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<http://www.uaeinteract.com/images/6_=ullet.gif> UAE banksa€=E2 deposits up by Dh67b
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Natural histo=y of the UAE, covering all animals and plants recorded in the Emirates.
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Offset Pr=gram Bureau holds event in Washington to discuss new policy and engage with=business executives
from U.S. companies
posted on 07/111=010
<http://www.uaeinteract.com/news/=rticle_pics/43242.jpg> Washing=on, D.C. - Under the patronage of Yousef
Al Otaiba, UAE Ambassador to the U=A, the UAE Embassy hosted a presentation, discussion, and dinner with a
del=gation from the Offset Program Bureau (OPB) of the United Arab Emirates (UA=), led by Saif Al Hajeri, the CEO.
Executives from US companies with curren= and potential offset obligations in the UAE and who have interests in
defe=ce contracting, technology transfer, and training opportunities in the UAE a=tended the meeting.
Ambassador Al Otaiba, and Commercial Counsello= Saud Al Nowais welcomed the group and provided opening
remarks. In his rem=rks Al Otaiba stated: "Since its establishment in 1992, the UAE Offset Prog=am has been
contributing vehemently in generating huge economic and commerc=al value for the UAE and several successful and
unique joint projects - mos=ly with US companies - had been set up under the umbrella of the UAE Offset=Program".
Al Hajeri then addressed the audience and emphasised the=new policy's focus on flexibility, ease of project
implementation and more i=volvement by defence contractors in the UAE.
"If I was asked to id=ntify the single most important characteristic of the new policy, I would s=y without
hesitation its flexibility," said Al Hajeri.
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"Under the n=w policy," he continued, "the defence contractors have more flexibility in s=lecting the right mix of
credit contribution with the adoption of a hybrid i=put and output model that enables defence contractors to utilise
their exis=ing strength and initial contributions." This past June, the OPB announced i= Paris an overhaul in its policy,
involving more contribution by defence co=tractors to the domestic economy with the aim of supporting sustainable
gro=th.
Al Hajeri also mentioned that the offset policy was aligned wi=h the government's long-term economic vision
and "ambitious strategic" plan= for comprehensive and sustainable economic and social development that ent=ils "more
focused efforts towards diversified and knowledge-driven economy,=industrial partnerships, capacity building,
technology and knowledge transf=r and creation of jobs for the UAE citizens".
He also praised the g=owing cooperation between the United States and the United Arab Emirates in=all
domains. "I believe we have a historic opportunity to promote and broad=n our strategic partnership by accelerating our
commercial cooperation, joi=t investments and exchange of technology, expertise and best practices." Th= delegation
presented an overview of the new policy and followed the presen=ations by a detailed Q'&'A panel discussion. The panel
clarified variou= issues and concerns as well as highlighted their intent to focus on and in=est in skilled and dedicated
people, leading-edge science and technology an=, above all, a healthy, sustainable, and efficient industrial base,
capable=of delivering the national goals.
The OPB delegation also visited t=e Association of the United States Army's (AUSA) Annual Meeting '&1
Exp=sition.
This visit to the US comes after the National Defence Indu=trial Association (NDIA) and the US-UAE Business
Council's "Aerospace '&=' Defence Trade Mission to the UAE," which was supported by the UAE Embassy=Trade '&1
Commercial Office and the US Embassy's Commercial Service in A=u Dhabi took place earlier this month. The trade
mission's program included=briefings and site visits with various stakeholders in the UAE. a =AC" Emirates News Agency,
WAM
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