Abu Dhabi: Bilateral trade and investment relations between the UAE and the US have registered an upward trend, and are poised for further exponential growth, according to the UAE’s Minister of Economy, Sultan Bin Saeed Al Mansouri.
The minister is leading a high-profile UAE business delegation to the US for collaborative discussions with senior officials.
“We see diverse opportunities and avenues for bolstering cooperation between the two countries. Bilateral non-oil trade between our countries reached $26.9 billion (Dh98.7 billion) in 2013, and the UAE continues to retain its lead among (Middle East and North Africa) Mena region countries as the largest export market for US goods and services,” Al Mansouri said in a statement.
“Our current visit to the US will include collaborative talks to cement partnerships in key business areas such as energy, aviation, information technology, and health care,” he added.
Investments on projects
The delegation includes officials from the Ministry of Economy, Dubai Internet City, Mubadala Aerospace, Abu Dhabi Department of Economic Development, and Abu Dhabi National Oil Company, among others.
Their visit is expected to drive investments on projects of mutual interest, and enhance trade cooperation between both countries on a government and private level. As part of the tour, the delegation will visit Washington DC, Seattle, Palo Alto, Silicon Valley, and Los Angeles.
According to the Ministry of Economy, the UAE’s foreign trade grew at an average rate of 12.6 per cent during the last three years to reach over $290 billion at the end of 2013.
