Non-oil trade between the United States and the United Arab Emirates will reach $31.4 billion in 2023
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Danny E. Sebright, president of the United States-UAE Business Council, said the volume of non-oil trade between the UAE and the United States reached $31.4 billion in 2023 and is expected to continue growing at the same pace in 2024.
Sebright He added that US exports to the UAE reached $24.8 billion last year, surpassing 2022 exports of $20.8 billion, by 19 percent, noting that the UAE remained the top destination for US exports in Middle East and Africa for the fifth consecutive year.
The president of the United States-UAE Business Council highlighted that US exports to the UAE support 125,000 jobs in the US, while UAE exports to the US totaled $6.6 billion last year .
Sebright He said the UAE’s investments in the US market continue to grow, focusing on various sectors, including real estate, manufacturing, healthcare and technology. He pointed to three areas with the greatest potential for further cooperation between the two countries in 2024: healthcare and life sciences, financial services and private equity, and technology and artificial intelligence.
Sebright said that the United Arab Emirates and the United States continue to build on the tremendous progress made last year in the run-up to the United Nations Climate Change Conference (COP28) in the areas of renewable energy, food security and sustainability, in addition to the continued strength of the traditional bases of the bilateral trade relationship between both countries in sectors such as space, defense and energy.
News source: Emirates News Agency
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