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ABU DHABI/AD MEDIA OFFICE
Abu Dhabi Investment Office (ADIO) has signed a memorandum of understanding with the Export-Import Bank of the United States (EXIM), focused on fostering economic collaboration and strengthening trade ties between the UAE and the US.
Through the agreement, ADIO and EXIM seek to strengthen the relationship between Abu Dhabi and the US by driving sustainable economic growth and boosting trade, in addition to exploring avenues of support related to credit lines and guarantees.
The MoU signing marks a significant milestone in facilitating the import and export of raw materials, services and technology, particularly in priority sectors that are critical to the future of Abu Dhabi and the US, such as energy, critical minerals, infrastructure, telecommunications and emerging technologies.
The agreement aims to advance renewable energy solutions like green hydrogen and energy storage systems, strengthen critical mineral supply chains, and foster innovation in biotechnology, AI, semiconductors and quantum computing. In telecommunications, this collaboration is intended to focus on supporting the rollout of 5G networks, while other infrastructure projects will target transformative advancements in transportation systems.
The MoU also aims to promotes knowledge and information sharing, capacity building, and the exchange of best practices, ultimately enhancing the competitiveness and growth of businesses in both Abu Dhabi and the United States. The agreement includes support for small- and medium-sized enterprises (SMEs), with an emphasis on women-owned businesses.
His Excellency Badr Al-Olama, Director General of ADIO, said: “Abu Dhabi is committed to forging impactful, global partnerships that drive innovation and bolster the emirate’s international trade. By connecting the US’s dynamic business ecosystem with Abu Dhabi’s forward-thinking economic vision, this collaboration with EXIM is set to lay the groundwork for transformative trade and investment opportunities in critical sectors. Together, we are well-positioned to empower investors and businesses to thrive amid a rapidly evolving global landscape, while contributing to a resilient economic future.”
Reta Jo Lewis, President and Chair of the Board of Directors at EXIM, said: “EXIM is proud to partner with ADIO in advancing trade and innovation. In 2023, the US exported over $24 billion to the UAE. EXIM’s new partnership with ADIO will further expand the reach of US companies into the Middle East through Abu Dhabi, a global gateway for investment and innovation. We look forward to collaborating with ADIO and delivering sustainable economic benefits for both regions.”