U.S.-U.A.E. Business Council & Embassy of the United Arab Emirates Host ADGM in Washington

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September 20, 2016

The U.S.-U.A.E. Business Council, in partnership with the Embassy of the United Arab Emirates, hosted senior-level delegates from Abu Dhabi Global Market (ADGM) for an afternoon roundtable on Tuesday in Washington D.C on the sidelines of the International Bar Association Annual Conference (IBA). Following welcome remarks from Saud Al Nowais, Commercial Counselor in the Embassy’s Trade & Commercial Office, the luncheon provided public and private-sector stakeholders with a platform to hear from ADGM representatives, Mr. Martin Tidestrom, Ms. Rania Krimeed, and Mr. Mohammad Akmol Ali of the Business Development Team of ADGM’s Registration Authority, and learn more about Abu Dhabi’s commercial and financial ecosystem and the opportunities it provides for accessing markets in the wider Middle East, Africa, and South Asia regions.

Sharing his views of the business landscape of Abu Dhabi, Mr. Dhaher Bin Dhaher, CEO, the Registration Authority of ADGM, has said, “Strategically centered at the heart of the West-East Corridor, the United Arab Emirates (U.A.E.) has been the gateway to the growing economies in MENA, the Indian Subcontinent, Southeast Asia and Greater China. As the capital and seat of government of the U.A.E., Abu Dhabi is the largest of the country’s seven emirates and accounts for two-thirds of its approximately $400 billion economy. Being one of the key commercial and financial hubs in the region, Abu Dhabi is internationally recognised to have one of the most robust and sophisticated financial services sectors with highly capitalized and stable banks, a large concentration of institutional and private wealth and some of the world’s largest Sovereign Wealth Funds.  It is also a key business and trading partner to global powerhouses such as the U.S., India, China and Europe.

ADGM, the new international financial centre (IFC) of the U.A.E., has been established to support the strategic plan of Abu Dhabi Economic Vision as a diversified and sustainable economy. ADGM serves as a catalyst of growth for the financial services sector in Abu Dhabi, and its world-class legal system and conducive business platform have proven to be an attractive base for companies from a wide range of other industries. Since it went fully operational in October 2015, ADGM has steadily and successfully registered close to 150 local and global companies who have made ADGM and Abu Dhabi their hub.

As an IFC, ADGM will continue to provide an attractive and open financial free zone and business environment that enables local and international firms to realise their business strategies, financial ambitions and growth well into the future.

We are glad to have the opportunity to share some of these insights with the US business community.”

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Saud Al Nowais, Commercial Counselor in the Embassy’s Trade & Commercial Office and Mr. Martin Tidestrom, Director, Registration Bureau, of Abu Dhabi Global Market with American and Emirati public and private-sector stakeholders.

Following the ADGM’s session, the floor was opened for a question and answer session with the panel. During the exchange, local executives were given the opportunity to engage the panel in discussions about the commercial feasibility and the benefits of starting up their businesses at ADGM. Topics covered during the Q&A session included:  business opportunities generated by Abu Dhabi’s economic strength, the role of ADGM in facilitating growth as part of the government’s Abu Dhabi’s plan diversifying away from hydrocarbons, and opportunities for doing business in the U.A.E.

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Alexis Serfaty, Vice President of the U.S.-U.A.E. Business Council discussing Abu Dhabi’s business friendly environment, state of the art infrastructure, world-class architecture and increasingly diverse financial services sector.

During the luncheon, Alexis Serfaty, Vice President of the U.S.-U.A.E. Business Council, thanked the honored speakers and the business community for joining the discussion. Private business to business meetings between the delegation members and representatives from local companies were held thereafter.