Fourth Quarter 2016

ABC DUBAI NEWSLETTER

AMERICAN BUSINESS COUNCIL

OF DUBAI & THE NORTHERN EMIRATESAffiliate, U.S. Chamber of Commerce

ABOUT ABC DUBAI

The American Business Council of Dubai & the

Northern Emirates (ABC Dubai), the first

bilateral trade organization established in the

UAE, operates under the local patronage of

the Dubai Chamber of Commerce and

Industry.

ABC Dubai represents corporate and

individual members with business interests

across the Middle East and functions as an

official international chapter of the US

Chamber of Commerce.

The organization’s membership is comprised

of American Fortune 500 companies, SMEs,

large and small UAE organizations, and

professionals from all sectors of business and

industry – all accepted after review of

eligibility based upon our membership

qualification criteria.

ABC Dubai maintains strong ties with local

and international, public and private sector

leaders, providing a wide range of services

and organizing events and business advocacy

efforts on behalf of its members.

CONTACT INFORMATION:Phone: +971 4 379 1414PO Box 74648Dubai, United Arab Emirateswww.abcdubai.com

Bilal SabouniCEOdirector@abcdubai.com

Helena HydePrograms Managerevents@abcdubai.com

Julia DenisCommunications Managerjulia.denis@abcdubai.com

Maiyar Mina JreissatiMarketing Managermaiyar.mina@abcdubai.com

Lauren OldhamMembership Administratormembership@abcdubai.com

Valerie BradleyEngagement Managervalerie.bradley@abcdubai.com

Lilibeth DelatinaAdministrative Coordinatoradmin@abcdubai.com

TABLE OF CONTENTS

MESSAGE FROM THE CEO

ANNOUNCEMENTS

2017 Board Officers and Members

GET TO KNOW Suzanne Ries

NEWS

UAE Economic and Financial News

UAE Public/Private Sector News

UAE Legislation

New US Administration

US Economic & Tax News

A QUARTER IN REVIEW

Get Global

A New world of wines

Mayor of Denver Trade Mission Breakfast Briefing

Global Trade Development Week

US Consulate General Section Chiefs Briefing and GM

US General Election Result Breakfast

Governor of Missouri Trade Visit / Roundtable Discussion

ABC Dubai Inaugural Thanksgiving Dinner

A Conversation with Deborah Rosado Shaw

Christmas in the Desert

RAK Finance & Investment Forum

UPCOMING EVENTS

MEMBERSHIP REWARDS PROGRAM

PREMIER CLUB MEMBERS

MESSAGE FROM THE CEODear ABC Dubai Members, Partners andFriends,

On behalf of the American Business Councilof Dubai & the Northern Emirates (ABCDubai), I would like to wish you and yourfamilies a happy, healthy and prosperousNew Year. As we look forward to an exciting2017, let us take a moment to look back atthe accomplishments of not only the 4thQuarter of 2016, but also 2016 in its entirety.

It was an eventful year, thanks in large partto the valued contributions and steadfastsupport of our esteemed members,stakeholders, and the governments of boththe US and the UAE. In collaboration withour partners, ABC Dubai has driven newinitiatives to strengthen the US-UAE traderelationship, advocate for US business in theregion, actively cultivate and facilitate aculture of knowledge sharing, and continueto offer exceptional value to our members.

2016 witnessed the beginning of a new momentum for ABC Dubai, a process of growth and changeenabling us to reach new levels of service and offering. Indeed, ABC Dubai has come a long waysince it was established as the first bilateral trade organization in the UAE more than 30 years ago.Here are some of the past year’s highlights:

Early in the year, ABC Dubai created the position of Chief Executive Officer which I am now proud toserve. We have begun to roll out new initiatives to promote both the US business community andthe UAE as the regions’ single-largest market for US trade and investment. These initiatives includepartnering with key UAE government and private-sector leaders in taking our message directly tothe US in roadshows such as GetGlobal, engaging our members in knowledge-sharing conferencesaddressing timely and relevant topics, promoting our key members, partners & sponsors in socialmedia campaigns, among many other activities.

The position of Engagement Manager was created this year in a move to further solidify ABCDubai’s ties with the wider community and broaden opportunities to engage with our keystakeholders. Membership has remained steady and we have introduced several new memberbenefits for added value in 2017.

Marketing and Communications Managers were hired to bring their experience to ABC Dubai’sgrowth strategy, proactively multiplying social and traditional media exposure opportunities andlaying down the foundation for a new brand image and more user-friendly website to be revealedshortly. ABC Dubai’s website, communications outreach and social media platforms will serve notonly to raise the Council’s public profile, but also that of its members.

