Monday 18 June 2018

Sultan bin Saeed Al Mansouri

UAE-US non-oil trade tops $30bn in 2016

ABU DHABI, August 22, 2017

Non-oil trade between the UAE and the US increased to more than Dh111.1 billion ($30.3 billion) in 2016, against $27.8 billion in 2015, said Sultan bin Saeed Al Mansouri, UAE Minister of Economy.

The figure included free zone trade as well, said a Wam news agency report.

"UAE-USA economic relations are based on mutual trust, respect and common interest, and they are progressively growing for the higher good of both countries," added the minster at a meeting with the US Ambassador to the UAE Barbara A Leaf and her accompanying delegation, in the presence of top executives from the Ministry of Economy.

Al Mansouri reiterated the UAE government's keenness to continue creating a business-friendly investment conducive to streamlining economic investment and utilising the immense potential boasted by the countries to their best interests, noting that US investments in the UAE have improved over the past years, reaching around $7 billion in 2015.

A total of 305 US companies have been operating in the UAE until 2015, excluding free-zone firms, in addition to 676 trade agencies and 38,290 brands, which translates to robust growth in bilateral ties, he added.

The US Ambassador highlighted the importance US attached to advancing relations with the UAE across all areas of common concern, noting that the developmental economic model forged by the UAE and the achievements made by the country significantly contributed to strengthening bilateral relations.

She underscored the significance of intensifying channels of collaboration and coordination between the two sides to remove any obstacles and potential challenges, the report said.

Tags: UAE | US | Trade | non-oil |

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