In a bid to bolster ties between the UAE and the U.S., His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, welcomed Robert Raines, U.S. Consul-General for Dubai and the Northern Emirates, and a high-level delegation from the U.S.-UAE Business Council, led by its president, Danny E. Sebright, recently in Ras Al Khaimah.
Sheikh Saud and the consul-general discussed the growing trade and investment relations between the UAE and the U.S., exploring ways to further strengthen cooperation and strategic partnerships across various economic and trade sectors, and lay the groundwork for enduring progress and prosperity for Ras Al Khaimah and the U.S.
Strategic partnerships in key sectors
Senior business leaders and government officials from Ras Al Khaimah briefed Sheikh Saud, the consul-general, and U.S.-UAE Business Council representatives on the emirate’s ambitious development goals and thriving business environment, highlighting further opportunities for investment.
“Ongoing dialogue is integral to deepening the strong bond between Ras Al Khaimah and the United States, not only through enhanced trade but also by strengthening the human connections that drive our shared prosperity. By fostering collaboration between our nations and businesses, we are laying the foundation for a future of greater innovation, economic growth, and mutual understanding,” stated Sheikh Saud.
Senior executives of leading U.S. companies, including Deloitte, General Motors, PwC, Boeing, and Oracle, and high-level officials from the U.S. embassy in Abu Dhabi and its consulate in Dubai also attended the briefing.
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UAE-U.S. trade and investment ties
The briefing comes following President Sheikh Mohamed bin Zayed Al Nahyan’s official visit to the U.S., which highlighted the strategic partnership between the two countries.
The strong economic ties between the two nations are reflected in the substantial rise in non-oil foreign trade, which surged to $39.5 billion in 2023 from $23.8 billion in 2022.
In 2023, UAE imports from the United States reached $25.9 billion, up from $21.3 billion in 2022. Meanwhile, UAE exports to the U.S. increased from $3.2 billion in 2022 to $3.9 billion in 2023. Additionally, UAE re-exports to the U.S. rose to $9.6 billion in 2023, compared to $8.2 billion the previous year.
Between 2018 and 2023, UAE investments in the U.S. totaled $3.7 billion, while U.S. investments in the UAE amounted to $9.5 billion. Key sectors for UAE investment in the U.S. include renewable energy, telecommunications, energy, real estate, software services, and information technology.
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