Continued…

Innovative changes in our programming have increased the relevance and menu of options for our

members. ABC Dubai continued to serve as a catalyst for knowledge-sharing and high-value

community-building and networking opportunities. Our first annual Thanksgiving dinner in the

presence of HE Sheikh Nahayan bin Mabarak Al Nahayan and other distinguished guests was

undoubtedly one of 2016’s highlights.

In another first, ABC Dubai established a Voter Registration center to help US citizens participate in

the US Election voting process. Americans were able to register to obtain their ballots and vote in the

2016 General Election via the ABC Dubai Office. In the months running up to November election, ABC

Dubai assisted a steady stream of Americans in requesting and returning their absentee ballots. Our

efforts culminated in uniting more than 100 Americans & friends at a US election breakfast watching

live coverage of the results.

Looking back at the milestones we have reached with your support, we are confident that your

continued involvement with ABC Dubai will be even more rewarding in 2017 as we build on the

strength of our achievements to meet and exceed your expectations. We welcome your ideas and

suggestions on how we can further strengthen our services to meet any specific needs.

With a positive economic outlook for 2017 and many new initiatives on the radar such as an

invigorated Member Rewards Program (MRP) to offer discounts and promotions to ABC Dubai

members, 2017 promises to be an exciting time as we forge ahead with direction and purpose

together, with an eye to the future.

Finally, if you haven’t done so already, this is a reminder to renew your membership at your earliest

convenience. Doing so will ensure you remain on our mailing list and continue to receive our updates

and notices.

I look forward to seeing you at future events in order to extend my best wishes to you all in person.

Until then, I hope you enjoy this “year in review” newsletter.

Bilal Sabouni

2017 BOARD MEMBERSCongratulations to the newly-elected members of our 2017 Board. On behalf of the US business

community in Dubai and the Northern Emirates, we thank them for the time and energy they invest in

helping to strengthen our community and trade relations with our esteemed host country.

BOARD OFFICERS:

Ramsey JurdiPresident

Mohamad ItaniExecutive VP

Sammy BousabaVP Membership

Suzanne RiesVP Programs

Charlie DaalderVP Legal Affairs & Secretary

Nabil Al OufVP Financial Affairs

& Treasurer

GENERAL BOARD MEMBERS

Janet Gibbons Sura Al Alawi Edgars Karklins Andrew White

EX OFFICIO BOARD MEMBERS

Nasir AbbasiCommercial Attaché

US Consulate in Dubai

Bilal SabouniCEO

ABC Dubai

John PodgoreImmediate Past President

ABC Dubai

GET TO KNOW …

SUZANNE RIESSuzanne Ries, Online Store Manager,

Microsoft, and VP of Programs, ABC Dubai,

reveals a more personal side, sharing some

of her insights and aspirations.

ABC: What is the best advice you have everreceived?SR: My grandpa told me to be honest, kindand generous. As simple as these threewords are, they are so relevant in anyapplication and I try and live by theseprinciples daily.

ABC: If you could learn to speak anotherlanguage fluently overnight, which would itbe?SR: Italian! I love it! It sounds like singingwhen they speak.

ABC: What is your favorite book of 2016?SR: I recently read two great books. The firstis called “Grit the Power of Passion andPerseverance”. Many of us think we aregritty but after reading this book you’ll learnyou might not be as gritty as youthought. It’s an amazing book whichexplains and teaches how we can create gritand how to focus on a long-term goal andachieve it. The second book I read reallycompliments the first as it’s a perfectexample of grit, and is called “ShoeDog”. It’s the memoir of Phil Knight, thefounder of Nike. Read it!

American Business Council of Dubai & the

Northern Emirates (ABC): Which living

person do you most admire and why?

Suzanne Ries (SR): Jimmy Carter. At 92, he is

working harder than ever. Besides

dedicating his life to human rights, he is an

inspiring leader.

ABC: What was your best moment in 2016?

SR: When I got to marry my best friend!

ABC: What is your greatest extravagance orguilty pleasure?SR: I rarely have the time, but sweatpants,Netflix binge, and pizza and ice cream….

ABC: Who has most inspired or motivated you?SR: My momma! She’s been my # 1 fan my entirelife and has sacrificed so much for me. I workhard every day of my life to make her proud.

ABC: Which historical figure do you most admire?SR: Hillary Rodham Clinton. She has handledherself in the most respectful mannerthroughout her place in the public eye, from thescandal with her husband to the most recentpresidential campaign. I admire her grit andtenacity.

ABC: What do you consider to be the best motto,expression or words to live by?SR: Your greatness is not in what you have, it’s inwhat you give.

ABC: What is your favorite piece of uselessinformation?SR: A giraffe can clean its ears with its tongue.

