The economic relationship between the Netherlands and the United States already provides close to 625,000 American jobs and there is great potential for further growth. That was the main message of Dutch Prime Minister Mark Rutte to President Obama when he visited the White House, where he presented the president with a detailed study by the Dutch Embassy on the bilateral trade and investment relationship entitled, “Economic Ties between the USA and the Netherlands: A Partnership that Works.”
Despite a sluggish global economy, investment from and trade with the Netherlands continue to produce solid results for both countries. The Netherlands is the third largest investor in the U.S. and one of its largest export partners.
[When presenting this study to President Obama] Dutch Prime Minister Rutte said, “I see great potential for further growth and jobs creation. Dutch business leaders look forward to an intensified dialogue with American authorities to discuss future investment plans and the mutual challenges to realize these.”
In that same spirit, Rutte showed great interest in strengthening US-EU trade and investment relations through the establishment of a deep and comprehensive free trade zone between the EU and the U.S. This could boost U.S. exports by $53 billion, add over hundreds of thousands of U.S. jobs and could bring a much needed impulse for the American and European economies.
The report, Economic Ties between the USA and the Netherlands: A Partnership that Works, details the Dutch-U.S. economic relationship with a national and state-by-state analysis. It reveals:
- Close to 625,000 Americans are at work as the result of America’s economic ties with the Dutch;The Netherlands continues to be the 3rd largest foreign investor in the U.S. ($217.1 billion);
- The Netherlands continues to be the 3rd largest foreign investor in the U.S. ($217.1 billion);
- The Netherlands is the largest destination for America’s Foreign Direct Investment ($521.4 billion).
There are more than 850 Dutch companies in the United States, making the economic ties with the Netherlands highly relevant. These ties are most apparent in Texas – with over 75,000 jobs- and California – with close to 60,000 jobs- supported by Dutch-U.S. economic ties.
Texas is the top beneficiary of the Dutch-U.S. economic relationship. More than 75 Dutch companies including, Fugro, Heerema Offshore, KLM Royal Dutch Airlines, SBM Offshore, Shell Oil Company and Vopak North America are based in Texas. Dutch investment by these companies along with Texas’ exports to the Netherlands supports 75,653 jobs in the Lone Star state. Dutch foreign direct investment in Texas amounted to $11.4 billion in 2010, making the Netherlands the 4th largest investor there. Texas exported nearly $6 billion in goods to the Netherlands last year, with petroleum and coal products being the largest category of materials.
California is home to more than 80 Dutch companies such as NXP Semiconductors, Rabobank and the Nielsen Company. Dutch investment and California’s exports to the Netherlands support 57,968 jobs in the state. In 2010, the Netherlands was the 5th largest investor in the state, where Dutch investment was $6.7 billion. California’s exports to the Netherlands totalled $4.1 billion last year.
“The Netherlands and the USA share a strong economic relationship, stronger than people may realize,” said Dutch Ambassador Renée Jones-Bos. “It is the result of our shared entrepreneurial spirit – and has great potential for further growth in the future.”
Economic Ties between the USA and the Netherlands: A Partnership that Works provides a state-by-state breakdown of the number of Americans at work as the result of the economic ties with the Dutch. It details Dutch foreign direct investment in the 50 states plus the District of Columbia and Puerto Rico; and the state exports to the Netherlands. It contains profiles of the CEO’s of some of the diverse Dutch companies working in the in the U.S., ranging from the experts at DSM dedicated to creating healthier foods; to the innovators at Philips helping to make American lives easier; to TenCate whose materials are used in uniforms that help protect the U.S. Marines and first responders.
For more than 400 years, the Netherlands and the United States have been joined by the values of freedom, justice and an entrepreneurial spirit. A vibrant economic force, the Netherlands is also the third largest investor in America and a reliable trade and investment partner to the U.S. The Royal Netherlands Embassy, Dutch Consulates General and Honorary Consuls in the U.S. promote strong bilateral relations between the United States and the Netherlands in the areas of peace and stability; international law; energy and climate; water management; international human rights; and creative industries. The Netherlands and the United States: a partnership that works.
SOURCE: Royal Netherlands Embassy
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