WAM Sharjah, 16 Dec. 2012 (WAM) — Sheikh Sultan bin Ahmed bin Sultan Al Qasimi, Chairman of Sharjah Media Corporation, opened today the US Regional Trade Center (USARTC). Located at the Sharjah Chamber of Commerce and Industry Expo center Complex, it seeks to enable business, trade and cultural understanding between the USA , UAE and greater region, by facilitating service, trade, manufacturing and agricultural export opportunities for US Small and Medium size Enterprises (SME’s) to the region.
The ribbon-cutting ceremony was attended by Ahmed Al Madfa, Chairman of Sharjah Chamber of Commerce and Industry (SCCI), Michael Corbin, US Ambassador to the UAE, Jihad Solaiman, CEO of USARTC, US diplomats and businessmen in UAE and top local officials.
Michael Corbin, US Ambassador to the UAE, told reporters the centre would promote and market American products.
The UAE, he said, had made over the elapsed decades astounding growth to become a regional and international business hub that provides solid, fertile world-class ground for business and investment in infrastructure.
He affirmed the US commitment to support SMEs and entrepreneurs to launch start-ups.
Al Madfa said the centre would provide a fresh valu-added mechanism to push USA-UAE friendly bonds forward.
According to him, two-way trade exchange reached $ 18 billion and is projected to rise to $ 20 billion in two years.
The centre hosts more than 40 US companies showcasing diverse products and services.
The USARTC is a centrally located regional base of operations – a “one-stop shop” for participating US federal and state government representative offices, non-governmental organizations (NGO), non-profit organizations, export loan providers, etc. The USARTC helps US SME’s seeking to do business, those new to exporting and more experienced exporters to the UAE and greater region.
The USARTC is aligned with the stated objectives of President Obama in his National Export Initiative which seeks to double US exports by 2015. According to the National US Arab Chamber of Commerce, by 2013 exports to the MENA region are expected to reach US $1 trillion, sustaining over 1 million jobs.
The USARTC will enhance US companies, and particularly SMEs’ ability to enter and stay in regional markets by providing a cost-effective, centrally located venue with excellent infrastructure and a skilled workforce, to allow federal, state, NGO’s and non-profit services to have a physical presence on the ground co-located with SME’s, and within export markets.