NEWS REVIEW

UAE ECONOMIC & FINANCIAL NEWS

In October, HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice-President and Prime Minister of theUAE and Ruler of Dubai, announced that 62% of the UAE’s National Performance Indicators, abenchmark of growth objectives, have been achieved and that he plans to ensure personally thatthe remaining 38% of indicators are met by 2021. Sheikh Mohammed issued a directive in October toform National Agenda Execution Teams comprised of 550 officials from all government sectorstasked with achieving these “historic goals” over the next five years.

UAE GDP AND NATIONAL AGENDA EXECUTION TEAMS

Thanks to the UAE’s diversificationstrategy, a pillar of the economy’sresilience against a downturn with a drop inoil prices, the country’s economy hasdoubled in a decade, with GDP climbingfrom $180.5 billion to $370 billion. The GDPgrowth rate is expected to accelerate to3.4% this year from an estimated 3% in 2016.

UAE 2021 VISION

The UAE’s national agenda, UAE 2021 Vision, sets forth a number of goals based upon the themes of

United in Ambition, United in Destiny, United in Knowledge and United in Prosperity. A new

mechanism to accelerate the governmental decision-making process, the “government

accelerator”, has been introduced by HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice president

of the UAE and Prime Minister of Dubai, to ensure that these goals meet their target deadlines. The

introduction of a Ministry of Happiness and Ministry of Culture and Knowledge Development are

part of this agenda.

VAT PROCEDURES

The Ministry of Finance is expected to announceshortly the official procedures to manage theintroduction of a 5% value-added tax (VAT), ahead of apush by Gulf Arab states to implement the revenue-generating taxation scheme by 2018. The tax isexpected to yield Dh20 billion in the first year.

While all businesses will need to record and report their financial transactions, only those which

meet a certain minimum annual turnover requirement will have to register for the VAT. Registered

businesses will be able to file their returns online, according to the UAE Ministry of Finance. To learn

how you can prepare your business for the VAT, avoid costly penalties and gain insights from tax

leaders such as KPMG and Deloitte and finance heads from other leading companies in the region,

keep an eye out for ABC Dubai’s next VAT Seminar later in the year.

The Federal National Council (FNC) approved the federal budget for 2017 on December 20.Expenditure for the year is estimated at Dh48.7 billion and revenue at Dh47.7 billion. Projects in thebudget will not rely on new taxes or fees and are not expected to be affected by fluctuations inglobal oil prices.

UAE 2017 Federal Budget

The plan to transform Dubai into the global capital ofIslamic economy before 2021 is on track, according to HHSheikh Hamdan bin Mohammed bin Rashid Al Maktoum,Crown Prince of Dubai and Chairman of Dubai ExecutiveCouncil. Dubai launched the first Islamic financial market inthe world and the growth of the Islamic economy isaccelerating to become one of Dubai’s principle tools tostimulate investment and boost both public and privatesector growth. For more insights on this important subject,be sure to attend ABC Dubai’s February 22 event on Dubai’sIslamic Economy.

UAE PUBLIC/PRIVATE SECTOR NEWS

DUBAI, CAPITAL OF THE ISLAMIC ECONOMY

The UAE Ministry of Economy has set up a new legal system for venture capital (VC) funds topromote competitiveness of SMEs and strengthen the country’s position in the internationalinnovation index ranking. The system is expected to benefit businesses in innovation andtechnology-based areas. VC funds with assets under management exceeding $49 million must issuean annual report, appoint a risk management officer and ensure exposure to risk does not exceedthe fund’s net value. VC funds managing less than $49 million in assets need to meet the samerequirements, with the exception of appointing a risk management officer. Dubai SME, the agencyof the Department of Economic Development mandated to develop the small and mediumenterprise sector, will be teaming up with Dubai First, one of the UAE’s leading consumer financecompanies, to facilitate SME access to collateral-free funding and enable them to meet their capitalrequirements.

SME FUNDING

In order to win industries of the future, Dubai ispositioning itself on the cutting edge of innovation inbusiness, science and public spending with anaccelerator program that aims to draw 30 of the beststartups from around the world to the city to tacklethe most important public problems. The Dubai FutureAccelerators program earmarks a $275 million fund forinvestment in startups such one of ABC Dubai’snewest members Hyperloop One which recently

DUBAI FUTURE ACCELERATORS

moved its headquarters from California to Dubai and will address mass transit problems. In addition,Dubai is awarding $30 million in government contracts to startups which promise solutions for thepublic good in areas such as health, transportation, immigration and law enforcement.

While we’re on the subject of law enforcement, DubaiPolice is set to put its first robot into service this year,according to Dubai Media Office’s announcement at theannual GITEX Technology Week. Just how robots andartificial intelligence will contribute to the city’s publicsafety efforts remains to be seen. If an earlier high-techmove to use Google Glass to issue fines as soon as thattechnology became available is any indication, the rapiddeployment of “transformative technologies” across thecity may set a standard.

