UAE Strengthens Trade Ties at SelectUSA Summit

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a high-profile UAE delegation to Washington DC for strategic discussions aimed at enhancing bilateral trade and investment ties with the United States. The delegation, including Yousef Al Otaiba, UAE Ambassador to the US, participated in the 10th SelectUSA Investment Summit, underscoring the UAE’s commitment to expanding its footprint in the American market.

During talks with Gina Raimondo, US Secretary of Commerce, Dr. Al Zeyoudi emphasized the significance of the economic relationship between the two nations. The UAE is the US’s third-largest global trade partner, accounting for a substantial portion of America’s non-oil trade with the Arab world.

In 2023, bilateral trade between the UAE and the US reached US$40 billion, marking significant growth from previous years. Discussions at the summit focused on opportunities for collaboration, particularly in sectors such as renewable energy, logistics, infrastructure, and advanced technology.

Governor Phil Murphy of New Jersey met with Dr. Al Zeyoudi to explore avenues for UAE businesses and investors to enter or expand within the US market. The SelectUSA Investment Summit provided a platform for the UAE delegation to identify potential areas for mutual cooperation and investment across various states.

Addressing US business leaders, Dr. Al Zeyoudi highlighted the enduring partnership between the UAE and the US, emphasizing their shared interests in innovative sectors like agri-tech and clean energy. The UAE’s commitment to economic diversification and strengthening bilateral ties was a central theme throughout the summit.

The UAE delegation, comprising over 65 participants from government bodies and leading private sector entities such as Mubadala and Emirates Aluminum, showcased the country’s robust investment portfolio in the US. With assets exceeding US$38.1 billion, UAE investments continue to play a pivotal role in sectors crucial to both economies.

This participation reaffirms the UAE’s status as the largest Arab investor in the US, supporting job creation and enhancing export capabilities. The delegation’s engagement at the SelectUSA Investment Summit underscores its proactive approach to fostering economic partnerships and exploring new avenues for growth in the American market.