Ministry of Economy Highlights UAEs Economic Growth During Meeting With US Governor of Missouri

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Ministry of Economy Highlights UAEs Economic Growth During Meeting With US Governor of Missouri

Abu Dhabi, November 23, 2016 : H.E. Abdullah bin Ahmed Al Saleh, Undersecretary of the UAE Ministry of Economic situation (MOE) for Foreign Trade and also Industry has stressed throughout a recent meeting with delegates from the State of Missouri in the United States the depth of the economic relations in between the UAE as well as the United States, as well as noted the different chances for the development of trade, financial investment and also joint participation between both countries.

Jeremiah Wilson 'Jay' Nixon, the Governor of Missouri, led the US delegates in a meeting held at the MOE office in Abu Dhabi. Delegates from the Ministry consisted of Dr. Ayman Ibrahim, MOE Advisor; Hind AlYouha, Director of Foreign trade Policies, MOE; Saud Al Nowais, Commercial Counselor for the UAE to the United States; and Talal Al Kaissi, chief of Staff as well as Advisor to the Commercial Counselor at UAE.

H.E. Al Saleh explained that the total foriegn non-oil trade in between the two countries reached about USD 28 billion in 2015, which USD 6 billion of profession took place in the complimentary zones. The US rates third in total foreign tradeand also is the 2nd biggest merchant to the UAE. It was also 11th among nations importing from the UAE. The range of economic tasks between the two nations reflects the many possibilities for cooperation and also financial investment in a number of industries, particularly farming, industry and also food, as well as those related to innovation, he included.
AlYouha presented the UAE's economic development indicators, highlighting that the UAE accomplished 3.8 per cent GDP growth in 2015.

She included that the UAE topped the region in Foreign Direct Investment (FDI) inflow and outflow in 2015 and 2016. The UAE additionally rated 26th and 24th specifically worldwide on the World Competitiveness Yearbook provided by the International Institute for Management Growth, posting an FDI inflow of USD 11 billion and also outflow of USD 9.3 billion.

Nixon commended the UAE's unique economic policies, highlighting that the nation's growth model based on innovation and economic diversification is the optimal method for taking care of the difficulties presented by global financial changes.

The Governor added that the State of Missouri has considerable rate of interest in establishing robust trade and also financial investment connections with the UAE's business community as well as trade companies, in addition to boosting teamwork at the governmental level.These efforts will lead to stronger economic partnerships between the UAE and the US in general and the State of Missouri in particular.