UAE Minister of Economy to Partner the US

During his speech to more than 2,000 international investors, business owners, policymakers, and business leaders at the SALT New York conference, United Arab Emirates (UAE) Minister of Economy H.E. Abdullah Bin Touq Al Marri praised the UAE as a hub for commercial expansion, trade, and economic growth.

At a keynote panel titled “UAE Rising,” Minister Bin Touq stressed the UAE’s open and friendly approach to the global business community. He was accompanied by H.E. Mohamed Ali Al Shorafa Al Hammadi, Chairman of the Abu Dhabi Department of Economic Development. One of the main components of the UAE’s strategic aims to promote sustainable economic growth is the expansion of international trade links.

“The UAE is demonstrating through action that our country is open for business,” said UAE Minister of Economy Abdullah Bin Touq. “In less than a year, we concluded successful Comprehensive Economic Partnership Agreements with India, Israel, Indonesia, and Colombia. These trade deals will expand our country’s GDP, lead to an increase of UAE exports to new markets, and create meaningful new job opportunities. The UAE Government is committed to our comprehensive economic growth plan.”

Minister Bin Touq and Chairman Al Shorafa supported the UAE Government’s Investopia Initiative, a campaign intended to highlight investment opportunities in emerging industries while attending the SALT New York conference. Building capability in digital and virtual technologies, increasing investment in artificial intelligence, space exploration, and the green economy are all part of this endeavour.

According to Minister Bin Touq, the UAE’s foreign commerce increased by 27% in 2021 compared to 2020 and by around 11% from pre-pandemic 2019 levels. The national non-oil exports of the UAE have increased by 47.3 percent above the pre-pandemic average, making it one of the most diversified economies in the Middle East.