Danny E. Sebright, the President of the US-UAE Business Council (a Washington D.C.-based business advocacy organisation) has said that the United Arab Emirates is a global business centre that attracts American companies.
He said that enhancing the cooperation between the UAE and the United States will expand and develop the volume of trade exchange and mutual investments. In an interview with the Emirates News Agency (WAM), he said, "In 2021, there was over US$25 billion in bilateral trade between the two countries, marking a recovery from a dip during the Covid-19 pandemic.”
He further said, "The UAE is an investment destination and an important investor in the US economy.” He noted that there is also potential for growth of the bilateral relationship between the two countries. Sebright added, "One of the UAE's sovereign wealth funds, Mubadala Investment Company, has invested over $100 billion in the United States. Other UAE Sovereign wealth funds also invested heavily in the US over the last 20 years.”
He said that he hopes that cooperation between the two friendly countries will be intensified and contribute to expanding and developing the volume of trade exchange.
The UAE is the number one US export market in the Middle East region. Since 2009, the UAE has been the number one export market for US goods in the region. In 2021, bilateral trade between the two countries totalled $23.03 billion, with the US exporting over $17 billion of goods and services to the UAE.
More than 1,500 US firms also have a presence in the UAE. The UAE is the best location for American companies due to its business-friendly environment and its diversified economy. The country also maintains strong financial reserves and has a durable banking sector. The investment attractiveness of the UAE has witnessed a sharp rise in recent years as the country also offers a high level of security, reliability, and quality of life.
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