UAE-US non-oil trade topped Dh111.1b in 2016

305 American firms have been operating in UAE until 2015, excluding free-zone companies

Non-oil trade between the UAE and the USA hit more than $30.3 billion (Dh111.1 billion) by the end of 2016, including free zone trade, against $27.8 billion in 2015, said Sultan Bin Saeed Al Mansouri, Minister of Economy.

“UAE-USA economic relations are based on mutual trust, respect and common interest, and they are progressively Abu Dhabi’s non-oil trade with four GCC states hit Dh11.33 billon during the first five months of the year, with the Saudi Arabia in the lead.

According to the Statistics Centre-Abu Dhabi, the four countries, — Saudi Arabia, Bahrain, Oman and Kuwait — accounted for 15.5 per cent of Abu Dhabi’s total trade of Dh73 billion since the beginning of the year until May. In more detail, Abu Dhabi’s trade with Saudi Arabia stood at Dh7 billion during the monitored period, accounting for 62 per cent of the emirate’s total trade with the four nations, and reflecting the strong bilateral ties. growing for the higher good of both countries,” added the minster at a meeting with the US Ambassador to UAE, Barbara Leaf, and her accompanying delegation, in the presence of top executives from the Ministry of Economy.

Al Mansouri reiterated the UAE government’s keenness to continue creating a businessfriendly investment conducive to streamlining economic investment and utilising the immense potential boasted by the countries to their best interests, noting that US investments bound to the UAE have tangibly improved over the past years, hitting around $7 billion in 2015.

A total of 305 US companies have been operating in the UAE until 2015, excluding free-zone firms, in addition to 676 trade agencies and 38,290 brands, he added.

The US ambassador underscored the significance of intensifying channels of collaboration and coordination between the two sides.