The United States and the UAE reaffirmed their intention to pursue new economic, trade, investment and commercial opportunities at their seventh economic policy dialogue.
The UAE has been the largest export market for the US in the Middle East and North Africa for 11 consecutive years, with non-oil trade growing consistently in recent years.
The virtual meeting chaired by the UAE Ministry of Foreign Affairs and International Co-operation was attended by trade representatives and ambassadors from the two countries.
The trade relationship helps support more than 116,000 jobs in the US, which had a $15.6 billion (Dh57bn) trade surplus with the UAE last year – its third largest worldwide.
The US representatives lauded the UAE’s efforts to promote an open economic environment.
The UAE is ranked first in the Mena region and 16th out of 190 countries when it comes to the ease of doing business, according to the World Bank’s 2020 survey.
The two countries signed a trade and investment agreement in 2004 to promote formal dialogue on economic reform and trade liberalisation.
The agreement allows for the establishment of legal protection for investors and intellectual property rights, as well as greater transparency and efficiency in customs.
Discussions over a free-trade agreement began in 2005 and the countries remain committed to completing negotiations at a later date, the US Department of Commerce said.
During the seventh economic policy dialogue, the UAE raised concerns over steel and aluminium tariffs imposed by the administration of President Donald Trump.
Mr Trump announced 25 per cent tariff on steel and a 10 per cent levy on aluminium imports in 2018.
UAE companies such as Emirates Steel, one of the largest non-oil companies in the country, have expressed concerns over the tariffs.
The US imports around 26,000 tonnes of steel sections from the UAE manufacturer on an annual basis. New potential areas for economic co-operation in fields including food security, health security and healthcare research, space, customs and emerging technologies were highlighted during the virtual dialogue.
The two countries have held talks since 2012 to promote trade and investment.
The UAE has free trade agreements with Singapore and New Zealand.
It has also held talks with Argentina, Australia, Brazil, China, the European Union, India, Japan, Pakistan, Paraguay, South Korea, Turkey and Uruguay.
The UAE maintains a number of agreements with countries on the protection and promotion of investment and the prevention of double taxation.
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The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
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MATCH INFO
Liverpool 0
Stoke City 0
Man of the Match: Erik Pieters (Stoke)
THE SPECS
Engine: 6.0-litre, twin-turbocharged W12
Transmission: eight-speed automatic
Power: 626bhp
Torque: 900Nm
Price: Dh1,050,000
On sale: now
SPECS
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BUNDESLIGA FIXTURES
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
Brief scores:
Toss: Nepal, chose to field
UAE 153-6: Shaiman (59), Usman (30); Regmi 2-23
Nepal 132-7: Jora 53 not out; Zahoor 2-17
Result: UAE won by 21 runs
Series: UAE lead 1-0
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Directed: Smeep Kang
Produced: Soham Rockstar Entertainment; SKE Production
Cast: Rishi Kapoor, Jimmy Sheirgill, Sunny Singh, Omkar Kapoor, Rajesh Sharma
Rating: Two out of five stars
Mohammed bin Zayed Majlis
Specs
Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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Our legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants
