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UAE trade minister after speaking at the SALT New York conference attended by the global investment and financial community Abdullah bin Touk visited Harvard University Discussion with future UAE and US leaders
Washington, September 19, 2022 /PRNewswire/—— United Arab Emirates (UAE) Minister of Economy HE Abdullah bin Touk al-Mari Addressing more than 2,000 global investors, entrepreneurs, policymakers and industry leaders at the SALT New York conference, he praised the UAE as a hub for business expansion, trade and economic growth.
Utah Governor Spencer Cox and legislative leaders from the Utah Senate and House of Representatives, as well as business and community leaders from key industries, visited the UAE to explore opportunities to enhance trade and expand collaboration across various other sectors.
Utah Governor Spencer Cox and legislative leaders from the Utah Senate and House of Representatives, as well as business and community leaders from key industries, visited the UAE to explore opportunities to enhance trade and expand collaboration across various other sectors.
Utah Governor Spencer Cox and legislative leaders from the Utah Senate and House of Representatives, as well as business and community leaders from key industries, visited the UAE to explore opportunities to enhance trade and expand collaboration across various other sectors.
Minister Bin Touq and HE participated Muhammad Ali Al Shorafa Al HammadiChairman of the Abu Dhabi Department of Economic Development, highlighted the UAE’s open and welcoming attitude towards the international business community. Expanding foreign trade relations is a core pillar of the UAE’s strategic plan to stimulate sustainable economic growth.
“The UAE is demonstrating through action that our country is open for business,” the UAE Minister of Economy said. Abdullah bin Touk. “In less than a year, we have successfully India, Israel, Indonesiaand ColombiaThese trade deals will expand our country’s gross domestic product, increase UAE exports to new markets, and create meaningful new jobs. The UAE government is committed to our comprehensive economic growth plan. “
Minister Bin Touq and Chairman during the SALT New York Conference alsholafa Promote the UAE government’s Investopia initiative, which aims to highlight investment opportunities in future industries. This work includes building capacity in digital and virtual technologies, expanding investments in artificial intelligence and space exploration, and a green economy.
Minister Bin Touq noted that in 2021, the UAE’s foreign trade will increase by 27% compared to 2020 and by around 11% compared to pre-pandemic levels in 2019.UAE economy is one of the most diverse in the world middle Eastnational non-oil exports rose 47.3% from the pre-pandemic average.
Total UAE-US bilateral trade in 2021 $23.03BU.S. exports more than $17B Goods and services to the UAE – 16% more than in 2020. $11.13B The U.S. trade surplus is the sixth largest in the world. The trade relationship reflects the success of the growing diversification of the UAE economy, with the non-oil sector accounting for 70% of the UAE’s GDP.
Top categories of U.S. exports in 2020 include: electronics, nuclear materials, passenger cars, and aircraft and spacecraft. The UAE trades with all 50 states in the United States. Trade with the UAE supports more than 123,000 U.S. jobs, reinforcing the importance of an ongoing bilateral trade relationship.
Before returning to the UAE, Minister Bin Touq went to Boston, Massachusetts There, he met top scholars from world-renowned universities Harvard Business School and Harvard Kennedy School government, including Dean Douglas Elmendorf. The visit to Harvard includes a public lecture on Harvard’s future economic potential. middle EastMinister Bin Touq met with Emirati and American students at Harvard at the end of his visit, where he discussed the UAE government’s priorities for attracting world-class talent to the UAE.
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source embassy United Arab Emirates
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