Washington DC, 30 June 2022 (TDI): Dilawar Syed, Special Representative for Commercial and Business Affairs of the United States of America (USA), met with Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade of the United Arab Emirates (UAE).
They met in the framework of the Select USA Investment Summit 2022, which ran from June 26 until June 29. The annual meeting aimed to promote foreign direct investment (FDI) in the USA.
The summit offered an ideal environment for investors of all kinds, from small or medium-sized enterprises to big multinationals. Attendees got to learn how to invest in the US and make valuable contacts.
The UAE Minister traveled to the USA specifically to attend the event which took place in Maryland. Nevertheless, he and his delegation met with Representative Syed in Washington DC.
USA and UAE bilateral relations: An Overview
Bilateral relations between both countries started in December 1971, when the UAE was established. Diplomatic relations between both nations began in 1972. In June 1974 the first US Embassy was opened in Dubai.
The UAE is the US’ main export market in the Middle East. All 50 states trade with the United Arab Emirates.
Additionally, more than one thousand US companies have operations in the UAE. In fact, multiple American companies have headquarters in the UAE.
Similarly, UAE’s investments contribute significantly to the American economy. In 2019, FDI coming from the UAE came to more than $26 billion.
Furthermore, Emirati FDI supports thousands of skilled jobs across America. In accordance with Select USA, in 2018 there were more than 11500 American workers, employed thanks to UAE’s foreign direct investment in the North American country.
It is in this successful context that the UAE Minister met with the US Representative.
Meeting at Washington DC
During the reunion, both parties discussed potential opportunities to reinforce trade relationships. Minister Al Zeyoudi qualified the UAE-US partnership as vital.
He also affirmed the importance of strengthening trade relationships between both nations. As Representative Syed mentioned in his official Twitter account.
The UAE is a crucial economic partner for the US. He is thrilled to see that FDI from the UAE is growing day by day.
A pleasure meeting Minister of State for Foreign Trade @ThaniAlZeyoudi and his delegation in Washington this week.
— Special Representative Dilawar Syed (@BizAtState) June 29, 2022
To sum up, the encounter was successful. On the occasion, UAE Minister met with the US Representative and both countries agreed on further developing their trade relations.