US business links mean RAK boost

09/01/2012 - Ras Al Khaimah Property News Posted Bob Brunskill
US business links mean RAK boost

Property owners with business interests in the Middle East could be among those encouraged by a boost in business links with the US.According to senior officials in Ras Al Khaimah, the emirate is poised to boost strategic co-operation with the US.The move comes in the light of healthy trade in the emirate, with exports to the US rising between 2000 and 2010.Official data shows that exports increased by 18 per cent over the decade - rising from $971.7 million in 2000 to $1.15 billion in 2010.Oussama El Omari chief executive officer RAK Free Trade Zone explained: "In 2010, the UAE was the largest export market for the US in the Middle East and the 21st largest export market for the US globally."More than 750 US firms have a presence in the UAE, from Bechtel and ExxonMobil to Starbucks and Cold Stone Creamery. In addition to being an important supplier of energy, the UAE is now becoming an increasingly relevant consumer of energy."