Page 189 - MOE ENGLISH PR REPORT - JUNE 2024

7/1/24, 3:46 PM UAE participates in SelectUSA Investment Summit
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

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