UAE officials also announced that they have signed a memorandum of understanding with the US Department of Commerce, which will strengthen cooperation between the UAE and the United States in the areas of digital economy, innovation and entrepreneurship.
The MOU will foster closer bilateral collaboration in key areas that drive economic growth and diversification in the UAE. These include policy development, intellectual property rights, policy exchanges and dialogues, as well as networking and twinning for entrepreneurs from both countries.
“New initiatives and greater cooperation with the United States will improve the United Arab Emirates’ position as from the Middle-East preferred business center, ”said Saud Al Nowais, United Arab Emirates Trade Attaché to the United States “Together, the United Arab Emirates and the United States will continue to play an important role in a comprehensive and rapid global recovery and develop globally competitive United Arab Emirates trade sectors. “
Members of the United Arab Emirates delegation visited Indiana, Maryland, new York, and Virginia, where they met with senior state government officials and private sector executives and discussed ways to deepen ties and promote increased economic development and investment.
The United Arab Emirates is already the United States’ largest export market in the Middle East region and a significant investor in the US economy. In 2020, the United States had a $ 11.68 billion trade surplus with the United Arab Emirates, the fourth largest US trade surplus in the world. The United Arab Emirates are United States’ the largest export market in Middle East, with over $ 15 billion in exports in 2020 – the twelfth year in a row, the UAE holds this distinction.
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SOURCE Embassy of the United Arab Emirates