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5/30/24, 8:42 AM H.E. bin Touq meets with Miami Business Council members as well as senior officials & investment funds - Middle East News 247
H.E. Bin Touq highlighted the robust and longstanding bilateral ties between the UAE and the

state of Florida, which is witnessing continuous growth in the economic and investment
sectors. Florida’s exports to the UAE reached approximately USD 6.3 billion from 2019 to

2023, marking a remarkable annual growth of 39 per cent and reaching USD 1.9 billion in

2023. Furthermore, the economic partnership between both sides has resulted in the creation

of 14,500 job opportunities in the past year.

H.E. said: “We consider the American private sector a significant economic partner of our

country’s business sector. Under the guidance of both countries’ leaderships, we are fully

confident that the economic and investment collaboration will continue to advance and thrive.”

Strengthening of economic ties with Miami

During the meeting, H.E. said: “Miami is strategically situated, serving as a vital link to the

Caribbean, Central and South America. With a stable and adaptable financial market, our

priority lies in strengthening economic ties with Miami across the government and private
sectors. Our aim is to explore promising prospects in areas such as the new economy,

creative industries, technology and artificial intelligence in both markets. We strive to embrace

innovative economic solutions that support the growth and sustainability of our economies.”

Diversity of the UAE Economy

The Minister of Economy elaborated on various strategies and visions implemented by the
UAE in recent years to diversify and sustain its national economy. This is of particular

significance as the non-oil sectors now contribute 74 per cent to the non-oil GDP, positioning

the UAE at the top spot among the fast-growing economies among both the Gulf and Arab
countries. Furthermore, the UAE has outpaced several prominent global economies. In the

first half of 2023, it secured the top ranking globally for economic strength and stability,

according to the Global Soft Power Index for 2024.

UAE’s Flexible Economic Legislations

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