July 15, 2009
TG-212

Secretary Geithner Joins U.S. –UAE Business Council
to Discuss the Importance of Education
Policy in the Drive for Economic Growth

ABU DHABI – Treasury Secretary Tim Geithner joined HE Sheikha Lubna Al Qasimi, United Arab Emirates (UAE) Minister of Foreign Trade, today for a breakfast event hosted by the U.S.-UAE Business Council to recognize the importance of education policy in the Middle East in the drive for global economic growth.

The open dialogue provided Secretary Geithner and the UAE representatives with the opportunity to share views on the priorities and commitments of both the United States and the UAE, regarding the importance of developing a highly-educated work force within the context of sustainable economic growth.

"Just one month ago, President Obama reminded us that we must recognize that education and innovation will be the currency of the 21st century," said Secretary Geithner. "The group we have here with us today embodies that reality. It is conversations like this that move us one step closer to the President's commitment to deepen ties between business leaders, foundations and social entrepreneurs in the United States and Muslim communities around the world."

The event brought together a dozen people representing the UAE's economy, trade and education sectors.  Attendees included HE Reem Al Hashemi, UAE Minister of State; HE Ahmed Al Sayegh, Chairman of the Masdar Initiative; and Aldar Academies and Fahad Saeed Al Raqbani, Deputy Director General of the Abu Dhabi Council for Economic Development.

"The UAE is one of the world's most open and dynamic economies," said Sheikha Lubna Al Qasimi. "The UAE's future sustainable economic growth will be derived from a concerted effort to develop and harness human capital.  Education is therefore a fundamental economic policy pillar. This commitment to education has resulted in highly effective collaborative relationships with first-rate, American institutions, such as Harvard University, Johns Hopkins University, the Massachusetts Institute of Technology and New York University."

Other areas of the morning's discussion included:

• The vision and strategy of creating a knowledge-based economy
• Aligning the education sector with development goals
• The challenges in meeting future needs in talent and labor
• The role of women and young people in a country's economic development

Secretary Geithner's visit to Abu Dhabi is part of a week-long trip also including visits to London, England; Jeddah and Yanbu, Saudi Arabia and Paris, France.  One of the objectives for Secretary Geithner on his visit to the Gulf is to further evaluate the contribution and significance of education within the framework of economic growth and sustainability.

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