Dubai The UAE and US are determined to strengthen their trade alliance under the US's new National Export Initiative, says David Carbajal, economic officer in the US consulate.
"The US and the UAE have maintained a long, productive and successful relationship at many levels, but I believe one of our greatest success stories is the expansion of trade and commerce," Carbajal told a press conference yesterday.
In 2009, the UAE was the largest export market in the Middle East for the US with a value of $12 billion (Dh44 billion).
This has grown exponentially since 2000 when exports from the UAE to the US were valued at $2.2 billion.
In January, US President Barack Obama announced the National Export Initiative, a programme that aims to double American exports in the coming five years.
This initiative aims to strengthen the country's economy and create two million jobs through the trade sector.
In order to facilitate this, several initiatives such as expanding trade advocacy in all its forms, educating US companies about opportunities overseas, connecting them with new customers and advocating their interests will be initiated.
Statistics
Carbajal said that by providing clear and transparent statistics, the UAE is able to help educate and promote trade between the two countries.
The release of information through the Dubai External Trade Statistics DVD plays a big part in promoting levels of transparency.
"Statistics play a central role in promoting trade. Governments, companies and investors need statistics to make informed economic or business decisions.
"Reliable statistics are vital for a healthy, strong economy," he said.
Mahmoud Al Bastaki, director of Dubai Trade, underlined the important of providing accurate and transparent statistics.
"Providing accurate, accountable statistics on trade is an essential part of our ongoing service to Dubai's vast trading community.
"The latest edition of Dubai External Trade Statistics is designed to help business leaders to plan and strategise their growth in a measurable way.
"We are committed to our mission of transforming the end-to-end trade supply chain and provide the trading community solutions that make their business easier and faster," said Al Bastaki.
