TOP ALLIES: On the US-GCC business relationship
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 kippreport
Talking about the challenges in doing business, President of the US-UAE Business Council, Danny Sebright, said in an interview that some of the biggest challenges that foreign companies face doing business in the region, and particularly American companies, have to do with culture, distance, and patience. “American companies are halfway around the world and many of them are not global players and not major exporters. For them to make the decision to come to the UAE and learn about opportunities takes time and commitment. It also requires them to understand how business is done in this part of the world. Business is built on relationships; built and maintained.
“Many Americans can be impatient and they want to come in and sign the deal on a Tuesday and leave again on a Wednesday, but business is just not done here that way. So I tell many American companies that are not familiar with doing business in the region to have patience, take the time to do their due diligence, and get to know their potential partners on the ground,” he said.
- Mas Meghji
First published in Trends