During the visit, Sheikh Mohammed bin Zayed Al Nahyan will discuss with Joe Biden, President of the United States of America, the historic friendship between the UAE and the United States, which extends back more than fifty years, and ways to enhance their cooperation and strategic partnership in all fields, especially the economy and trade. And investment And technology Artificial intelligence and space, in addition to renewable energy, combating climate change and sustainability solutions.
Facts and figures about trade relations and areas of cooperation:
- The UAE is the United States’ largest trading partner in the Middle East and North Africa.
- Total non-oil bilateral trade (excluding services) increased by 20 percent to US$39.5 billion in 2023.
- UAE imports from the US increased by 22 percent to $25.9 billion in 2023 compared to $21.3 billion in 2022.
- UAE exports to the US increased to $3.9 billion in 2023, from $3.2 billion in 2022, and the value of non-exported goods from the UAE to the US increased by 17 percent to $9.6 billion in 2023, compared to $8.2 billion in 2022.
- UAE foreign direct investment in the United States amounted to approximately $3.7 billion between 2018 and 2023, and US direct investment in The UAE It recorded about $9.5 billion during the same period.
- The UAE’s investments exceed one trillion dollars in various sectors of the American economy. In addition, 1,500 American companies and institutions operate in the UAE, and more than 50,000 Americans reside in the country, according to the Emirates News Agency (WAM).
- The main sectors of UAE investments in the United States include: Renewable energy Communications and energy And real estate Software and information technology services.
Economic and technological partnership
The UAE and the United States of America are cooperating in the technology and artificial intelligence sectors and are moving at an accelerated pace in this vital field that shapes the economy of the future.
- On June 1, 2024, World Wide Technology, a leading US-based technology company, signed a strategic agreement with NXT Global to establish and develop the UAE’s first AI integration center in Masdar City, which will be one of the world’s most sustainable urban developments.
- On April 15, 2024, Microsoft announced a $1.5 billion strategic investment in UAE-based AI startup G42. The investment will see collaboration across AI and technology, including developing local AI technologies, communications, providing secure services, and driving digital transformation across multiple sectors. The collaboration also aims to develop reliable clean energy technologies and teach AI skills.
- The UAE’s launch of the Hope Probe in 2021 led to scientific collaboration on the Martian atmosphere. The UAE is seeking to further strengthen this partnership by committing to space exploration missions in collaboration with the University of Colorado on NASA’s Lunar Gateway project, which will see the first Emirati astronaut sent into lunar orbit by 2030, further cementing the UAE’s position in space science and technology.
- The UAE is a key partner of the United States on climate action, as evidenced by the partnership to accelerate clean energy PACE by 2035, which aims to produce 100 gigawatts of clean energy.
- The UAE also co-leads the AIM for Climate initiative, which includes more than 500 clean energy projects in 50 countries, in addition to Masdar’s investments in 11 clean energy projects in the United States, including the Big Beau solar and battery project near Los Angeles.
Historical visit
For his part, Yousef Al Otaiba said: UAE Ambassador to WashingtonThe historic visit of Sheikh Mohammed bin Zayed Al NahyanThe visit of the President of the State to the United States of America, and his planned meeting with President Joe Biden, constitute an important stage in relations between the Emirates and the United States.
“Together, the UAE and the United States are a critical force for positive change and an engine for regional stability, prosperity, and integration,” Al Otaiba added. “By continuing to work together and address these challenges head-on, we are paving the way for another 50 years of cooperation.”
For his part, White House National Security Council spokesman John Kirby said: “On Monday, September 23, US President Biden will receive the President of the UAE, Sheikh Mohammed bin Zayed Al Nahyan.”
He added: “This will be the first visit of the UAE President to Washington, so it is a historic visit, and during the visit he will also meet the Vice President separately.”
“The UAE is also a leading partner in the President’s Global Infrastructure and Investment Partnership, and I believe advanced technology will also be a focus of these discussions, including efforts to advance the goals of responsible AI,” he continued.
