Page 159 - MOE ENGLISH PR REPORT - JUNE 2024

During his meeting with Secretary Raimondo, Al Zeyoudi reaffirmed the importance

of economic relations with the US, which is the UAE’s third-largest global trade

partner and accounts for 27 percent of America’s non-oil trade with the Arab World.

In 2023, the two nations shared bilateral trade worth $40 billion, a 20.1 percent

increase on the previous year and 50.2 percent growth compared to 2019. The pair

discussed areas of mutual interest, including the ongoing collaboration on renewable

energy development.

At the SelectUSA Investment Summit, which is hosted by the US Department of

Commerce and brings together public officials and corporate leaders, Al Zeyoudi

also met Governor Phil Murphy of New Jersey to discuss how UAE-based

businesses, investors and family offices can either enter or expand their presence in

the US market in areas of mutual interest, such as clean energy, logistics,

infrastructure development and advanced technology.

The Summit’s workshops and seminars also enabled the delegation to learn about

the various investment opportunities across the USA, enabling them to identify

potential areas for collaboration and the means to access them.

Addressing attendees from the US business community at a session organized by

the UAE-US Business Council, Al Zeyoudi said: “The United States of America

remains one of our most trusted international allies and a vital trade and investment

partner. Our relationship is not only strong and enduring, it continues to find

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