Mar 13 2006
Dubai Ports World Deal Still Alive
But Frist, R-Tenn., acknowledged that if an American buyer is not found, and the Bush administration determines there are no security risks, a deal for DP World to manage and operate major U.S. ports still could go through.
”If everything that the president, the administration has said, and that is that there is absolutely no threatening or jeopardy to our security and safety of the American people … I don’t see how the deal would have to be canceled,” Frist said on ABC’s ”This Week.”
Take that Michael Savage. Remember, the one thing we gain is The UAE funding increased inspection and security of cargo as it is loaded in foreign ports to come here. That is a lot of security to be throwing away in a fit of panic.
Update:
And we need to fix this ASAP before an unfair and horrible image of America sets in:
One of Bahrain’s top politicians has warned that the US row surrounding DP World’s takeover of P&O has taken on a worryingly racist tenor.
Sheikh Mohammed bin Essa Al-Khalifa, chief executive of the Bahrain Economic Development Board, said that the events surrounding the Dubai company’s £3.9bn takeover of the UK ports group had also caused great consternation in the Gulf.
Sheikh Mohammed, who heads up Bahrain’s economic investment authority, and is a key member of the island’s government, said Arab countries could do little if the negative attitude towards the area persisted in the US.
Asked whether it was fair that many were describing the US reaction as racist, he said: “Absolutely, but it’s something we can’t speak about. I think it was a shame. The DP World deal was a good deal. But this is politics.”
And it is hurting a key alliance we need to face Iran and the mad mullahs with nukes:
The governor of the UAE central bank has sharply criticised US Congress opposition to the acquisition of six US ports by Dubai Ports World (DPW) and called for a reassessment of US trade links.”The American side that opposed the deal mixed economic and investment matters with issues of security and politics and this is the wrong approach and it will hurt free trade and international investment,” Sultan bin Nasser al-Suwaidi said in remarks published Monday in several UAE-based Arabic papers.
Hat Tip Drudge.
Update: More fallout as UAE may divest itself of dollars for Euros. Hat Tip American Thinker.
The central bank governor of the United Arab Emirates suggested the country may switch up to 10% of its $22.5 billion in currency reserves into euros, in a sign of fallout from Congress’ hostility to the acquisition of some U.S. ports by a Dubai-based firm.
Are we learning our lesson yet?
The UAE can’t win.
If they don’t retaliate, they are seen as wimps. If they do retaliate, Michelle Malkin and others will cite the retaliation as proof that the UAE was never a good ally in the first place.
What will prove more interesting is if Eller & Co (aka Eller ITO Stevedoring) is one of those American companies Congress pushes to take over terminals at the Port of Miami to ensure “port security”, AJ.
March of last year, Miami-Dade authorities had to investigate 130 illegally issued port access IDs, which was attributed to port corruption.
Eller & Co /P&O are 50% partners. And P&O is 50% owners with the POMTOC (Port of Miami Terminal Operating Company. ) POMTOC is one of the three terminal ops in the Port of Miami-Dade, with 10 years history at the port.
Despite the fact that DP World was not involved in that time period, port security was still compromised with the illegal port access IDs while using American/British operators. Not much of a testimony for “safer ports” with American or British firms, eh?
Links to the related local news articles of the illegal port IDs at Sea2Sea