The Emirates Nuclear Energy Corporation (ENEC) has announced 75% completion of constructionon four units of the Barakah Nuclear Energy Plant, built in partnership with Korean Electric PowerCorporation. The plant’s four reactors are scheduled to go online in 2020 and will deliver up to 25%of the UAE’s electricity needs, thereby reducing annual carbon emissions by 12 million tons.

UAE NUCLEAR POWER

POLICE ROBOT

Gender equality is fast becoming a reality in the UAE, according to HH Sheika Lubna Al Qasimi,Minister of State for Tolerance speaking at the Investing in the Future Conference in Sharjah inOctober. Her statement “In the UAE we’re going beyond empowering women to empoweringsociety through women” received widespread attention. She emphasized that investing in thefuture means investing in the potential of all citizens, adding that both women and men play animportant role in stimulating economic growth and political stability. She pointed out that womennow account for two-thirds of the UAE’s workforce, controlling wealth worth Dh12 billion. All boardsof UAE government organizations are required to have one or more female representatives. Keep aneye on our calendar for details on ABC Dubai’s Women’s Leadership Forum, to be held in Dubai laterin the year.

GENDER EQUALITY

Medical tourism, mandatory health insurance and increasedhealthcare expenditure are driving growth for the UAE’spharmaceutical market. The sector’s revenue is projected to grow13% annually to reach $5.7 billion by 2020. The UAE is gainingpopularity as a medical tourism destination due to its relativelycontrolled costs, English-speaking medical staff, and virtually nowait-time for treatment. The Dubai Health Authority alsohighlights a stable environment and sunny climate to attract 1.3million medical tourists annually by 2021. The establishment ofDubai Healthcare City and Science Park free zones allowing for taxexemption and foreign ownership is largely responsible for thedevelopment of medical tourism alongside a wide range of othermedical services

MEDICAL TOURISM

In a move to boost investors’ confidence, the UAE Ministryof Economy has approved a bill which will allow companies100% foreign equity ownership in certain sectors. If passedby the UAE Cabinet and the Federal National Council (FNC),the UAE Investment law will give a boost to foreign directinvestment in many sectors. US firms, in particular, will be

UAE INVESTMENT LAW

A 22-article legislative proposal aimed atcombating harmful practices in internationaltrade which would damage UAE nationalindustries such as steel is now under review bythe Federal National Council. If ratified, measuresto promote fair competition betweendomestically-made products and imported low-priced goods that “unfairly” benefit from thesupport of foreign states will be implemented.Specific measures include imposing anti-dumpingand customs duties on certain imports from

able to enjoy investment opportunities in industries such as defense, media, telecom, education,tourism, renewable energy, transportation and financial services, according to Abdullah Al Saleh,Undersecretary for Foreign Trade and Industry. Under current legislation, foreigners cannot ownmore than 49% in any UAE firm unless they are operating under narrow and specific businessactivities or incorporated in a free zone.

UAE LEGISLATION

ANTI-DUMPING BILL

countries such as China, India and Turkey. The US International Trade Commission said it was takingmeasures against UAE, Oman and Pakistan in relation to circular welded steel pipes after a DOCinvestigation found them to be sold for less than fair value. Chinese steel producers, however,account for half of worldwide steel supply, sparking complaints by both the US and the UAE

A new Anti-Fraud Law has replaced the UAE’sCommercial Fraud Law in an effort to enhanceenforcement of existing intellectual property rights(IPR) and impose tougher penalties oncounterfeiters. The new law makes it an offense topossess counterfeits, even where the IPR holder isunable to prove the counterfeiter’s intent to sell. AFederal committee will use sweeping powers toclose down offending offshore or onshorebusinesses and refer them to the courts which can

impose a fine of as much as Dh1 million and a jail term of up to two years, with maximum penaltiesreserved for pharmaceutical and food products.

NEW ANTI-FRAUD LAW

While confirmation hearings are still underway for most of US President Donald Trump’s cabinetand administration appointments, below is a list of Trump’s picks for top jobs in his administration:

