Ambassador Al Otaiba Discusses Economic Cooperation with US
Yousef Al Otaiba, the UAE ambassador to the United States, recently attended a meeting in Washington, DC between UAE officials and US Secretary of Commerce Wilbur Ross. The meeting was held during UAE Minister of Economy Sultan bin Saeed Al Mansouri’s official visit to the United States, and also included the Under-Secretary of the Ministry of Economy for Foreign Trade Affairs, the CEO of Emirates Global Aluminum, and the Commercial Attaché for the UAE to the US. The two sides met to discuss ways to enhance economic cooperation between the UAE and the US.
The meeting consisted of discussions surrounding both the current relationship between the two economies and what will come in the next phase of development, with both sides seeing investment opportunities for the future. The meeting attendees recognized that the UAE and the US continue to support each other with a mutually beneficial trade relationship. The UAE is one of the most important markets for US exports, and foreign trade between the two countries is estimated to support nearly 120,000 US jobs.
The Minister also noted that the UAE’s direct investments in the US market total about $27.5 billion, which in turn has created thousands of jobs. The total value of UAE investments in the United States is estimated to be close to $100 billion. He emphasized the importance of the two countries continuing to meet and review the opportunities and challenges that face the UAE and the US.
Ambassador Al Otaiba is committed to using his time in Washington to further improve relations between the UAE and the US. He specifically cares about driving growth through the healthcare and technology sectors, and has supported initiatives that encourage cooperation between the two countries. The UAE-US economic partnership is fast-growing and reflects both countries’ openness to international trade and investment.