UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan will commence his official visit to the U.S. on Monday, the first since assuming the presidency of the UAE. Sheikh Mohamed will discuss the historical ties that link the UAE and the U.S., which date back more than 50 years, with President Joe Biden.
Boosting strategic partnership in key sectors
The two presidents will explore opportunities to further enhance bilateral cooperation and boost the UAE-U.S. strategic partnership, particularly in key areas including the economy, investment, technology, artificial intelligence, space, renewable energy, climate action, sustainability solutions, and other aspects that advance both nations’ vision for a more prosperous future for all.
During the visit, Sheikh Mohamed will meet with a number of U.S. officials to discuss ways to develop UAE-U.S. relations at all levels. The two parties will also exchange views on various regional and international issues of mutual interest.
The UAE President’s visit to the U.S. comes amid growing ties between the two nations where bilateral non-oil trade between them reached an all-time high of $31.4 billion in 2023. In addition, Dubai is home to over 700 U.S. companies, over 45 percent of the 1,500 American businesses in the UAE.
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Key trading partners
Notably, 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 U.S.’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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