The U.S.-U.A.E. Business Council hosted United States Treasury Secretary, Timothy Geithner for a breakfast policy discussion at the Emirates Palace Hotel in Abu Dhabi on July 14th. The meeting attracted a dozen leaders from the U.A.E.'s business and education sectors, including the U.A.E. Minister of Foreign Trade, H.E. Sheikha Lubna Al Qasimi, and Chairman of the Masdar Initiative, H.E. Ahmed Al Sayegh. H.E. Sheikha Lubna introduced Secretary Geithner to the assembled private and public sector officials.

Treasury Secretary Geithner and Minister of Foreign Trade H.E. Sheikha Lubna stressed their commitments to post-crisis economic reforms that would lead to more diversified economies. The discussion also focused on education and highlighted the importance of education policy to boost global economic growth. Treasury Secretary Geithner explained, "Just one month ago, President Obama reminded us that we must recognize that education and innovation will be the currency of the 21st century." A key aim of Mr. Geithner's trip is to reassure key partners and friends in the region that the U.S. and global economies are on track toward recovery. The U.S. views the U.A.E. as a central player in global financial markets. The U.A.E. is one of the largest buyers of American treasuries and securities.

Even in the current business climate, key investment institutions in the U.A.E. view the U.S. as the world's most important economy, and will continue to invest in American companies, sustaining thousands of U.S. jobs. More good news for jobs was received today when during a policy lunch at the Chamber the U.A.E. Embassy Commercial Counselor Saud Al-Nowais announced the opening of the new Embassy Trade Office in September 2009.  

Al Nowais mapped out his strategy for the trade office, explaining that it will have nine staff members who will fan out to focus on energy, banking, defense, infrastructure, and education.  He also explained the commercial benefits of the U.S.-U.A.E. Civil Nuclear Energy 123 Agreement and separately, the multi-billion dollar Masdar green energy initiative.