UAE-US Reliable Partners: Strong relationship to strengthen US investment in the UAE

UAE-US Reliable Partners: Strong relationship to strengthen US investment in the UAE
Sheikh Abdulla bin Zayed Al Nahyan, UAE Minister of Foreign Affairs and International Cooperation, with Mike Pompeo, US Secretary of State.

The UAE remains the United States' largest trade partner in the MENA region for the 10th consecutive year



by

Suchitra Steven Samuel

Published: Thu 4 Jul 2019, 10:08 AM

Last updated: Thu 4 Jul 2019, 12:30 PM

Strong bilateral ties bind the United States and the UAE. "We have established strong government-to-government and people-to-people ties. US-UAE co-operation extends to our governments, our militaries, our educational systems, our cultures, our businesses and, most importantly, our people.

"These successes have culminated in more than $24 billion in annual bilateral trade in goods and services in 2018 and increased interaction and engagement through economic and educational opportunities for the people of both our countries," according to the Embassy of the United States in the United Arab Emirates. Excerpts from an interview with Khaleej Times:
Latest trade figures
The UAE remains the United States' largest trade partner in the Middle East and North Africa (MENA) region for the 10th consecutive year, with over $24 billion in total bilateral trade recorded in 2018. The UAE is the largest investor in the United States from the GCC and the Arab world, injecting $26 billion of foreign direct investment (FDI) into the United States.
UAE investors attending SelectUSA Investment Summit announced $650 million in new business projects within five years of attending, a testament to the investment opportunities the United States has to offer. The top sectors for UAE investment include financial services, transportation, consumer products, and aerospace.
High-level US visits to the UAE
US Secretary of State Mike Pompeo visited the UAE three times in the last year. Second Lady of the United States Karen Pence led the US delegation participating in the Special Olympics 2019 Abu Dhabi World Games.
Those are just two examples of the ongoing and frequent visits by senior US government officials to the UAE, reflecting the depth of our relationship.
People-to-people ties
The US Mission in the UAE is committed to increasing the educational ties between UAE students and the United States. Around 2,500 Emirati students are currently pursuing higher education in the United States, attracted by the flexibility and diversity of American institutions.
This diversity offers students options to specialise in a variety of academic disciplines and even gain employment training. More than 4,500 accredited institutions make up US higher education in the United States.
The US Embassy in Abu Dhabi and the Consulate General in Dubai regularly host American education fairs to bring information directly to students in the UAE, enabling them to select the best American university for their needs.
EducationUSA UAE mobile application
Launched in May 2019, the EducationUSA UAE mobile app supports students wishing to pursue higher education in the United States. The app provides information about university education in the United States, including "Your 5 Steps to US Study."
The application offers a free guidebook, content, and resources for prospective students about studying in the United States, while making it easy to connect with EducationUSA advisers in the UAE. The app is available on Android and IOS, and it is free of charge.
SelectUSA Investment Summit 2019
The SelectUSA Investment Summit brings together companies from around the world and economic developers from across the US to help establish connections that will lead to business investment projects.
This year, SelectUSA brought together 3,300 business leaders and economic development officials from 79 global markets and 49 US states and territories. We were pleased that the UAE sent the largest delegation from the Middle East, led by Minister of Economy Sultan bin Saeed Al Mansouri.
Steps to protect intellectual property (I.P.)
The US Mission in the UAE coordinates closely with the UAE government on I.P. issues. Together, we are working on growing and strengthening US investment in the UAE and combatting the restricting influence of counterfeit trade.
Counterfeit trafficking impairs economic competitiveness by diminishing the reputations and trustworthiness of markets. It cheats consumers and poses risks to their health and safety. And, it may threaten national security and public safety through the introduction of counterfeit goods destined for critical infrastructure and defence supply chains.
Intellectual property protection is also critical to fostering innovation. Without the protection of ideas, businesses and individuals will not reap the full benefits of their inventions, leading them to focus less on research and development.
 - suchitra@khaleejtimes.com


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