STRATEGIC DIALOGUE FOLLOW-UP: OPIC COVERAGE

UNCLAS ABU DHABI 001340 SIPDIS SENSITIVE STATE FOR NEA/ARP, NEA/RA, DRL AND EB/CBA STATE PASS OPIC/OPIC INTERNATIONAL POLICY DEPARTMENT FOR VIRGINIA GREEN AND HARVEY HAMBURG AMEMBASSY TUNIS HOLD FOR FSI: OLIVER JOHN USDOC FOR 4530/ITA/MAC/ONE/DGUGLIELMI, 4520/ITA/MAC/ONE/CLOUSTAUNAU, 4500/ITA/MAC/DAS/WILLIAMSON, 3131/CS/OIO/ANESA E.O. 12958: N/A TAGS: ELAB EINV PREL PHUM PGOV TC SUBJECT: STRATEGIC DIALOGUE FOLLOW-UP: OPIC COVERAGE REF: A) ABU DHABI 941, B) ABU DHABI 1090 ¶1. (SBU) In a meeting with Finance Minstate Dr. Muhammad Khalfan bin Khirbash (the de facto Finance Minister) on March 18, the Ambassador followed-up on the issue of OPIC coverage for the UAE, first raised by the UAEG last Fall in the context of the bilateral Strategic Dialogue meetings in Washington. The Ambassador noted that a number of U.S. companies have expressed interest in seeing OPIC coverage extended to the UAE. Dr. Khirbash said the UAEG is still very interested in securing OPIC coverage, particularly as it might help attract additional U.S. foreign direct investment (FDI). ¶2. (SBU) The Ambassador said the Labor Ministry's recent drafting of a proposal to more formally recognize workers rights (see reftels) is a positive development. Having these draft rules promulgated might prove helpful in making the argument for a return of OPIC coverage. Dr. Khirbash agreed and said he would contact the Labor Minister and push for rapid approval of the proposed regulations. ¶3. (SBU) Comment: Having Dr. Khirbash weigh in may help speed up the usually rather lengthy approval process for regulations. WAHBA