who commended the vital role the DED is playing in proposing economic policies that boost economic development in Emirate of Dubai and UAE. The DEC delegation also met Omar Obaid Al Shamsi, Minister Plenipotentiary, Head of the Administrative and Finance Department. Al Hamli praised the tangible cooperation made by the Embassy in terms of logistic facilitation to the DEC delegation. He also commended the quality services the Embassy provides to UAE nationals in the US whether businessmen or students. At the end of the meeting, Al Hamli presented a number of DEC publications to the Embassy.