United States: The UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi has concluded a visit to Silicon Valley, close to San Francisco, to foster economic cooperation and investigate potential joint ventures between the United States and the UAE, particularly in the field of cutting-edge technology.
Dr. Thani conducted several talks with stakeholders, top tech firms, and regional business owners to find possible collaborations in high-priority areas like climate tech, machine learning, and artificial intelligence (AI).
The minister invited US investors, start-ups, and qualified individuals to investigate the UAE’s expansion prospects while outlining the country’s goals for advanced technology and its business-friendly climate in his discussions.
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Talks centered on working together on collaborative projects, sharing knowledge and skills in cutting-edge fields including artificial intelligence, data analytics, and sustainable technologies, and cooperating on research.
The UAE’s dedication to forging international alliances to advance its industrial and technological capabilities and to strengthen the country’s standing as a hub for innovation and investment is shown by Dr. Al Zeyoudi’s visit to the US.
Of the visit, the minister remarked, “The West Coast of the US is the global epicenter of technology and innovation, and the UAE has much to gain from closer ties to Silicon Valley’s vibrant ecosystem. This visit is an important part of our efforts to establish long-standing partnerships at both the private-sector, public-sector and academic levels to leverage their knowledge and experience and accelerate the UAE’s technological capabilities. Technology is a key pillar of our economic growth and diversification agenda and it’s vital we can build productive and mutually beneficial relations with the world’s leading exponents.”
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Having accounted for 5.6 percent of the UAE’s total non-oil commerce, the US is the country’s third-largest trading partner worldwide. With bilateral commerce making up 27 percent of the USA’s non-oil trade with the Arab World, the UAE is America’s most significant trading partner in the area.
By the end of 2022, the UAE’s assets in the US will have grown to US$38.1 billion, accounting for over half of all foreign direct investment (FDI) from Arab nations in the US.
Transportation, business services, software and IT services, real estate, food and drink, and aerospace make up the majority of these investments.