POST Online Media Lite Edition



 

U.S.-UAE non-oil trade reached $30.3 billion

Staff Writer |
Non-oil trade between the UAE and the USA hit more than AED111.1 billion ($30.3 billion) by the end of 2016, including free zone trade, against $27.8 billion in 2015, said Sultan bin Saeed Al Mansouri, Minister of Economy.

Article continues below






"UAE-USA economic relations are based on mutual trust, respect and common interest, and they are progressively growing for the higher good of both countries," added the minster at a meeting with the USA Ambassadress to UAE Barbara A. Leaf and her accompanying delegation, in the presence of top executives from the Ministry of Economy.

Minister Al Mansouri reiterated the UAE government's keenness to continue creating a business-friendly investment conducive to streamlining economic investment and utilising the immense potential boasted by the countries to their best interests, noting that US investments bound to the UAE have tangibly improved over the past years, hitting around $7 billion in 2015.

A total of 305 US companies have been operating in the UAE until 2015, excluding free-zone firms, in addition to 676 trade agencies and 38,290 brands, which translates the robust growth in bilateral ties, he added.


What to read next

Inter-Korean trade up 104% to $20 billion yearly
France's trade gap narrows in April for less buying
Netherlands has seventh largest trade surplus in the world