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Thinkpad (AXcess News) Washington - President Bush remarked on Tuesday that he renewed his commitment to the United Arab Emirate-owned Dubai Ports World purchase of the British company that controls six US ports, despite the intense controversy surrounding the port deal and the scrutiny that is now being given to examining security issues related to its operation by a UAE-owned company.
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Microsoft The President will be the final say in deciding whether the UAE port deal will proceed. "My position hasn't changed," Bush said to reporters following his meeting with Italy'sPrime Minister Silvio Berlusconi Tuesday morning.
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Laptop Computers Lawmakers have criticized the Dubuai Ports World acquisition of the British controlled P&O, who currently owns the operations of the six US ports that include New York, Baltimore and Miami ports. Democrats and Republicans alike were critical of the approval process that overlooked a mandatory 45-day review period before a sale to a foreign-owned business could be conducted. Lawmakers voiced their concerns loud enough that the UAE-owned company agreed to have the transactions terms be examined further before closing the deal in Great Britain.
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Laptop Computer The criticism has affected US business relations with Arab companies who were surprised at the reaction by lawmakers here. While in the US, concerns over security related to a Middle Eastern company owning the US port operations are justified in theeyes of Congress,to Arab business owners it appears more of an insult inconsideration of their cooperation with the United States in dealing with terrorist organizations.
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Desktop Computer The rift it has caused the US state department is growing, forcing Secretary of State Condolezza Rice to assure Middle East allies of the United States intentions.
Notebooks Hoping toprevent bipartisan rebellion while avoiding embarrassment overseas, President Bush agreed Sunday to Dubai Ports World's request for a 45-day investigation of the deal's potential security risks.
Lenovo At a White House press briefing Monday, Scott McClellan said, "Our interest over the last several days has been in making sure that Congress has a better understanding of the transaction and the facts involved," McClellan said. "There have been a number of conversations going on between the companies and congressional leaders like Senator Frist, Speaker Hastert, I think, and others have been involved in discussions with members of Congress, as well. We've been involved in discussions. The Treasury Department, as Chair of the Committee on Foreign Investment, has been involved in those discussions, as well. And we think that a reasonable middle ground has been reached."
Hard Drive Congressman King has said repeatedly that what CFIUS failed to do was really an adequate national security investigation.
Travelstar In response to reporters questions over adequate examination of the Dubai Ports World deal McClellan said, "First of all, this is a congressionally-mandated process. Congress put this process in place when it comes to foreign transactions. And the Committee on Foreign Investment thoroughly reviewed this transaction initially. And there was an intelligence assessment that was done early on. I think they were looking at this for about a three-month period, is what Deputy Secretary of Treasury Kimmitt indicated to members of Congress last week in one of the hearings. And there are safeguards that are put in place, it was closely scrutinized," said McClellan. "The President believes it should be allowed to move forward," McClellan added.
Gateway In commenting further this morning to reporters questions, President Bush said, "I look forward to a good, consistent review and urge Congress to look at the facts."
Laptop Parts Bush wenton to say, "What kind of signal does it send throughout the world if its OK for a British company to mange the ports but not a company that has been secured - that has been cleared for security purposes from the Arab world?" he said.
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