NEW US ADMINISTRATION

New Anti-Fraud Law

Secretary of State Rex Tillerson

Treasury Secretary Steven Mnuchin

Defense Secretary James Mattis

US Attorney General Jeff Sessions

Interior Secretary Ryan Zinke

Commerce Secretary Wilbur Ross

US Trade Representative Robert Lighthizer

Labor Secretary Andrew Puzder

Health and Human Services Secretary Tom Price

Housing and Urban Development Secretary Ben Carson

Transportation Secretary Elaine Chao

Energy Secretary Rick Perry

Education Secretary Betsy Davos

Agricultural Secretary Sonny Perdue

White House Chief of Staff* Reince Priebus

Environmental Protection Agency Administrator Scott Pruitt

Office of Management and Budget Mick Mulvaney

US Ambassador to the United Nations Nikki Haley

Small Business Administration Administrator Linda McMahon

Director of National Intelligence Dan Coats

CIA Director: Mike Pompeo

National Security Advisor* Michael Flynn

Homeland Security Secretary Thomas Bossert

US Securities and Exchange Commission Walter “Jay” Clayton

White House Homeland Security Advisor Tom Bossert

National Economic Council Director Gary Cohn

Small Business Linda McMahon

National Trade Council Director Peter Navarro

Secretary of the Army Vincent Viola

Secretary of Veterans Affairs David Shulkin

Chief White House Strategist, Senior Counselor* Steve Bannon

Senior Advisor* Jared Kushner

Counselor* Kellyane Conway

Regulatory Czar* Carl Icahn

Trade Czar* Peter Navarro

White House Counsel* Donald McGahn

Press Secretary* Sean Spicer

*Do not require Senate confirmation

• US Secretary of State Rex Tillerson – Tillerson, 64, has spent his entire career at Exxon MobileCorp, where he rose to Chairman and Chief Executive Officer in 2006. A civil engineer by training,the Texan joined the world’s largest energy company in 1975. As Exxon chief, he maintained closeties with Moscow and opposed US sanctions against Russia.

• US Trade Representative Robert Lighthizer – Lighthizer served as Deputy US Trade Representativeduring the Reagan administration and has since spent nearly 3 decades as a lawyer representing UScompanies in anti-dumping and anti-subsidy cases. A critic of China’s trade practices, Lighthizeradvocates for a more aggressive approach with the Asian country.

• US Commerce Secretary Wilbur Ross – Ross, 79, heads an eponymous private equity firm andForbes has pegged his net worth at about $2.9 billion. A staunch supporter of Trump, Ross helpedshape the campaign’s trade policy, blaming US factory job losses on the North American Free TradeAgreement (NAFTA) with Canada and Mexico.

• Treasury Secretary Steven Mnuchin – Mnuchin, 54, is a private equity investor, hedge fundmanager and Hollywood financier who spent 17 years at Goldman Sachs before leaving in 2002. Heled investors to buy a failed California mortgage lender and built it into Southern California’s largestbank. The bank subsequently faced criticism for its foreclosure practices.

• Senior Advisor to the President on Middle East Policy Jared Kushner – Kushner, 36, is a real estatespeculator and publisher. According to his own paper, The New York Observer, he intends to resignfrom his family’s real estate company and divest his assets in order to accept the position whichwill not be remunerated with public funds. As Trump’s son-in-law, he will also have to navigate a USanti-nepotism law. While he has experience with campaign strategy and is trusted by the newPresident, he is said to lack experience for a Middle East role.

SPOTLIGHT ON OFFICES OF PARTICULAR RELEVANCE TO AMERICANS ABROAD:

US ECONOMIC TAX NEWS

The UAE’s Ministry of Finance (MOF) has establishedcommittees to collect tax data on US citizens living inthe UAE, as required under provisions of the ForeignAccount Tax Compliance Act (FATCA), a US federal lawthat aims to combat offshore tax evasion by USpersons. The UAE joined the Global Forum onTransparency and Exchange of Information for TaxPurposes in 2010. In compliance with the FinancialIndustry Regulatory Authority’s (FINRA) reporting

UAE TO COLLECT TAX DATA ON US CITIZENS

obligations, the MOF is working to sign a memorandum of understanding with relevant authoritiesto oblige financial institutions to submit reports to the ministry to begin collecting data this year,with the exchange of information with US tax authorities set to begin in 2018. For more informationon this and other tax-related matters, be sure to attend ABC Dubai’s next US Tax Talk.

THE QUARTER IN REVIEW

OCTOBER 2016

In line with ABC Dubai's mission to continually strengthen the US-UAE trade relationship, ABC Dubaipartnered with key UAE government and industry leaders to promote the UAE as the foremost MiddleEast business hub for American companies looking to expand in the region at the October 20 GetGlobalgrowth conference at the JW Marriott hotel in Los Angeles.

GetGlobal is an interactive forum designed to help American SMEs succeed in foreign markets byempowering them with the knowledge needed to make well-informed decisions. Rather than wait forexecutives of American SMEs to reach out to them, CEO of ABC Dubai, Bilal Sabouni, and delegationsfrom Dubai Airport Freezone and TECOM proactively engaged with US companies at the source, in LA.

Dr. Mohammed Al Zarooni, Director General of DAFZA headed his delegation while Mr. Majed AlSuwaidi, Managing Director at Tecom Group (Dubai Media City, Dubai Studio City and Dubai ProductionCity) led his.

