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TOP ALLIES: On the US-GCC business relationship

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Separated by thousands of miles, countries in the Gulf region have been successful in strengthening trade relations with economic powerhouse, the United States, says Mas Meghji

May 22, 2012 2:27 by



For its part, Emirates has invested significantly in American equipment and human capital. In fact, the airline em­ploys more than 700 Americans globally and its ledger includes a record-breaking $24 billion order for 50 Boeing 777-300ERs, placed at the Dubai Air Show in November last year. This historic order complements Emirates’ impressive fleet of Boeing aircraft already supporting its global operations; including flights to its five other US destinations.

In the GCC, the cake of the trade with the US goes to Saudi Arabia. Ac­cording to data recently released by the US Census Bureau, trade between the US and Saudi Arabia reached $61.29 billion in 2011. This marks a 42.5 percent in­crease over the value of bilateral trade in 2010, with only 2008 recording a higher amount: $67.3 billion. Exports from the US were $13.82 billion, while imports from Saudi Arabia rose to $47.48 billion. The large increase in overall trade is evi­dence of the strong partnership between the US and Saudi Arabia, and the contin­uing improvement of the global economy.

Transportation equipment contin­ued to account for the largest share of US exports and constituted 35.8 percent of goods and services exported. Other top commodities included machinery, chemicals, and computer and electron­ic products. Agriculture products and primary metal manufactures had some of the largest year-on-year gains, in­creasing by 103.9 percent and 130.3 percent, respectively.



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