(MENAFN- Dubai PR Network)
Total UAE investment in the US already tops $35 billion and Minister Al Zeyoudi's visit to CES underscores a commitment to further strengthening economic ties
In the first nine months of 2024, UAE-US bilateral non-oil trade reached US$28.3 billion.
Abu Dhabi, UAE, 9 January, 2025 :
His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, successfully concluded a visit to CES 2025, a premier global technology event held in Las Vegas, United States. Leading a high-level delegation of UAE government officials and business leaders, the visit emphasized the UAE's dedication to strengthening technology ties with the US and solidifying its status as a global hub for innovation, artificial intelligence (AI), and advanced technologies.
During his visit, HE Al Zeyoudi engaged with senior US officials, including Nevada Lt. Governor Stavros Anthony, and representatives from the Nevada Governor's Office of Economic Development, the US Chamber of Commerce, and the Las Vegas Chamber. Discussions centered on enhancing long-term UAE-US technology partnerships, exploring collaborative opportunities, and promoting the UAE's value proposition, which includes state-of-the-art infrastructure, a skilled talent pool, and a business-friendly ecosystem that serves as a gateway to rapidly growing markets in the Middle East, Africa, and Asia.
HE Al Zeyoudi said:“The UAE's dynamic tech ecosystem, bolstered by initiatives like NextGen FDI, offers fresh opportunities for US companies looking to scale their operations and access high-growth markets. Total UAE investment in the US already tops $35 billion, and officials from both countries are working together to create additional opportunities for businesses and investors. As we expand our partnerships in advanced technology, we aim to foster innovation, create jobs, and accelerate the adoption of next-generation technologies.”
Additionally, HE Al Zeyoudi participated in a panel discussion on current geopolitical trends and challenges, providing a positive outlook on global trade and highlighting the UAE's role in bridging markets and facilitating seamless trade flows. His Excellency highlighted that, through its Comprehensive Economic Partnership Agreement (CEPA) program, the UAE is actively expanding trade ties and fostering greater connectivity with strategic global markets.
During the three-day visit, His Excellency engaged with C-suite executives from leading tech companies specializing in AI, health, and automotive technologies, including major industry players, including Accenture, Qualcomm, the Consumer Technology Association, Skylo, and MGM Resorts International ®.
The US is the UAE's fourth-largest trading partner globally, accounting for 4.8% of the UAE's total non-oil trade. In the first nine months of 2024, bilateral non-oil trade reached US$28.3 billion, marking a 46.2% growth compared to the same period in 2019. The UAE is the US' most important trading partner in the Arab World, with bilateral trade comprising 27% of the US' trade with the region. In terms of investments, the UAE holds FDI US$35 billion in assets in the US, representing more than 50% of the total FDI from Arab countries in the US at the end of 2023. US investments in the UAE exceeded US$5 billion by the end of 2022.
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