Abu Dhabi, US set up joint economic body

Abu Dhabi and the United States announced on Tuesday the formation of a joint economic council to promote trade and investment.

The Abu Dhabi Department of Economic Development (ADDED), the Abu Dhabi Chamber of commerce and industry and the American Chamber in Abu Dhabi signed an agreement to create the new body.

“The council is intended to provide a common platform to facilitate and expand trade and investment between the Emirate of Abu Dhabi and the United State,” ADDED said.

Speaking after the signing, ADDED undersecretary Mohammed Omar Abdullah said the UAE-American relations are now closer than ever with strategic depth in many areas, particularly economic cooperation and investment.

He noted that the establishment of the Abu Dhabi-US Economic Council would provide an opportunity for the private sector in Abu Dhabi and the UAE to benefit from the knowledge and long standing experience of American companies.

He said Abu Dhabi is progressing with a “steady pace” towards economic diversification, targeted by Abu Dhabi Economic Vision 2030, to increase its integration into the world economy by creating opportunities and providing incentives and facilities to the private sector, UAE nationals and foreign companies to expand their businesses and create strategic partnerships with their counterparts from around the world.

 

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