Washington DC [USA], Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, visited Washington DC for talks with Gina Raimondo, US Secretary of Commerce, to discuss strengthening bilateral trade ties and investment.
Dr. Al Zeyoudi, accompanied by Yousef Al Otaiba, Ambassador of the United Arab Emirates to the United States, also led the delegation of UAE government officials and business leaders to the 10th SelectUSA Investment Summit, an event that promotes and facilitates business investment in the US explore expanding opportunities for the UAE private sector.
During his meeting with Secretary Raimondo, Al Zeyoudi reaffirmed the importance of economic relations with the United States, which is the UAE's third largest global trading partner and accounts for 27% of the United States' non-oil trade with the Arab world.
In 2023, the two nations shared bilateral trade worth $40 billion, an increase of 20.1 percent from the previous year and a growth of 50.2 percent compared to 2019. Both discussed areas of interest mutual, including ongoing collaboration in the development of renewable energy.
At the SelectUSA Investment Summit, hosted by the U.S. Department of Commerce and bringing together public officials and corporate leaders, Al Zeyoudi also met with Governor Phil Murphy of New Jersey to discuss how companies, investors and UAE-based family offices can enter or expand their presence in the US market in areas of mutual interest, such as clean energy, logistics, infrastructure development and advanced technology.
The Summit workshops and seminars also enabled the delegation to learn about the various investment opportunities in the US, allowing them to identify potential areas of collaboration and the means to access them.
Addressing attendees from the American business community at a session organized by the UAE-US Business Council, Al Zeyoudi said: "The United States of America remains one of our most trusted international allies and a trade and investment partner Our relationship is not only strong and enduring, it continues to find new productive horizons, from collaboration in renewable energy to agricultural technology and advanced technology. Our visit to the United States this week is a reflection of our commitment to finding new avenues. of cooperation and build partnerships internationally. SelectUSA is not only the ideal platform to discover opportunities in the US market, but also to showcase the dynamism of the UAE ecosystem, which is already home to more than 1,500 American companies."
The UAE is the largest Arab investor in the United States with assets of more than $38.1 billion, accounting for more than 50 percent of Arab investment in the country in 2022. UAE investments in the United States Over the last five years they have increased by 12 dollars. billions across a variety of sectors with a focus on transportation, business services and ICT. Majority-owned UAE companies employ more than 24,300 U.S. workers and help grow U.S. exports, contributing $1.4 billion to the value of U.S. goods exported in 2021.
The UAE delegation included more than 65 participants, including Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment, Juma Mohammed Al Kait, Deputy Undersecretary of the Ministry of Economy for Foreign Trade Affairs, and Saud H. Al Nowais, UAE Commercial Director. Attaché (Counselor) of the UAE Embassy, as well as senior executives from government and private sector companies such as Abu Dhabi Investment Office, Sharjah Research, Technology and Innovation Park, Emirates Nuclear Energy Corporation, Mubadala, EDGE Group, Ras Al Khaimah Economic Zone (RAKEZ), LuLu Group International and Emirates Aluminum.
Dr. Al Zeyoudi, accompanied by Yousef Al Otaiba, Ambassador of the United Arab Emirates to the United States, also led the delegation of UAE government officials and business leaders to the 10th SelectUSA Investment Summit, an event that promotes and facilitates business investment in the US explore expanding opportunities for the UAE private sector.
During his meeting with Secretary Raimondo, Al Zeyoudi reaffirmed the importance of economic relations with the United States, which is the UAE's third largest global trading partner and accounts for 27% of the United States' non-oil trade with the Arab world.
In 2023, the two nations shared bilateral trade worth $40 billion, an increase of 20.1 percent from the previous year and a growth of 50.2 percent compared to 2019. Both discussed areas of interest mutual, including ongoing collaboration in the development of renewable energy.
At the SelectUSA Investment Summit, hosted by the U.S. Department of Commerce and bringing together public officials and corporate leaders, Al Zeyoudi also met with Governor Phil Murphy of New Jersey to discuss how companies, investors and UAE-based family offices can enter or expand their presence in the US market in areas of mutual interest, such as clean energy, logistics, infrastructure development and advanced technology.
The Summit workshops and seminars also enabled the delegation to learn about the various investment opportunities in the US, allowing them to identify potential areas of collaboration and the means to access them.
Addressing attendees from the American business community at a session organized by the UAE-US Business Council, Al Zeyoudi said: "The United States of America remains one of our most trusted international allies and a trade and investment partner Our relationship is not only strong and enduring, it continues to find new productive horizons, from collaboration in renewable energy to agricultural technology and advanced technology. Our visit to the United States this week is a reflection of our commitment to finding new avenues. of cooperation and build partnerships internationally. SelectUSA is not only the ideal platform to discover opportunities in the US market, but also to showcase the dynamism of the UAE ecosystem, which is already home to more than 1,500 American companies."
The UAE is the largest Arab investor in the United States with assets of more than $38.1 billion, accounting for more than 50 percent of Arab investment in the country in 2022. UAE investments in the United States Over the last five years they have increased by 12 dollars. billions across a variety of sectors with a focus on transportation, business services and ICT. Majority-owned UAE companies employ more than 24,300 U.S. workers and help grow U.S. exports, contributing $1.4 billion to the value of U.S. goods exported in 2021.
The UAE delegation included more than 65 participants, including Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment, Juma Mohammed Al Kait, Deputy Undersecretary of the Ministry of Economy for Foreign Trade Affairs, and Saud H. Al Nowais, UAE Commercial Director. Attaché (Counselor) of the UAE Embassy, as well as senior executives from government and private sector companies such as Abu Dhabi Investment Office, Sharjah Research, Technology and Innovation Park, Emirates Nuclear Energy Corporation, Mubadala, EDGE Group, Ras Al Khaimah Economic Zone (RAKEZ), LuLu Group International and Emirates Aluminum.
