Abu Dhabi: The UAE’s Ministry of Industry and Advanced Technology (MoIAT) signed a MoU with the American National Standards Institute (ANSI), it was announced on Friday.
Under the MoU, the two entities will cooperate more closely towards lowering trade barriers and promoting economic growth.
In the first-half of 2022, the US was one of the UAE’s largest trading partners, with non-oil trade between the two countries reaching almost $14.5 billion (AED 52.9 billion).
The agreement will facilitate cooperation in the areas of standardization, and foster mutual exchange of information between the two bodies. MoIAT and ANSI will work with standards organizations in their respective countries to establish bilateral relationships that will promote joint ventures to stimulate industry-to-industry cooperation as a building block to international standardization, which would enhance free trade.
“Our MoU will help the UAE and US to capitalize on the strong ties between our two nations,” said Omar Al Suwaidi, Undersecretary of the Ministry of Industry and Advanced Technology. “Bilateral trade between the UAE and US stood at more than $23 billion in 2021. We can further build on this positive growth by lowering trade barriers.
The MoU aims to ensure that national standards and their application facilitate international trade and support consumer confidence. Both parties will work together to facilitate dialogue among UAE and US experts in various areas of standardization and conformity assessment.
“ANSI is honored to commemorate our strong partnership with the UAE and MoIAT, and continue our cooperation in international standards,” SAID S. Joe Bhatia, President and CEO of ANSI. “As we know, standards form the foundation of the global economy and with this MoU ANSI and MoIAT look forward to supporting the fast-growing bilateral trade between our countries.”
Earlier this week, MoIAT signed a separate MoU with the Korean Agency for Technology and Standards (KATS) with the aim of enhancing global trade.
