Discussions held during the sixth US-UAE Economic Policy Dialogue in Washington
The UAE and US outlined the potential for “significant” scope to further expand economic ties during a meeting in Washington, extending a historically robust trade relationship.
Discussions were held on a range of economic policy issues and fields of cooperation ranging from space, food security, artificial intelligence, innovation, the digital economy, technology and health, the US State Department said on Monday. The talks were part of the sixth US-UAE Economic Policy Dialogue held on June 20.
“It was underlined that there remains significant scope for the United States and UAE to bolster their cooperation and explore new opportunities in these fields to the mutual interest of both sides,” according to a statement from the US State Department.
The US and UAE’s bilateral trade in goods reached about $25 billion (Dh91.8bn) in 2018, with almost three-quarters constituting US exports to the UAE, making it the US’s fourth largest trade surplus globally. The US is one of the UAE’s most important global economic partners and for more than a decade, the UAE has been the US’s largest Middle East and North African trading partner.
The two sides explored areas of cooperation in line with the Women’s Global Development and Prosperity (W-GDP) Initiative, a US effort that aims to empower women globally to fulfill their economic potential including removing obstacles to women’s participation in the economy and supporting female entrepreneurs.
Delegations from the two countries also discussed civil aviation, underscoring their commitment to “fully maintain” all aspects of the Open Skies policy agreement.
The two sides emphasised the benefits of the Economic Policy Dialogue as a platform to further enhance bilateral ties, overcome trade barriers, improve regional cooperation and enhance investment interaction.
Updated: June 25, 2019 11:50 AM