Page 125 - MOE ENGLISH PR REPORT - JUNE 2024

7/1/24, 4:19 PM Minister Al Zeyoudi visits Silicon Valley to strengthen UAE-US ties in technology, innovation sectors
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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.

Of the visit, the minister remarked, "The West Coast of the US is the global epicentre

of technology and innovation, and the UAE has much to gain from closer ties to

Silicon Valley's vibrant ecosystem. This visit is an important part of 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 our economic growth and

diversification agenda and it's vital we can build productive and mutually beneficial
relations with the world's leading exponents."

The United States is the UAE's third-largest trading partner globally, accounting for

5.6 per cent of the UAE's total non-oil trade. The UAE is America's most important
trading partner in the Arab World, with bilateral trade comprising 27 per cent of the

USA's non-oil trade with the region.

In terms of investments, the UAE has US$38.1 billion in assets in the US, which is

more than 50 per cent 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. (ANI/WAM)

https://www.aninews.in/news/world/middle-east/minister-al-zeyoudi-visits-silicon-valley-to-strengthen-uae-us-ties-in-technology-innovation-sectors2024… 3/3