Friday 09 December 2022 - 5:57:06 am

UAE, US to discuss promoting trade partnerships

WASHINGTON, 11th September, 2021 (WAM) -- Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade will have direct talks in Washington, DC, this week with US senior officials and private sector representatives in a number of US states.

The two ministers and their accompanying delegation, who include representatives from the UAE public and private sectors, will seek the development of bilateral relations and strengthening the economic partnership between the two nations.

The UAE delegation includes Mohamed Ali Al Shorafa Al Hammadi, Chairman of Abu Dhabi Department of Economic Development; Eng. Saed Mohamed Alawadi, Chief Executive Officer of Dubai Industries & Exports; Mohammed Juma'a Al Musharrakh, Chief Executive Officer (CEO) of the Sharjah FDI Office (Invest in Sharjah); and Fahad Al Gergawi, Chief Executive Officer of Dubai Investment Development Agency (FDI).

The visit comes as an important step forward toward consolidating the UAE’s status as the largest export market for the United States in the Middle East, and one of the major investors in the US economy.

The Emirati delegation will discuss with the US officials the prospects for expanding channels of cooperation in a number of key sectors, including infrastructure, health care, manufacturing, artificial intelligence, agricultural technology, and economic and social development initiatives related to renewable energy.

They will meet with senior officials from the US President Joe Biden Administration and key members of the US Congress, as well as a number of business leaders and local representatives concerned with economic development. They will also participate in a series of high-level discussions and round tables in Washington, DC, before visiting a number of other states.

Abdullah bin Touq will visit New York, Delaware and Virginia to hold meetings with key government officials, in addition to attending a number of functions to enhance direct communications with private sector entities, including start-ups.

Dr. Al Zeyoudi will highlight the growing role of the UAE and its eminent regional presence. He will visit Arizona and Indiana to meet with  government officials, and representatives of private sector agencies specialising in artificial intelligence and agribusiness sectors. He will highlight the strengths boasted by of the UAE as a global trade destination and vital connecting point between East and West.

The US trade surplus with the UAE amounted to $11.68 bn in 2020, which is the fourth highest surplus in the US trade exchanges with the outer world.

The UAE continues to top the list of the US' largest export markets in the Middle East for the twelfth consecutive year, with the volume of US exports to the UAE amounting to more than $15 billion in 2020. Investments between the two countries resulted in the creation of 88,000 jobs.


WAM/Hatem Mohamed