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Press Release

H.E. Bin Touq reviews UAE's new economic model duri ng his

meeting with Chairman & CEO of Morgan Stanley

Minister of Economy reiterates commitment to strengthening cooperation and fostering

productive partnerships with global financial institutions and firms

Abu Dhabi, 23 May 2024:

H.E. Abdullah bin Touq Al Marri, Minister of Economy, paid a visit to the headquarters of Morgan
Stanley in New York City, the prominent global banking and investment firm. H.E. was welcomed
by Mr. James P Gorman, Chairman and CEO of the company. In a meeting that followed, they
discussed opportunities for collaboration to strengthen investments, enhance financial services, and
to offer solutions that promote sustainable economic development as part of Morgan Stanley's
ongoing initiatives.

During the visit, H.E. also held a roundtable meeting with several prominent investors to explore
investment opportunities and potentials in the financial markets of the UAE and the USA. In
addition, H.E. Bin Touq participated in the Abu Dhabi Securities Exchange Conference alongside
Morgan Stanley, in the presence of H.E. Ghannam Butti Al Mazrouei, Chairman of the Abu Dhabi
Securities Exchange.

During the interactions, H.E. reiterated the UAE’s commitment to strengthening cooperation and
fostering productive partnerships with global financial and business institutions and major
investment funds. These efforts aim to boost the competitiveness of the UAE’s business landscape,
support the ongoing modernization of economic legislation, and solidify the country’s status as a
leading global hub for business and investment. H.E. highlighted the crucial role that Morgan
Stanley and international banks play in supporting these efforts and encouraging investments in
rapidly expanding sectors, facilitating the shift towards innovative and flexible economic models.

During the meeting, H.E. Bin Touq discussed the UAE’s new economic model based on knowledge
and innovation and its role in ensuring resilience in the face of current global challenges. It also
contributes to accelerating the diversification of the national economy, especially since the
contribution of non-oil sectors to the UAE's GDP has reached 74 per cent. This model has also

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