UAE Minister Thani bin Ahmed Al Zeyoudi Visits Washington DC to Strengthen Trade Ties with US
Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade, visited Washington DC to discuss enhancing trade and investment relations with Gina Raimondo, the US Secretary of Commerce. Accompanied by Yousef Al Otaiba, the UAE Ambassador to the US, Al Zeyoudi led a delegation to the 10th SelectUSA Investment Summit.
Key Discussions and Meetings
During his meeting with Secretary Raimondo, Al Zeyoudi emphasized the importance of economic relations with the US, noting that the US is the UAE’s third-largest global trade partner. In 2023, bilateral trade between the two nations reached US$40 billion, marking a significant increase from previous years. They discussed mutual interests, including renewable energy development.
At the SelectUSA Investment Summit, Al Zeyoudi met with Governor Phil Murphy of New Jersey to explore opportunities for UAE businesses in the US market, focusing on clean energy, logistics, infrastructure development, and advanced technology.
UAE’s Investment in the US
The UAE is the largest Arab investor in the US, with assets exceeding US$38.1 billion. Over the past five years, UAE investments in the US have grown by US$12 billion, primarily in transportation, business services, and ICT sectors. UAE-owned firms employ over 24,300 US workers and contribute significantly to US exports.
Delegation and Participants
The UAE delegation included over 65 participants, such as Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment, and Juma Mohammed Al Kait, Assistant Undersecretary of the Ministry of Economy for Foreign Trade Affairs. Senior executives from various government and private sector companies also participated, including the Abu Dhabi Investment Office, Sharjah Research, Technology and Innovation Park, and Emirates Nuclear Energy Corporation.
Al Zeyoudi highlighted the strong and enduring relationship between the UAE and the US, emphasizing the commitment to finding new avenues of cooperation and building partnerships to further economic diversification ambitions.
