5 December 2023

The U.S.-U.A.E. Business Council hosted a dinner at the Ritz Carlton DIFC in honor of U.S. Under Secretary of Commerce Marisa Lago on Tuesday, December 5, 2023. The dinner, which was attended by over 70 senior business executives and government officials, was Under Secretary Lago’s first significant interaction with business on the margins of COP28.
 
U.S. Ambassador to the U.A.E. Martina Strong, in her welcome remarks, spoke of the strength of the U.S.-U.A.E. relationship.  She outlined positive developments in the relationship and credited the work of the Department of Commerce, including the foreign commercial staff in the Embassy, in advocating for U.S. businesses and advancing the bilateral commercial relationship.  She commended the U.S.-U.A.E. Business Council for actively promoting the trade and commercial relationship between the United States and the U.A.E.  U.S.-U.A.E. Business Council President Danny Sebright, in turn, praised Ambassador Strong for the energy she has infused into the bilateral relationship since her arrival just a few months ago and her embrace of the business community. Mr. Sebright highlighted the Emirates $52 billion order for Boeing aircraft at the Dubai Airshow as an example of the strength of this bilateral trade relationship and its importance to the U.S. economy. He also praised new members of the team at the U.S. Mission, including the new Regional Senior Commercial Officer for the Gulf Tanya Cole, for their work in promoting and strengthening the relationship. 
 
In her remarks, Under Secretary Lago hearkened back to her March 2022 visit to the U.A.E. for Trade Winds, which was her first international trip as Under Secretary for International Trade. Under Secretary Lago lauded the U.A.E.’s ambitious climate goals and praised H.E. Omar Al Olama, U.A.E. Minister of State for AI, for receiving and incorporating private sector input on digital policies, laws, and regulations. She also lauded U.S.-U.A.E. cooperation on civil nuclear energy.
 
Under Secretary Lago underscored the U.S. Government’s commitment to combatting climate change and its strong participation in COP28. More than 500 federal officials, 5 cabinet secretaries, and 50 officials with the rank of Assistant Secretary or above are attending this year’s COP.  She stressed that bilateral cooperation on climate “cannot end with this year.”
 
Under Secretary Lago answered questions about Secretary of Commerce Gina Raimondo’s October 2023 visit to the U.A.E., during which the United States and U.A.E. committed to a stronger partnership in important sectors for growth and investment, including advanced technology and Artificial Intelligence.  She highlighted cooperation in the digital domain and AI, and she noted that she has relayed U.S. industry feedback on U.A.E. data laws, regulations, and policies to U.A.E. authorities, who have welcomed this feedback in the spirit of implementing best practices that enable business and encourage investment. She detailed the transformative impact of the Inflation Reduction Act as well as the CHIPs and Science Act on the U.S. economy. She also outlined the U.S. approach to regulating artificial intelligence.
 
Under Secretary Lago noted the evolution of climate conversations over the decades and looked ahead to the future. She praised the institutionalization of climate action through COP and the Paris Agreement. She noted that there is now a business imperative to address climate change, as opposed to just an ethical imperative, and she highlighted the job-generating potential of energy transitions.  She predicted that, five years from now at COP 33, “we will be discussing technologies about which we have no idea today, given the rapid and accelerating pace of technological change.”  In short, she expressed great optimism that significant progress will be made in the next five years.   
 
President Biden appointed Under Secretary Lago as Under Secretary of Commerce for International Trade in September 2021. In this role, she leads the federal government’s efforts to assist American businesses entering or expanding into international markets, enforce fair trade policies, promote travel and tourism to the United States and U.S. products and services overseas, provide in-depth trade analyses, develop strategies that will shape the future of international trade, and engage in commercial diplomacy across the globe.
 
For more information on this event or the Business Council’s COP28 programming, please contact Graham Reitman at greitman@usuaebusiness.org.