Dubai Ports World Watch: United Arab Emirates Company Agrees to Delay Ports Takeover

A cargo ship is unloaded at Maryland’s Port of Baltimore Thursday, Feb. 23, 2006. The imminent takeover of the Port of Baltimore by a company based in the Middle East, has prompted some Maryland lawmakers to wonder if there’s any way to stop it. Baltimore’s port is among half a dozen major U.S. seaports that would be taken over by a government-owned company in the United Arab Emirates. News of the takeover by Dubai Ports has raised calls from both parties for more oversight of port security, despite assurances from the White House that the change won’t pose a threat.

ASSociated Press: UAE Company Agrees to Delay Ports Takeover

A state-owned company in the United Arab Emirates volunteered late Thursday to delay part of its $6.8 billion takeover of most operations at six U.S. ports to give President Bush more time to convince skeptical members of Congress that the disputed deal poses no security risks.

Flap thinks a more thorough vetting of this issue may resolve any security concerns folks have with this company. Certainly the United States wishes to encourage outside/foreign investment (and even from Arab/Muslim countries) – so long as American security interests are not threatened.

The surprise announcement relieves some pressure from a standoff between President Bush a Congress controlled by his own party that had threatened to try to block the deal over concerns about the UAE’s purported ties to terrorism.

Under the offer coordinated with the White House, Dubai Ports World said it will agree not to exercise control or influence the management over U.S. ports pending further talks with the Bush administration and Congress. It did not indicate how long it will wait for these discussions to take place.

The company said it will move forward with other parts of the deal affecting the rest of the world.

“It is not only unreasonable but also impractical to suggest that the closing of this entire global transaction should be delayed,” Dubai Ports said in a statement.

Remember the QUOTE from President Ronald Reagan: “TRUST BUT VERIFY!”

Michelle Malkin has UAE COMPANY AGREES TO DELAY

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