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Recent Events & News
Strategic Partnership Agreement Signed by NUSACC and NADEC
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The National Association of District Export Councils (NADEC) and the National U.S. – Arab Chamber of Commerce (NUSACC) have just signed a strategic partnership agreement that will benefit U.S. exporters to the 22 countries of the Arab world. The agreement – the first of its kind for both organizations – was signed during NADEC’s recent annual export conference.
NADEC is an independent, nonprofit corporation that serves the interests of more than 60 District Export Councils (DECs) that operate throughout the United States. NUSACC is an independent, nonprofit business association that serves the interests of more than 50,000 stakeholders in the United States and throughout the Arab world. NUSACC is currently celebrating its golden anniversary, marking 50 years of service to traders and investors. To read the full report, please click here. |
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NUSACC Supports National Arab American Heritage Month
April is National Arab American Heritage Month (NAAHM), a celebration of Arab-Americans’ contributions to U.S. culture, politics, business, education, and cuisine. Organized by the Arab America Foundation, and supported by the National U.S. – Arab Chamber of Commerce (NUSACC), NAAHM has brought together thousands of Americans of Arab descent and friends of the Arab-American community. This year, over 100 proclamations were issued by state and local government authorities across the United States, including more than 30 Governors. (To see these proclamations, click here.)
As Heritage Month winds down, a special event was organized on Sunday, April 25, to showcase Arab-American leaders and friends. The most prominent of these friends is Joe Biden, President of the United States, who sent a letter in support of National Arab American Heritage Month. To read the full report, please click here. |
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Are We Winning the War, but Losing the Peace?
(Dr. Mohamed El-Erian) Back in 2008, the world teetered on the edge of an international financial crisis initially sparked by banks’ excessive risk-taking and the bursting of the U.S. housing bubble. What resulted was the worst global recession since the Great Depression of the 1930s. Thirteen years later, with global economic upheaval once again dominating the headlines, business leaders and politicians can learn from both the success and shortfalls of the past. That’s the message of Dr. Mohamed A. El-Erian, President of Queens’ College, Cambridge, and advisor to international financial services provider Allianz, as well as investment manager Gramercy. |
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A New York-born economic and business leader of Egyptian heritage, El-Erian, 62, spoke March 18 in a one-hour webinar co-hosted by the National U.S.-Arab Chamber of Commerce (NUSACC) and ABANA. (To view El-Erian’s introductory remarks only, click here.)
To read the full report, please click here.
To read the full report, please click here.
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HAS IRAQ REACHED AN INFLECTION POINT?
It has been a good month for the Republic of Iraq. The historic March 5 – 8 visit by H.H. Pope Francis – the first-ever papal visit to Iraq – highlighted coexistence and mutual respect among religious communities. In another first, a new American University (AUIB) has just opened its doors in Baghdad, with its President stating, “AUIB will have a transformative impact on Iraq and the Middle East by distinguishing itself as an exceptional and diverse learning community.” And the price of oil – a commodity on which Iraq depends heavily – has risen nearly 40 percent this year, with Brent crude topping $70 per barrel this past week.
It is still too early to say whether Iraq has turned a corner, but there is reason for optimism. |
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U.S. Ambassador Addresses NUSACC
The National U.S. – Arab Chamber of Commerce (NUSACC) recently continued its golden anniversary year with a webinar featuring the Honorable Matthew Tueller, U.S. Ambassador to Iraq. Tueller provided a thoughtful, comprehensive overview of bilateral and regional developments, with a special emphasis on business opportunities in Iraq for U.S. companies.
To read the full report, please click here.
The National U.S. – Arab Chamber of Commerce (NUSACC) recently continued its golden anniversary year with a webinar featuring the Honorable Matthew Tueller, U.S. Ambassador to Iraq. Tueller provided a thoughtful, comprehensive overview of bilateral and regional developments, with a special emphasis on business opportunities in Iraq for U.S. companies.
To read the full report, please click here.
Pandemic Sinks U.S. Exports to MENA by 27 Percent (2020)
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Top Five Destinations : UAE, Saudi Arabia, Egypt, Qatar and Morocco
Top Three Exporting States: Texas, California, and Louisiana Washington, DC – According to new U.S. Government data analyzed by the National U.S. - Arab Chamber of Commerce (NUSACC), exports of U.S. goods to the Middle East and North Africa (MENA) fell in 2020 to $45.66 billion, a decrease of 27 percent over 2019 levels ($62.68 billion). The reason for the drop can be summed up in a single word: Pandemic.
As COVID-19 swept across the world, it tamped down consumer demand, decimated supply chains, put big-ticket projects on hold, stymied travel and tourism, and drove up budget deficits to record levels. The pandemic also played an important role in the oil price war in mid-2020 that saw contract futures for West Texas Intermediate (WTI) collapse, bottoming out at -$37 per barrel. |
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“There has never been a year like 2020,” said David Hamod, NUSACC’s President & CEO. “American exporters took a beating but, by year’s end, they were still standing. The Arab world, which also took plenty of hits in 2020, remained a reliable destination for American products, even in the face of the global pandemic.”
To read the full report, please click here.
To read the full report, please click here.
Webinar on “Energy Transition” Kicks Off NUSACC’s Golden Anniversary Year!
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The National U.S. – Arab Chamber of Commerce (NUSACC) kicked off its golden anniversary year with a webinar featuring Dr. Daniel Yergin, Pulitzer prize-winning author of four books dealing with energy issues. The webinar featured a wide-ranging discussion that revolved around Yergin’s latest book, The New Map: Energy, Climate, and the Clash of Nations. The New Map has already been recognized as a “Book of the Year” by National Public Radio and USA Today, as well as “Book of the Year” by Bloomberg Surveillance.
This was the first event in NUSACC’s new “Thought Leader Series” of webinars, and the response from NUSACC stakeholders was excellent. More than 400 business leaders and senior government officials participated in the webinar, which included stakeholders in 40 nations around the globe. NUSACC was also pleased to showcase some of its partners, including the Los Angeles Chamber of Commerce, the Union of Arab Chambers, the World Trade Center of Greater Philadelphia, and the World Trade Center of Utah.
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Dr. Daniel Yergin, Pulitzer prize-winning author of four
books dealing with energy issues. |
Please click here to read the full report.
