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UAE-United States bilateral ties flourishing

Staff writer |
Bilateral relations between the UAE and U.S. are growing steadily and are set to witness further progress, UAE Minister of Economy Sultan bin Saeed Al Mansouri said during a meeting with U.S. Secretary of Commerce Penny Pritzker.

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The two officials discussed promising opportunities and avenues, mainly key economic sectors like knowledge economy, that could deepen bilateral cooperation that have not been harnessed yet, given the US' status as the world's largest economy and UAE as the second-largest Arab economy.

U.S. ranks as Dubai's third-largest trade partner globally and non-oil trade between them was Dh86 billion last year while over the past decade, total non-oil trade increased by 500 percent.

Mr. Al Mansouri said that opportunities for joint cooperation in renewable energy were promising in light of the fact that the UAE, despite being a key oil producer, has become an industry leader in a short span of time and its impressive experiment has provided inspiration to many countries including advanced ones. He said World Expo 2020 in Dubai would generate huge investment opportunities for both local and foreign investors and businessmen including those from the US.

Ms. Pritzker said UAE-U.S. relations were witnessing accelerating expansion at a time when the UAE is investing heavily in infrastructure and transport systems. She added that companies escorting her on the UAE trip were interested in investing in the UAE and the region.

Ms. Pritzker noted that the UAE winning the bid to host Expo 2020 in Dubai had not come from a vacuum, rather from the good reputation of the UAE and its ability to surprise the world by hosting an exceptional edition of the World Expo. She praised the U.S. trade ties with the UAE as "flourishing", inviting US companies to tap investment opportunities on offer in the UAE market.

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