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(Menaffin– Middle East.Info)
Washington, DC: United Arab Emirates (UAE) Minister of State for Foreign Trade Dr. Tani bin Ahmed Zeyudi at SelectUSA Investment with U.S. Commerce Secretary Gina Raimondo and Michigan Governor Gretchen Whitmer Expanding UAE-US trade and business activities was discussed during the bilateral meeting at the Summit, the largest foreign direct investment event in the US.
Minister Al Zeyoudi, who serves as SelectUSA’s UAE government representative, interacted with business leaders, industry experts and exhibitors during his one-day conference visit. The event was attended by an extensive UAE business delegation, including 19 companies and 24 delegates, as well as representatives from the UAE Ministry of Economy. Minister Zeyoudi also participated in an extensive programming workshop organized by SelectUSA, which included presentations by US government and business leaders.
Minister Al Zeyoudi also played a leading role in a series of high-level events during his trip to Washington, DC. The minister delivered a keynote speech at a business luncheon hosted by the US-UAE Business Council, participated in an open discussion panel hosted by the Abraham Accords Peace Institute with experts from the think tank community, and met with the newly formed Abraham Congress Leaders Consent Caucus .
“According to SelectUSA, the UAE’s foreign direct investment in the US was US$44.7 billion in 2020, and this number will only increase. Participating in the SelectUSA Investment Summit will only strengthen my government’s strong commitment to this market,” said the UAE Minister of State for Foreign Trade Minister Tani bin Ahmed Al Zeyoudi said. “During our meetings with Commerce Secretary Raimondo and Michigan Governor Whitmer, we discussed deepening this economic relationship with an emphasis on the tech sector and clean energy investment.”
In 2021, bilateral trade will total $23.03 billion, with the United States exporting more than $17 billion in goods and services to the UAE, a 16 percent increase over 2020. The resulting trade surplus of $11.13 billion is the sixth-largest U.S. trade surplus globally. 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 US states and supports more than 123,000 US jobs, reinforcing the importance of ongoing bilateral trade relations.
Minister Al Zeyoudi also participated in the Smithsonian Folk Festival at the National Mall. Titled “United Arab Emirates: Living Landscape | Living Memory”, the festival highlights events featuring Emirati culture, art, music and food. Minister Al Zeyoudi met Emirati exhibitors and spoke with American tourists while visiting the festival.
Prior to his arrival in Washington, Minister Zeyudi traveled to Florida to participate in high-level business development, networking events and conferences hosted by the US-UAE Business Council, the International Trade Confederation (ITC), Enterprise Florida, an initiative to promote economic development A public-private partnership in Florida and eMerge Americas, an organization focused on making Miami the tech hub of the Americas.
Minister Al Zeyoudi met with Broward County Mayor Michael Udine. Lauderdale Mayor Dean Trantalis, Miramar Mayor Wayne Messam and Miami-Dade County Commission Chair Jose “Pepe” Diaz.
Leaders discussed ways to strengthen cooperation between the UAE and Florida, focusing on investment, tourism, urban planning and healthcare. Ahead of these meetings, a delegation of Florida mayors traveled to Sharjah, Abu Dhabi and Dubai in March, where they engaged with the UAE business community and participated in the closing events of Expo 2020 Dubai, including a visit to the US Pavilion.
During his visit to the UAE in March, Miami Mayor Francis Suarez signed a sister city agreement with His Excellency Abdullah Albasti, Secretary General of the Dubai Executive Council, deepening the connection between the two cities of Dubai and Miami. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, attended the signing ceremony.
In 2021, Florida exported over $1 billion in goods to the UAE, making it one of the top 10 states exporting to the UAE. These exports support about 6,000 U.S. jobs. The UAE also exported more than $180 million in merchandise to Florida in the same year.
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