UAE, US non-oil trade at $24 billion in 2014

The UAE Ministry of Economy (MoE) and the National US-Arab Chamber of Commerce have discussed ways to enhance trade and investment cooperation.

This came during a meeting between Juma Mohammed Al Kit, Assistant Under-Secretary of the Ministry of Economy for Foreign Trade and Amin G. Salam, Vice-President of International Business Development at the National US Arab Chamber of Commerce in the presence of a number of senior officials.

The discussions tackled ways to boost cooperation in organising conferences and trade conventions, exchanging studies and promoting international events organised by the ministry through the National US Arab Chamber of Commerce, like the Annual Investment Meeting (AIM) and the Global Trade Development Week.

The two sides also discussed areas of cooperation with regard to small and medium-sized companies as the chamber hosts more than 25,000 companies of its members.

Al Kit underscored the important role played by the National US Arab Chamber of Commerce to bolster trade and investment ties between the US and the Arab world which have witnessed a notable development in the past period.

He also pointed out the importance of utilising cooperation mechanisms between the Ministry of Economy and the chamber to provide services to the business sector in the UAE and the USA, as the US is the third-largest trade partner of the UAE with non-oil trade exchange amounting to more than $24 billion in 2014.

He also reviewed the most important economic development witnessed by the UAE as well as the government's efforts exerted to enhance the country's economic stature regionally and internationally.

On his part, Salam thanked the Ministry of Economy for its efforts to support cooperation with all international trade institutions.

The UAE is one of the most important markets for the US in the Middle East and North Africa, where more than 1,000 US companies are operating in various fields.
 

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