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ABU DHABI / WAM
Danny E. Sebright, President of the US-UAE Business Council, pointed out that enhancing the cooperation between the UAE and the United States will expand and develop the volume of trade exchange and mutual investments
In an exclusive interview with the Emirates News Agency (WAM), Sebright said, “In 2021, there was over US$25 billion in bilateral trade between the US and the UAE, marking a recovery from a dip during the pandemic.
“The UAE is an important investor in the US economy. Last year, it was estimated that the total 2020 stock of UAE Foreign Direct Investment in the US was $65 billion, of which more than $33 billion are a direct investment.”
He noted that with the expansion of opportunities and the strengthening of relations for larger investments, there will be a significant increase in the volume of investments and trade exchanges.
Sebright added that “One of the UAE’s sovereign wealth funds, Mubadala Investment Company, has invested over $100 billion alone in the US. Other UAE Sovereign wealth funds also have invested heavily in the US over the last 20 years.