Ministry Of Economy, US Delegation Discuss Ways Of Enhancing Joint Economic Cooperation

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Ministry of Economy, US delegation discuss ways of enhancing joint economic cooperation

ABU DHABI, (UrduPoint / Pakistan Point News / WAM - 13th Oct, 2019) Abdullah bin Ahmed Al Saleh, Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, and a United States delegation comprising officials and representatives of the business community in New York State, discussed ways of expanding cooperation in vital sectors between the UAE and the US, including in the creative knowledge economy, innovation, renewable energy, advanced technical industries, and research and development.

At the start of the meeting, which was held today at the ministry's headquarters in Abu Dhabi, Al Saleh highlighted the strong economic, investment and trade relations between the UAE and the US, which are reflected in the continuous growth of their bilateral trade and mutual investments.

He added that the expanding economic cooperation is driven by the UAE’s keenness to advance its overall relations, stressing that economic, trade and investment partnerships are promising, especially in vital sectors, which will meet its developmental aspirations.

He also pointed out that the UAE is the leading Arab investor in the US, while noting that the value of the non-oil trade doubled over the past decade, reaching some AED90 billion (US$24.5 billion) in 2018, and explaining that the UAE trades with almost all US states, especially Washington, California, Texas, Florida and New York.

Members of the US delegation praised the growing economic, trade and investment relations between the UAE and the US, noting that they expect further growth, in light of the mutual desire to strengthen overall cooperation.

They also commended the UAE’s attractive investment environment and encouraged the American business community to expand its activities in the region, while stressing the United States’ keenness to establish meaningful partnerships with Emirati investors in key sectors, such as agriculture and advanced technologies, and calling upon Emirati investors to invest in the US, especially in research, academic development and clean energy.

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