The discussion included the recent procedures adopted by the US on imports of iron and aluminium, as the UAE is one of the most important exporters to the US Sultan bin Saeed Al Mansouri, Minister of Economy, and US Commerce Secretary, Wilbur Ross, have discussed ways to enhance cooperation in the economic and trade fields between the two countries during a meeting held in Washington.

The meeting took place during the official visit of Al Mansouri to take part in The SelectUSA Investment Summit held from 20 to 22 June 2018. The two sides discussed the current level of economic and trade relations and the areas of their development during the next phase considering the promising investment opportunities offered in the two markets, as well as ways of benefiting from the cooperation and partnership agreements signed in a number of vital sectors, according to state news agency WAM.

They also discussed the recent procedures adopted by the US on imports of iron and aluminium, as the UAE is one of the most important exporters of aluminium to the US. Al Mansouri emphasised the strong bilateral relations between the UAE and the US, especially on the economic and trade levels as the UAE is one of the most important markets for US exports in the region.

"Given the figures of trade exchange between the two countries, we find that they doubled during the last decade after nonoil foreign trade amounted to about $24 billion in 2017, including $4 billion UAE exports.”

He also noted the geographical scope of the UAEs trade exchanges with all the US States, especially Washington, California, Texas, Florida, and New York. According to WAM, Al Mansour added that the joint economic relations are based on a mutually beneficial model as the foreign trade between the two countries supports more than 119,000 jobs in the US, while the Emirati investments in the US contribute to the provision of local jobs and liquidity for the capital markets to enhance the possibilities of innovation and progress in a number of sectors. The minister also indicated that the UAEs direct investments in the US market reached about $27.5 billion, representing about 12,800 jobs in the US, while the total value of UAE investments in the US is about $100 billion, WAM said.

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