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UAE and U.S. Department of Commerce sign strategic partnership

Staff writer |
The UAE Ministry of Economy has signed a strategic partnership agreement with the U.S. Department of Commerce to promote cooperation in innovation and entrepreneurship.

The Memorandum of Understanding, MoU, was signed by Abdulla bin Ahmed Al Saleh, Under-Secretary for International Trade on behalf of the UAE, and by Stefan Selig, US Under-Secretary for Foreign Trade and Industry on behalf of the United States.

Sultan bin Saeed Al Mansouri, Minister of Economy, was present at the signing.

The newly signed agreement seeks to encourage and facilitate the exchange of innovation and entrepreneurship expertise, with a particular focus on strengthening innovation policy development.

In addition, it mandates the UAE's National Innovation Committee to oversee the execution of initiatives related to achieving this partnership.

As per the agreement, the UAE and the United States will identify mutually agreed upon priority sectors and deepening cooperative ties through building networks and successfully developing synergies among stakeholders of innovation and entrepreneurship, such as government institutions, business incubators, academic institutions and the wider business community.

The agreement also stressed the need to exchange information in the interest of protecting intellectual property rights as a core component of the partnership.

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