From: Jeffrey Epstein <[email protected]> To: Larry Summers ale Subject: Date: Tue, 08 Feb 2011 19:27:46 +0000 Offset Program Bureau holds event in Washington to discuss new policy and engage with business executives from U.S. companies posted on 07/11/2010 Washington, D.C. - Under the patronage of Yousef Al Otaiba, UAE Ambassador to the USA, the UAE Embassy hosted a presentation, discussion, and dinner with a delegation from the Offset Program Bureau (OPB) of the United Arab Emirates (UAE), led by Saif Al Hajeri, the CEO. Executives from US companies with current and potential offset obligations in the UAE and who have interests in defence contracting, technology transfer, and training opportunities in the UAE attended the meeting. Ambassador Al Otaiba, and Commercial Counsellor Saud Al Nowais welcomed the group and provided opening remarks. In his remarks Al Otaiba stated: "Since its establishment in 1992, the UAE Offset Program has been contributing vehemently in generating huge economic and commercial value for the UAE and several successful and unique joint projects - mostly with US companies - had been set up under the umbrella of the UAE Offset Program". Al Hajeri then addressed the audience and emphasised the new policy's focus on flexibility, ease of project implementation and more involvement by defence contractors in the UAE. "If I was asked to identify the single most important characteristic of the new policy, I would say without hesitation its flexibility," said Al Hajeri. "Under the new policy," he continued, "the defence contractors have more flexibility in selecting the right mix of credit contribution with the adoption of a hybrid input and output model that enables defence contractors to utilise their existing strength and initial contributions." This past June, the OPB announced in Paris an overhaul in its policy, involving more contribution by defence contractors to the domestic economy with the aim of supporting su