The ambitious Sharjah emirate is currently highlighting its endless possibilities in New York and Washington to explore joint ventures in different sectors.

Sharjah’s largest ever delegation, comprising more than 20 government and private organizations , have been participating in a five-day roadshow in the US.

The roadshow, organized by Sharjah Investment and Development Authority (Shurooq) under the slogan: “Sharjah — Promising Opportunities, Global Horizons,” will end Friday (October 4).

During the roadshow, Shurooq and Sharjah Chamber of Commerce and Industry (SCCI) have signed four separate Memorandums of Understanding with US-based authorities with the aim of strengthening commercial ties, developing reciprocal cooperation and expanding the strategic partnership in terms of trade exchange between Sharjah and the USA.

Sheikh Sultan bin Ahmed Al-Qassimi, chairman of Sharjah Media Center and head of the Sharjah delegation, said Sharjah is keen to explore and activate new channels of international cooperation and to promote its business offerings and investment opportunities.

The relations between Sharjah and the USA have been steadily growing.

The USA Regional Trade Center opened up in Sharjah in 2012 to boost bilateral cooperations .

The USARTC will help enhance Sharjah’s position as a regional hub for US investment in the Middle East.

Under the terms of the MoUs, the parties will seek to share experience in promoting and attracting foreign investments, and to facilitate company referrals,thus, increasing business activity in Sharjah and the US.

The MoUs also aim to support inward investments referred by each other with the set-up or expansion of their business.

Both parties will explore broader channels of cooperation in sectors such as retail, SMEs, industry, technology, renewal energy, tourism, health care and logistics.

“The establishment of formal memorandums of understanding to support and encourage business relationships between our countries is a key component in ensuring the success of this undertaking and we are extremely pleased to see these agreements take shape,”said Marwan bin Jassim Al-Sarkal, CEO of Shurooq.

The Sharjah Chamber of Commerce and Industry, represented by its director general Hussain Mohammed Al-Mahmoudi, signed a further three similarly termed memorandums of understanding with the US Chamber of Commerce, the US-Arab Chamber of Commerce, and the US-UAE Business Council respectively.

Business data and statistics data show that trade and investment relations between Sharjah and USA maintained their present high rates over the last 10 years, where there are now around 300 US companies in Sharjah.

Trade between Sharjah and the US reached AED20 billion ($5.4bn) in the period from 1991 to 2012.

Recent studies conducted by Shurooq showed that Sharjah is a significant contributor to the UAE’s trade activities due to its geographical position, state of the art infrastructure, Sharjah International Airport and major airline companies, free zones, and Sharjah Healthcare City, in addition to being a regional trade hub that has seen a remarkable growth in re-export — from AED8.2 billion in 2006 to AED35.3 billion in 2011.

Trade exchange revenues grew from AED24.5 billion in 2006 to AED98 billion in 2011, through steady transactions with leading countries such as India, Japan, China, Iran, US, Germany, France, Malaysia, UK and South Korea.

“Sharjah’s economy saw vibrant activity from 2005 to 2012, increasing from AED40.227 billion to AED88.689 billion. It is expected to exceed the AED100 billion mark by the end of 2013, and reach AED113 billion by the end of 2014.,” said Marwan bin Jassim Al-Sarkal.