U.A.E. Minister of Economy, Sultan bin Saeed Al Mansouri, has discussed with US Secretary of Commerce, Penny Pritzker, ways to strengthen bilateral relations between the two friendly countries in areas of economy, trade and investment.
During the meeting, Al Mansouri highlighted the progress of national economy, noting that the U.A.E. has been scoring successes in the area of excellence, and managed in record time to become competitive to major countries, in accordance to the global economic and development indicators issued by United Nations, International Monetary Fund and World Economic Forum.
The U.A.E. minister made the remarks, while meeting with Secretary Pritker in her office, in Washington. Al Mansouri and the delegation accompanying him are currently in a tour to a number of US cities from September 20- 27. The two ministers met in March in the U.A.E. when the high profile US delegation visited the country.
"The U.A.E. is considered the most appropriate country for companies and businessmen alike," Al Mansouri said, referring to the existence of flexible laws and legislations, and flexible regulating for the business sector in the U.A.E.. Such laws assure foreign investors, and keep them posted and familiar with all rights and duties.
He pointed out that the policy of economic openness adopted by the U.A.E. has contributed to strengthening its position on the economic and trade world trade map.
Al Mansouri said the US is the fourth non-oil trade partner to the U.A.E., and "We are looking forward to increasing the volume of trade exchange that stood at US$26.9 billion, about (Dh98.7billion) in 2013", adding that the trade exchange between the two countries has created over 200, 000 jobs in the US. He noted that the U.A.E. is the major importer from the US in the Middle East, besides the U.A.E. investments in the US exceed US$21 billion. The U.A.E. also hosts over 1, 000 US companies, while over 60, 000 US citizens reside and work in the U.A.E..