Page 112 - MOE ENGLISH PR REPORT - JUNE 2024

7/1/24, 4:17 PM UAE to strengthen ties in technology sector with US
our efforts to establish long-standing

partnerships at both the private-sector,

public-sector, and academic levels to

leverage their knowledge and experience

and accelerate the UAE’s technological

capabilities. Technology is a key pillar of Dr. Thani bin Ahmed Al Zeyoudi
UAE Minister of State for Foreign
Trade
our economic growth and diversification

agenda and it’s vital we can build productive and mutually

beneficial relations with the world’s leading exponents.”

Dr. Al Zeyoudi’s visit to the US underlines the UAE’s commitment to securing

global partnerships to accelerate its industrial and technological capabilities and

to further bolstering the nation’s position as a destination for investment and

innovation.

The United States stands as the UAE’s third-largest global trading partner,

constituting 5.6 percent of the UAE’s overall non-oil trade. Further, the UAE holds

the position of America’s primary trading partner in the Arab World, with bilateral

trade representing 27 percent of the USA’s non-oil trade within the region.

As per the reports, “In terms of investments, the UAE has $38.1 billion in assets in

the US, which is more than 50 percent of the total FDI from Arab countries in

America at the end of 2022. These investments are mainly in transportation,

business services, software and IT services, real estate, food and beverages, and

aerospace.”

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