Arab American Business: How America and the Arab World Do Business Together
The business relationship between the Arab World and America has a long history that has been very beneficial and important for both regions, in numerous ways. Although the relationship is a complex one, and even though it varies on a country by country basis, there are some common patterns in the way that America and the Arab World do business together.
One of the most important aspects of the relationship, for both parties, is the export of oil from the Arab World to the US. The United States is very dependent on its supply of oil from Arab countries such as Saudi Arabia. It requires oil to provide power for domestic and industrial use, as well as fuel for transport. Meanwhile, many Arab countries have economies that are largely based on oil, although many parts of the Arab World are making efforts to diversify their economies. Exports of oil are responsible for much of the wealth and development of many countries in the Arab World, and America has been one of the most important destinations for exported oil.
Trade between the Arab World and America does not consist solely of oil, however. Many companies in both the US and Arab countries rely on imports and exports between these two regions. The US is one of the most important trading partners for many Arab countries, and trade with the Arab World also plays an important role in the US economy. Other products that are frequently traded between America and the Arab World include vehicles, consumer goods and machinery.
The most important destinations in the Arab World for American goods are the United Arab Emirates, Saudi Arabia, Egypt, Iraq, Qatar and Kuwait. Saudi Arabia is the main source of Arab imports into the US, largely due to the oil industry, but other Arab countries and products are also important imports in the US.
Many multinational companies are based in both America and the Arab World, although there are also many smaller businesses in both the US and the Arab World that depend on the business relationship between these two regions. Many people rely on Arab American business for their livelihoods.
The Arab World is a region with a rapidly growing and diversifying economy. Some parts of the region have suffered during the recent global economic crisis, but others have remained far more stable than the rest of the world, making the financial and investment sector in the Arab World increasingly important.
There is still huge potential for growth in the Arab World, and this means that the Arab business relationship with the US is likely to continue to be important for both countries. The US is the largest trading nation in the world, making it an important partner for the expanding Arab economies, while the rapidly growing economies of the Arab World are likely to continue to be an attractive and important market for the US.
If you are interested in finding out more about the business relationship between the United States and the Arab World then you may want to spend some time exploring the arabamericangiving.org website, where you can find out more about the roles which Arab countries and the US play in each other's economies.