ABF I.D.E.A.S. 2014 Press Release

FOR IMMEDIATE RELEASE Contact: Laura Goodnight Company Name: American Business Council of Dubai & the Northern Emirates Tel: 04.379.1414 Email: communications@abcdubai.com Website: www.abcdubai.com

American Business Council Hosts 3rd Annual American Business Forum, I.D.E.A.S. DUBAI – OCTOBER 29, 2014 The American Business Council of Dubai & the Northern Emirates (ABC) brought together business leaders from the U.S. and the U.A.E. to participate in the third annual American Business Forum, I.D.E.A.S. (I.D.E.A.S.), designed to Identify Define Execute Analyze and Strengthen regional business opportunities, on Tuesday, October 28, 2014.

I.D.E.A.S. challenged leaders to think critically about the American competitive advantage in the Middle East and how to leverage the U.S.-U.A.E. bilateral trade relationship. Business leaders were able to capture these insights to aid their own organizations and harness potential synergies going forward. Moderated by Antonio Carvalho, Partner at Oliver Wyman, the executive panelists’ dialogue covered a range of topics including: utilizing Dubai as a hub; planning for regional security and health concerns; preparing for EXPO 2020; and examining diversity and inclusion. The panel cited many factors that contributed to their accomplishments, such as how the U.A.E. has employed farsighted leadership that is open to working with international companies and is committed to infrastructure and the best technology, evidenced through its Smart City vision and commitment to the space program. The distinguished panel included: Jeffrey L. Johnson, President of Boeing Middle East; Nenad Pacek, Co-founder of CEEMEA Business Group; Timothy J. Richards, Managing Director, Government Affairs & Policy, at

General Electric; Paul L. Smith, Corporate Vice President, MEA at Emerson; and Maurice Williams, President & Managing Director of General Motors Middle East Operations.

Nenad Pacek, Co-founder of CEEMEA Business Group; Timothy J. Richards, Managing Director, Government Affairs & Policy, at General Electric; Jeffrey L. Johnson, President of Boeing Middle East; Ramsey Jurdi, President of the American Business Council and International Partner at Chadbourne & Parke; Paul L. Smith, Corporate Vice President, MEA at Emerson; Antonio Carvalho, Partner at Oliver Wyman; and Maurice Williams, President & Managing Director of General Motors Middle East Operations.

During the keynote address presented by Nenad Pacek, Co-founder of CEEMEA Business Group, Mr. Pacek examined the future of business in the Middle East and Africa region, and what companies need to do to outperform competition in the coming years. He also provided an economic, business, and political outlook per market for the whole area. Mr. Pacek briefly talked about the global business and economic environment and how this might impact business operations in this region. Furthermore, he highlighted which issues regional directors are struggling with at the moment and offered some best practices for how to handle those challenges.

I.D.E.A.S. sought answers to critical business issues in support of the ongoing Economic Policy Dialogue (EPD) between the U.S. and the U.A.E., which served as the inspiration for the forum.

Since March 2012, the EPD has served as a government to government umbrella for new and ongoing initiatives that are aimed at deepening economic and commercial ties between the U.A.E. and U.S. Given the close relationship between the U.S. and the U.A.E., reinforcing the bond between the two countries is a priority, both economically and politically. The U.A.E. was the 17th largest export destination for U.S. goods worldwide, and the bilateral trade balance stands at $22.30 billion as of 2013, making the U.A.E. the largest trading partner regionally with the U.S. American businesses continue to capitalize on this momentum while continuing to

strengthen Dubai’s economy. Ramsey Jurdi, President of the American Business Council and International Partner at Chadbourne & Parke stated: “With the recent upgrade in the competitiveness ranking of the U.A.E. in the World Economic Forum Global Competitiveness Report from 19 to 12, it is no surprise that American businesses have chosen the U.A.E. as their hub. American businesses continue to pick the U.A.E. because of exactly the same factors that Davos considers, such as infrastructure, macroeconomic stability, and a capable workforce. U.S.U.A.E. bilateral trade outpaces that of much bigger economies in the region, precisely because of the competitive and stable economic environment in the U.A.E. The U.A.E. remains extremely well positioned for American businesses.�

About the American Business Council The American Business Council of Dubai & the Northern Emirates operates under the auspices of the Dubai Chamber of Commerce & Industry and functions as a Chapter of the U.S. Chamber of Commerce. Since its founding in 1985, the American Business Council has supported U.S. business interests in Dubai & the Northern Emirates and acts as a liaison between government and commercial enterprises.

The American Business Council is a 500 plus member-driven organization. Fortune 500 companies and key business leaders are well represented among the members of the American Business Council. The American Business Council provides a forum for understanding and interaction between the local business community and members of the American Business Council. Members are supported through a robust calendar of informational programs, roundtable discussions, and business networking opportunities.

For more information about the American Business Council and to learn how members are engaged, visit us at www.abcdubai.com. ###