UAE Economy Minister explores trade & investment ties with Governor of Maryland

By Shilpa Annie Joseph, Official Reporter
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UAE’s Minister of Economy, Mr. Abdullah bin Touq Al Marri and Governor of Maryland, Mr. Larry Hogan have discussed the opportunities to promote trade between the Emirates and the American state’s markets, particularly in the private sector.

According to the statement, several major areas of commercial and investment cooperation, as well as the partnership between UAE firms and the Maryland business community, were identified by both parties.

This came during a meeting on the sidelines of Mr. Al Marri’s official visit to the US, where he is leading a large UAE official and commercial delegation to discuss ways to further develop the economic partnership between the two countries, including increasing and diversifying trade as well as investments.

The Economy minister reviewed the promising opportunities offered by the UAE investment environment to partners from around the world, as well as the leading economic fundamentals, incentives, and benefits offered by the new business climate in Emirates as a vital gateway for American companies wishing to establish and expand their trade and investment activities in Asia and Africa.

Abdulla bin Touq Al Marri
Abdulla bin Touq Al Marri
Minister of Economy

“USA -UAE relations are a strong strategic relationship that is characterized by diversity and growth in various areas. We are keen to develop an economic and commercial partnership with the State of Maryland and promote investments by UAE companies. We are also interested in inviting state companies to increase their trade with Emirates and to take advantage of the opportunities and partnerships offered by the promising sectors in UAE as a leading regional trade and investment center which provides a vital gateway facilitating access for American companies to large markets and big opportunities in Asia and Africa.”

Further, he stressed that UAE companies, with their global and cumulative expertise gained through investments in nearly every country on the planet, as well as their modern potentials and techniques, could effectively contribute to Maryland’s overall development agenda in partnership with their private sector, benefiting all parties.

Mr. Al Marri also discussed with Maryland Ruler the opportunities to increase and diversify UAE investments in the State. Both parties decided to focus on the healthcare, manufacturing, technology, and electronics sectors as important hubs for expanding cooperative trade and investment.

Related: UAE launches talks on Comprehensive Economic Partnership Agreement with India