The economic cooperation between the United States (US) and the United Arab Emirates (UAE) has increased significantly in recent years. Over the years, US companies have also invested significantly in the UAE.
Recently, the American Business Council expressed its appreciation to His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his support of the UAE-US economic cooperation.
On Friday, the American Business Council held a celebration on the occasion of the 25th anniversary of its founding in Dubai. Mohammed bin Rashid Al Maktoum also attended the celebration. He said, “The two countries have strong ties of friendship that have witnessed positive and fruitful development over the past years.”
During the ceremony, Shaun Murphy, Chargé d’Affaires of the US Embassy to the UAE, highlighted the presence of more than 1,500 US companies in the UAE.
Microsoft, Oracle, Tesla, LinkedIn, Cisco and Facebook have established their headquarters in Dubai. Lockheed Martin, Boeing, Northrop Grumman, Nova Chemicals, FedEx, Mayo Clinic and Cigna Healthcare also have headquarters in the UAE. Major American companies including Microsoft, Oracle and Tesla have also established a huge market in the UAE. Many companies also have regional offices in Abu Dhabi, the capital of the UAE.
US companies usually prefer the UAE because the country offers a business-friendly environment, a durable banking sector and a diversified economy.
Sami Abu Saba, Chairman of the American Business Council in Dubai, also praised the economic cooperation relations between the UAE and the US. Sami Abu Saba noted that the UAE market is considered one of the most important markets for US trade in the Middle East and North Africa (MENA) region.
The UAE is also the single-largest export market for the US in the MENA region. Investment relations between the two countries will also witness significant developments in the coming period through cooperation in the private sector.
During the ceremony, the President of the American Business Council also praised the UAE for its role in preserving the environment, reducing emissions and facing the challenges of climate change.