Trump’s visit signals 'new heights' for trade partnerships with UAE, say ministers

Strong trade partnerships are set to soar with US President Donald Trump’s visit to the UAE. Mr Trump is in Abu Dhabi for two days on the final leg of a milestone tour of the Gulf – his first overseas visit since he took office in January. The UAE government has said the presidential visit strengthens the strategic partnership and reflects a commitment on both sides to build on long-term economic relations. “The UAE and the United States share historical and strategic relations built on friendship and mutual understanding,” Abdulla bin Touq, Minister of Economy, told state news agency Wam. “The visit reinforces the UAE’s position as an influential global economic hub and supports the achievement of sustainable economic and social development.” He said the visit reflected the UAE leadership's vision to strengthen partnerships with the US. Trade is high on the agenda of the two-day visit to Abu Dhabi with announcements expected to cover investments in clean energy, artificial intelligence, sustainable industrial development and advanced technology. Dr Thani Al Zeyoudi, Minister of State for Foreign Trade, spoke of efforts to boost trade ties further and grow the partnership to scale new heights of prosperity. “The United States is a close partner and friend to the United Arab Emirates and we look forward to further strengthening our bilateral trade relations and ensuring that our shared path of prosperity continues by promoting the smooth flow of goods, services, and capital necessary to stimulate shared economic growth,” he said. The US is the UAE’s largest trading partner outside Asia and the sixth largest globally accounting for 4 per cent of the UAE’s non-oil trade that reached $32.8 billion last year. More than 1,800 US companies have set up in the UAE, according to the UAE Chamber of Commerce and Industry that anticipates a rise in the businesses keen on expanding to the Emirates. More than 115 UAE companies operate in the US in health care, technology, tourism, aviation, AI and hospitality. The UAE has investments in the US estimated at about $1 trillion in sectors across aviation, manufacturing, energy, advanced technology, and artificial intelligence. Both countries also work closely to strengthen regional and global security along with economic prosperity.

Trump’s visit signals 'new heights' for trade partnerships with UAE, say ministers

The UAE government sees robust growth in ties with the US leading to shared prosperity