In his opening address of the UAE Supersession, Sabouni provided a historical perspective to thecreation and growth of the UAE. The ensuing panel discussion with Mr. Al Suwaidi addressed theadvantages of the free zone landscape for foreign business and investment of SMEs, particularly inDubai which positions itself as a global hub for trade through key initiatives for investment &innovation.

20.10-21.10 GETGLOBAL (SUPPORTED EVENT IN LOS ANGELES)

ABC Dubai joined forces with the Australian andSouth African Business Councils for an eveningof Intercouncil networking which featured asampling of fine wines from the three countries,at the Pure Sky Lounge of Hilton JBR, Dubai.

Members & friends of the three councils had anopportunity to exchange over lightrefreshments in the lounge or on the rooftopterrace and participate in a drawing for threedifferent prizes, with one lucky winneraccepting the grand prize of 2 tickets to theworld-renowned musical Cats at Dubai OperaHouse.

24.10 A NEW WORLD OF WINES

(INTERCOUNCIL NETWORKING WITH AUSTRALIAN AND SOUTH AFRICAN BUSINESS COUNCILS)

26.10 MAYOR OF DENVER TRADE MISSION BREAKFAST BRIEFING

ABC Dubai hosted a breakfast briefing in honorof Denver Mayor Michael B. Hancock with ahigh-ranking delegation from government,private sector and educational institutions atThe Palace Downtown, Dubai.

Mayor Hancock, Richard Scharf, President andCEO of Visit Denver, and Atiq Juma Nasib, SVPCommercial Services of Dubai Chamber,discussed the topic “The Importance ofTourism on the City’s Economy” with ABCDubai Premier Club members.

NOVEMBER 2016

30.10-2.11 GLOBAL TRADE DEVELOPMENT WEEK

(SUPPORTED EVENT)

Anyone interested in the impact and evolution of Free TradeAgreements and customs regulation on their businessshould mark their 2017 calendar for the 8th edition of theGlobal Trade Development Week (GTDW) conference, setfor October 31 - November 1, 2017, in Dubai.

The 7th edition of this comprehensive forum on the theme“Taking Customs into the Future – Stimulating IncreasedTrade and Economic Growth” was held at JumeirahEmirates Towers, Dubai, under the patronage of the UAEMinistry of Economy and the Federal Customs Authority.

Glenda Abadines, Trade Compliance Director Middle East &Asia Pacific, Baker Hughes, emphasized the need for FTAs tobe user-friendly in order for the benefits to outweigh thecosts. She added that while it is easier to negotiate andimplement bilateral agreements as they are often lesscontentious, multilateral agreements open doors to morecountries. Rubisel Velazquez Lugo, Director of InternationalTrade Rules, Ministry of Economy, Mexico, AbdessalamObeidat, Transport and Logistics Manager, AqabaDevelopment Corporation, Jordan, and Sultan AhmedDarwish, Director of Trade Negotiations and WTO, Ministryof Economy, UAE, rounded out the panel.

During a panel discussion on bilateral and multilateral FreeTrade Agreements, Bilal Sabouni, CEO ABC Dubai, providedan overview of US Free Trade Agreements, then describedthe US-UAE trade relationship, from an early Trade andInvestment Framework Agreement (TIFA) to the currentEconomic Policy Dialogue (EPD) and their quantifiableimpact on the US economy, resulting in a trade surplus.

7.11 US CONSULATE GENERAL OF THE USA SECTION CHIEFS BRIEFING AND GM

If there was one event that united the VIPs of the Americanbusiness community in 2016, ABC Dubai’s November 7 GeneralMeeting was it. C-suite executives and other ABC Dubai membershad a unique opportunity to learn more about US Consulate SectionChiefs’ respective roles and engage with them on specific issuesover light refreshments at ABC Dubai’s General Meeting at theDubai Creek Golf & Yacht Club on November 7.

ABC Dubai CEO Bilal Sabouni opened the General Meeting and laterintroduced the Chairman of the Nominations Committee who tookfinal nominations for the 2017 Board of Directors from the floor andconcluded the Board nominations process.

The program continued with US Consul General Paul Malikreiterating his role and introducing his team of trusted envoyswhose service to American citizens in Dubai is invaluable:

Participants:

• US Consul General Paul Malik

• Martin Kelly, Deputy Principal Officer

• Mark Hartfield, Regional Security Officer

• Wendy Green, Consular Chief

• Quentin Gray, Agricultural Counselor

• Nasir Abbasi, Commercial Attaché

• Beth Smith, Political Economic Section Chief

• Robert McCutcheon, Director, Iran Regional Presence Officer

• Christine Dal Bello, Public Affairs Officer

9.11 US GENERAL ELECTION RESULT BREAKFAST: “BUILDING BRIDGES OVER BREAKFAST”

With the attention of most Americans, if not the world, turned to the outcome of the November 8 USGeneral Election, ABC Dubai hosted a breakfast on the theme “Building Bridges over Breakfast” at theJW Marriott Marquis Velocity Sports Lounge, Dubai.

