UAE Enhances Technology And Innovation Partnerships With US Following Silicon Valley Visit

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, recently concluded a visit to San Francisco and Silicon Valley. The trip aimed to enhance economic cooperation and explore partnerships between the UAE and the United States, particularly in advanced technology sectors.

During his visit, Dr. Thani engaged with stakeholders, leading tech companies, and local entrepreneurs. He sought to identify potential collaborations in high-priority areas such as artificial intelligence (AI), machine learning, and climate tech.

The minister highlighted the UAE’s ambitions in advanced technology and its investment-friendly business environment. He invited US investors, start-ups, and skilled professionals to explore expansion opportunities in the UAE.

Discussions centred on joint projects, research collaboration, and knowledge exchange in cutting-edge fields like AI, data analytics, and sustainable technologies.

Dr. Al Zeyoudi’s visit underscores the UAE’s commitment to securing global partnerships to boost its industrial and technological capabilities. This effort aims to further solidify the nation’s position as a hub for investment and innovation.

The minister remarked on the significance of the West Coast of the US as a global epicentre of technology and innovation. "The West Coast of the US is the global epicentre of technology and innovation, and the UAE has much to gain from closer ties to Silicon Valley’s vibrant ecosystem," he said.

Economic Growth Through Technology

He emphasised that technology is a key pillar of the UAE’s economic growth and diversification agenda. Building productive and mutually beneficial relations with leading exponents worldwide is vital for accelerating technological capabilities.

The United States ranks as the UAE’s third-largest trading partner globally, accounting for 5.6% of the UAE’s total non-oil trade. The UAE holds a significant position as America’s most important trading partner in the Arab World.

Bilateral Trade Relations

Bilateral trade between the two nations comprises 27% of the USA’s non-oil trade with the region. In terms of investments, by the end of 2022, the UAE had US$38.1 billion in assets in the US.

This figure represents more than 50% of total foreign direct investment (FDI) from Arab countries in America. These investments span various sectors including transportation, business services, software and IT services, real estate, food and beverages, and aerospace.

The visit marks an important step towards establishing long-standing partnerships at both private-sector, public-sector, and academic levels. Leveraging knowledge and experience from these collaborations will accelerate technological advancements in the UAE.

With inputs from WAM