By NNN-WAM,
Washington : UAE Foreign Trade Minister Sheikha Lubna Al Qasimi has hailed the strong relations and trade partnership between the UAE and the United States.
The remarks were made here during her meeting with members of the UAE-US Business Council in presence of Yusuf Manea Otaiba, the UAE ambassador to the US.
“The two countries are more than strong partners, who play a dynamic role in the global economy. The UAE is the biggest US trade partner in the Middle East. It was ranked 21st in the world as being the market for US exports in 2007,” she said.
Al Qasimi added that the trade exchange between the UAE and US touched USD 12.9 billion, of which USD11.6 billion was US exports to the UAE market, while the UAE’s exports to the US markets surged 38 per cent between 2000-2007 from USD 972 million to USD 1.3 billion. Non-oil trade between the two countries grew in the first seven months this year by 24.2 per cent to USD 8.1 billion against USD 6.5 billion in the last corresponding period. The US’ exports to the UAE market were USD 8billion while the UAE’s exports to the US markets were USD 853 million.
She noted that the UAE economy, which is the second largest economy in the Arab world, is the most viable and liberal economy in regards to sustainable growth and progress.
Al Qasimi called on the US companies to benefit from the investment merits in the UAE market, which give them more access to huge markets in South East Asia, Africa and Europe.
The UAE-US Business Council was set up in May 2007 to boost commercial, economic and investment relations between the two countries.
Al Qasimi also discussed with Shepard W. Hill, senior vice president, Boeing International, on boosting investment in the UAE.
She called on the Boeing Company to benefit from the UAE government’s plans on economic diversification, particularly in the field of aviation.