The UAE’s Minister of State for Foreign Trade, Dr. Thani bin Ahmed Al Zeyoudi, recently concluded his visit to San Francisco and nearby Silicon Valley, which aimed to boost UAE-U.S. economic cooperation and explore partnerships in the technology and innovation sectors.
Dr. Al Zeyoudi held several discussions with stakeholders, leading technology companies and local entrepreneurs. During the discussions, he sought to identify potential partnerships in high-priority fields such as artificial intelligence (AI), machine learning and climate technology.
Collaboration in cutting-edge disciplines
In addition, the minister outlined the UAE’s advanced technology ambitions and investment-friendly business environment, extending an invitation to U.S. investors, startups and skilled professionals to explore its expansion opportunities.
Dr. Al Zeyoudi discussed with U.S. stakeholders joint projects, research collaboration, and exchanging knowledge and expertise in emerging disciplines such as AI, data analytics and sustainable technologies.
The minister’s visit to the U.S. underlines the UAE’s commitment to securing global partnerships that accelerate its industrial and technological capabilities. Moreover, it restates the country’s goals of further bolstering its position as a destination for investment and innovation.
“The West Coast of the U.S. is the global epicenter of technology and innovation, and the UAE has much to gain from closer ties to Silicon Valley’s vibrant ecosystem,” stated Dr. Al Zeyoudi.
He added that this visit falls in line with the UAE’s efforts to establish long-standing partnerships in the private sector, public sector and academic levels. Moreover, it leverages the U.S.’s knowledge and experience and accelerates 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,” he added.
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U.S. is the third-largest trading partner globally
The U.S. is the UAE’s third-largest trading partner globally, accounting for 5.6 percent of the country’s total non-oil trade. In addition, the UAE is the U.S.’s most important trading partner in the Arab world, with bilateral trade comprising 27 percent of the USA’s non-oil trade with the region.
Furthermore, the UAE has $38.1 billion in assets in the U.S., which is more than 50 percent of the total FDI from Arab countries in the U.S. at the end of 2022. These investments are mainly in transportation, business services, software and IT services, real estate, food and beverages, and aerospace.
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