Tuesday, July 16, 2024
Today’s News

Participates in Select USA Investment Summit from the UAE

The US Secretary of Commerce, Gina Raimondo, and Minister of State for Foreign Trade, Dr. Thani Bin Ahmed Al Zeyoudi, have met in Washington, DC, to discuss enhancing bilateral trade and investment relations.

Along with Yousef Al Otaiba, the UAE’s ambassador to the US, Dr. Al Zeyoudi led a delegation of government officials and business executives from the UAE to the 10th SelectUSA Investment Summit, which encourages and facilitates business investment in the US, to investigate potential growth prospects for the UAE private sector. Al Zeyoudi, who met with Secretary Raimondo, underlined the value of the US economy. The US is the UAE’s third-biggest trading partner worldwide and contributes 27% of US non-oil trade with the Arab world.

Bilateral trade between the two countries was valued at US$40 billion in 2023, up 20.1% from the year before and 50.2% from 2019. The two discussed Mutually exciting topics, such as their continued cooperation on the advancement of renewable energy.Al Zeyoudi also met Governor Phil Murphy of New Jersey at the SelectUSA Investment Summit, organized by the US Department of Commerce, bringing together corporate executives and public officials. The two men discussed ways that investors, family offices, and businesses based in the United Arab Emirates can either enter or increase their presence in the US market in areas of mutual interest, such as advanced technology, clean energy, logistics, and infrastructure development.

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Tuesday, July 16, 2024

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