Trade between UAE and US reached nearly $26 billion in 2016


Trade between the UAE and US reached nearly $26 billion (Dh95.5bn) in 2016, said the president of the US-UAE Business Council on Tuesday.

Danny Sebright addressed the booming military and trade relations between the two countries during a gathering hosted by the council and the UAE embassy in Washington. He said that trade numbers “more than doubled”.

Commenting on the close-knit relations in defence, Mr Sebright noted that the UAE was the only Arab country to participate with the US in six coalition actions over the last 20 years, including operations in Afghanistan, Somalia, Bosnia-Kosovo, 1990 Gulf War, and the fight against ISIL.

He addressed the May 2017 US-UAE Defense Cooperation Agreement (DCA) on expanding co-operation in key defence and security arenas, saying that although the DCA is meant to last at least 15 years, the intent at signing is for it to “last indefinitely”.

Saud Al Nowais, commercial attaché for the UAE to the US, said there has been increased co-operation between the two countries in trade, education and health.

“The UAE is the largest export market for US goods and services in the entire Middle East,” he said, adding that more than $22 billion worth of American goods and services have made their way to the emirates in the last year.

“Over 1000 American companies operate today out of the UAE, these are companies in all sorts of sectors … from Krispy Kreme to Boeing to many start-ups and small and medium enterprises,” said Mr Al Nowais.

Tareq Abdul Raheem Al Hosani, chief executive of Tawazun Economic Council — an Abu Dhabi-based organisation to facilitate joint ventures between local and international firms — voiced hope for continued US-UAE cooperation.

Mr Al Hosani also highlighted the recent release of a report that serves as reference for anyone wanting to better understand the origins of the relationship between the US and UAE.

An Enduring Partnership: The US-UAE Defence and Security Relationship, which was previously published in February 2017, was updated and released again earlier this month.

The gathering on Tuesday honoured military officials and other representatives in the defence industry.

The reception, which took place on the margins of the annual meeting and exposition for the Association of the United States Army, was opened by UAE ambassador to the US Yousef Al Otaiba and Mr Sebright.

Those present included UAE Land Forces Commander Maj Gen Saleh Al Ammri, Maj Gen Stephen Toumajan, commander of the Joint Aviation Command, and Gen Mohammed Hilal Al Kaabi, as well as Pentagon officials.

Also present were members of Mubadala Aerospace, Tawazun Economic Council, International Golden Group (IGG), Emirates Defense Technology (EDT), NIMR Automotive, and Emirates Defence Industries Company (EDIC).

 

Source www.thenational.ae

 

Be the first to comment at "Trade between UAE and US reached nearly $26 billion in 2016"

Write your comment

Your email will not be published


*