In an initiative to bring the American business community together to witness the outcome of theelection, ABC Dubai invited high-ranking US and local officials to join ABC members, stakeholders andfriends of all political persuasions to follow live coverage of the US General Election results.

More than 100 guests engaged in animated conversation as they closely followed state-by-statereturns, culminating in a highly anticipated conclusion to the campaigns with the official declarationof Donald J. Trump as the 45th President of the United States.

Multiple news media outlets including Gulf News and Dubai Eye covered the event. While manyattendees expressed disappointment in the outcome, several stated the importance of national unityover personal party preference and the expectation of a peaceful transition of power as a hallmark ofAmerican Democracy.

21.11 GOVERNOR OF MISSOURI TRADE VISIT / ROUNDTABLE DISCUSSION

ABC Dubai was proud to host Missouri Governor Jeremiah W. (Jay) Nixon at a roundtable discussionon current trade issues at the Four Seasons Hotel, Dubai, on November 21. Governor Nixon and hisdelegation met with ABC Premier Club members to discuss industry-specific issues and areas ofcollaboration. The program was also used to educate the delegation on issues of importance to USprivate sector companies ahead of their further meetings with UAE government officials.

23.11 ABC DUBAI INAUGURAL THANKSGIVING DINNER

In an initiative to demonstrate gratitude to the leadership of the United Arab Emirates for more than30 years of gracious hospitality to the American business community, ABC Dubai hosted its InauguralThanksgiving Dinner on November 23, at The Conrad Hotel, Dubai.

ABC Dubai was delighted to welcome His Excellency Sheikh Nahayan Mabarak Al Nahayan, Ministerof Culture and Knowledge Development to this historic celebration as guest of honor and keynotespeaker. for the evening, alongside US Consul General Paul Malik and other eminent members of theAmerican & international diplomatic and business community were also present as HE SheikhNahayan honored guests with a poignant historical perspective of Franklin D. Roosevelt’s vision forthe future, citing his 1941 State of the Union Address. He added that residents in the UAE and UShave many reasons to feel grateful and underlined the strong relationship between the US and UAE,as symbolized by the Rings of Friendship monument located in Dubai Creek Park.

US Consul General Paul Malik shared his personal and professional perspective as the son of adiplomat and now a member of the US Senior Foreign Service, in a career that has spanned 24 yearsand taken him to countries in the Middle East, North Africa and Europe. Mr. Malik expressed that hewas grateful for the welcome and local friendships extended by members of his host countries.

In the longstanding tradition of expressing gratitude at Thanksgiving, ABC Dubai presented HESheikh Nahayan with an engraved crystal plate from Tiffany & Co., to demonstrate the Americanbusiness community’s appreciation for the UAE’s gracious hospitality and welcoming environmentfor more than 30 years.

The exclusive event also saw one lucky participant winning a holiday for two to the USA includinground-trip flights & hotel stay courtesy of Emirates and Emirates Holidays. ABC Dubai’s InauguralThanksgiving Dinner was sponsored by DAFZA, Emirates Airlines, Emirates Holidays and Contempo.

DECEMBER 2016

05.12 DIVERSITY & ENGAGEMENT AS A KEY BUSINESS DRIVER: A CONVERSATION WITH

DEBORAH ROSADO SHAW, PEPSICO

ABC Dubai and President’s Club member PepsiCo offered amorning program with Deborah Rosado Shaw, Senior VicePresident, Chief Global Diversity & Engagement Officer,PepsiCo, on the theme “Diversity & Engagement as a KeyBusiness Driver” at PepsiCo’s Emaar Square offices in Dubai,on December 5.

ABC Dubai members, guests, and friends joined together atPepsiCo’s regional headquarters for a chance to hearDeborah Shaw speak about the value added to businesseswhich embrace diversity as part of their growth strategy.Attendees enjoyed a light breakfast as Shaw revealed the 3-pronged approach of the company’s “Performance with aPurpose” strategy, a sustainable business model focusing onProduct, Planet and People.

Asked by the event’s presenter Bilal Sabouni, CEO of ABCDubai, what audience members could walk away with todrive greater diversity and engagement within their ownorganizations, Shaw emphasized the importance ofengaging in direct dialogue and adopting a spirit ofexploration so as to consider the full breadth and depth ofresources companies can avail to accelerate growth. Sheadded that attention to local market intelligence is a keycomponent of PepsiCo’s marketing and new businessdevelopment projects. The event concluded with a livelyquestion & answer exchange and post-event networking.

