Page 186 - MOE ENGLISH PR REPORT - JUNE 2024

event that promotes and facilitates business investment in the US, to explore
expanding opportunities for the UAE private sector.

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% of America’s non-oil trade with the
Arab World.

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

increase on the previous year and 50.2% 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 productive new horizons, from collaboration in renewable energy to agri-

tech and advanced technology. Our visit to the States this week is a reflection of
our commitment to finding new avenues of cooperation and to building
partnerships at the public- and private-sector levels that further our economic

diversification ambitions. SelectUSA is not only the ideal platform to discover the
opportunities in the US market but to also to showcase the dynamism of the

UAE’s ecosystem, which is already home to more than 1,500 US companies.”

https://www.msn.com/en-ae/news/other/uae-participates-in-selectusa-investment-summit/ar-
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