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UAE, US to strengthen partnership in ‘building the future’

Dubai - Annually, the UAE ranks as the United States’ largest destination for exports in the Mena region

The US is committed to being the UAE’s partner of choice when it comes to tackling the challenges posed by the Covid-19 pandemic and building the future, experts said at the UAE Virtual Infrastructure Summit.

The summit brought together several experts and officials as it explored the UAE’s 10-year vision for infrastructure development and priority sectors.

US Embassy Chief of Mission Chargé d’Affaires Sean Murphy, noted that there are ‘significant opportunities’ for US companies in the UAE. “As the UAE aims to be the hub and gateway for the region, and attract even more companies, the US stands ready to be the UAE’s partner of choice to share best practices, ideas, and aspirations to build the future together. After a year marked by unprecedented challenges and unprecedented resiliency, our governments are moving forward with further cooperation on many vital areas.”

He also said that the US looked forward to the launch of Expo 2020 in Dubai. “With millions of visitors expected, and more than 190 countries taking part, Expo 2020 Dubai is the place to make new business connections and open new markets and revenue streams. Expo 2020 Dubai will reimagine the global economy. The UAE is a dynamic economy with a very bright future; our two economies have much to share and there are true opportunities for US companies here in the UAE.”

UAE Minister of Economy Abdullah Bin Touq Al Marri said that the UAE and US’ bilateral trade relations have always been strong and dynamic. “As strategic allies, we continue to work together to protect our shared values and interests, and bring more peace and stability to the Middle East region. Our robust economy and trade and partnerships serve as the very cornerstone of this relationship. The UAE has been the United States’ number one export market in the region for 12 straight years.”

He also highlighted how the UAE has adopted an ambitious policy agenda to implement even more open and resilient regulations for markets. This will allow the UAE to further cement its leading position as a logistics hub for international trade and investments. “We believe that these policy reforms and initiatives will serve as an additional impetus for investors in the US private sector to enhance their presence in the UAE market.”

US acting under-secretary of Commerce for International Trade, Diane Farrell, added that this is an exciting time for the US, as the new administration looks to deepen bilateral ties with allies and strategic partners. “International cooperation is critical so we can work together to increase bilateral trade and investment that creates jobs and tangible benefits for our communities and citizens, as well as a cleaner and healthier environment.”

She noted that the US and the UAE have a vital strategic partnership. “Annually, the UAE ranks as the United States’ largest destination for exports in the Mena region. The UAE is also the Arab world’s largest investor in the United States. US companies are making significant contributions and investments in the UAE. More than 1,500 US companies have a presence in the UAE, and more will come as the country expands its hub for trade and the digital economy.”

rohma@khaleejtimes.com