10.12 CHRISTMAS IN THE DESERT

If you missed ABC Dubai’s annual Christmas celebration last month, be sure to make this wonderfulevent part of your New Year’s resolutions for 2017. Members and friends of all ages enjoyed aspectacular afternoon and evening at a festive winter wonderland set in the dunes of the Al Awirdesert campsite. With transportation provided, the journey there was as exciting as the event itselffor those who opted for some 4x4 dune bashing.

Upon arrival, guests were treated to a desert sunset photo opportunity with Christmas flair,refreshments and numerous activities including camel riding, quad biking, sand surfing, treedecorating and lighting, kids’ corner, etc. As the stars came out, the beautiful setting of Santa’svillage came alive with lights and guests settled down to enjoy a lavish buffet dinner.

The highlight of the event, of course, was the arrival of none other than jolly Santa Claus direct fromthe North Pole, astride a camel, in response to hearing revelers singing Christmas carols. As Santaand his elves welcomed children with their wish lists, adults relaxed in casual conversation.

“This event brought together the American business community and our local friends as we markedan important holiday celebration far from home, in the same spirit of festivity but with a unique localflavor not found anywhere else in the world,” noted Bilal Sabouni, CEO of ABC Dubai.

Participants also had a chance to win one of two grand prizes offered by event sponsors Tiffany &Co and Emirates Airline. ABC Dubai also thanks Emirates Airline, American Hospital Dubai and OceanFair International for their sponsorship participation.

13.12-14.12 RAK FINANCE & INVESTMENT FORUM (SUPPORTED EVENT)

Participants seized the opportunity to interact with key local government leaders and private sectorexecutives in RAK to gain a comprehensive understanding of venture opportunities and investmentprojects underway in the Emirate. These projects have emerged throughout a number of keyeconomic sectors including manufacturing & production, real estate, hospitality & tourism,infrastructure, etc.

Officials from RAK Investment Authority, RAK Investment Development Office, RAK Free TradeZone, RAK Department for Economic Development, RAK Chamber, RAK Tourism DevelopmentAuthority, RAK Ports, RAK Ceramics, RAK Bank, Al Hamra Group, Al Marjan Island, RAK Airport, aswell as industry practitioners from international and regional organizations such as Goldman Sachs,Colliers International, Samena Capital Investments, HSBC, PwC, Nabarro, Utico and many moreshared their insights.

As an integral component of ABC Dubai’soverall mission is to represent and stimulateUS business interests across the NorthernEmirates of the UAE while stronglysupporting their economic growth, theCouncil was proud to support the Ras AlKhaimah (RAK) Finance & Investment Forum,under the patronage and presence of HHSheikh Saud Bin Saqr Al Qasimi, SupremeCouncil Member and Ruler of Ras Al Khaimah,at the Rixos Bab Al Bahr

THANK YOU TO OUR 2016 SPONSORS

Wednesday, 1: Regional Emerging Markets Focus Group (Premier Club only)

Sunday, 5: Regional Emerging Markets Focus Group (Premier Club only)

Monday, 6: Super Bowl SocialWednesday, 8: Spotlight on Afghanistan & ABC Dubai General MeetingWednesday, 22: Dubai Islamic Economy Seminar

Wednesday, 1: US Tax Talk Tuesday, 7: Women's Leadership EventSunday, 19: A conversation with John Boehner

Tuesday, 4: Country Spotlight on Kuwait & ABC Dubai General MeetingWednesday, 12: A Culinary Journey

Wednesday 3: Cinco De MayoMonday 22: The Arab Luxury World (supported event)TBC: InterCouncil Networking Evening

The above events and dates are subject to change. ABC Dubai reserves the right to add, remove or modify any of the above events as deemed necessary. We welcome your perspective regarding current and future events for 2017 and will be pleased to integrate suggestions that add value to our programming for the benefit of our business community.

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ABC DUBAIMEMBERSHIP REWARDS

PROGRAMThe ABC Dubai Membership Reward Program (MRP) is an expanding initiative designed to enhanceyour membership investment and is a benefit open to all members. Our goal is to support memberbusinesses within the UAE by promoting a business referral network, while at the same time enrichingthe value of individuals’ membership in the American Business Council.

A SAMPLE OF OUR PARTICIPATING COMPANIES

To see each company is offering, please visit our membership rewards program on www.abcdubai.com To participate with a promotion or discount to council members contact: valerie.bradley@abcdubai.com

OUR PREMIER CLUB MEMBERS

BE A PART OF IT!

PO Box 74648 Emarat Atrium Bldg. Office 38

Sheikh Zayed Rd Dubai, United Arab Emirates Tel: +971 4 379 1414

www.abcdubai.com • info@abcdubai.com