The U.S.-U.A.E. Business Council hosted an industry reception on the margins of GITEX Global 2024 at the St. Regis Hotel, Business Bay, on the evening of Monday, October 14th in Dubai. The event provided U.S.-U.A.E. Business Council member companies and friends the opportunity to hear from senior U.S. and U.A.E. officials on the strong and growing bilateral collaboration in the AI and advanced technology sector. The reception took place on the first day of GITEX, the world’s largest global technology exhibition, where this year, over 300 U.S. companies are participating. In addition to private sector leaders, including a delegation from Puerto Rico, U.S. and U.A.E. government officials and Mission staff attended the event, including the visiting Deputy Assistant Secretary from the Department of Treasury, Todd Conklin, and Consul General of the United States for Dubai and the Norther Emirates, Robert Raines.
H.E. Omar Sultan Al Olama, U.A.E. Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications, and Director General of the U.A.E. Prime Minister’s Office, outlined the U.A.E.’s ambitions to become a global technology and AI hub. He recounted the U.A.E.’s remarkable development into a world-leading business and commercial center over his lifetime and predicted the next evolution will be just as remarkable. He credited the visionary direction of his country’s leaders and the longstanding collaboration with U.S. companies for this “miracle in the desert.” H.E. Al Olama emphasized the United States’ long-standing partnership with the U.A.E. and reiterated the U.A.E.’s intention to work closely with the United States on the development of its technology and AI ecosystem. Citing recent commercial partnerships involving G42, Microsoft, BlackRock, and NVIDIA, H.E. Al Olama argued that this was just the base of cooperation in the tech sector, and there was a lot more room for U.S. companies to get involved. Emphasizing the world-leading innovation being developed by U.S. companies, H.E. Al Olama characterized them as key partners in the U.A.E. AI ecosystem, stating that “the U.A.E. is just getting started and there is a lot more to do.”
Finally, His Excellency agreed with Mr. Sebright’s recommendation that all companies present at the reception should consider participating in World Governments Summit in Dubai in February 2025. The U.S.-U.A.E. Business Council has been a key partner over the years in helping attract U.S. commercial support and participation in the summit.
U.S. Ambassador to the U.A.E. Martina Strong provided details on the historic visit of His Highness Sheikh Mohammed bin Zayed to the United States. Ambassador Strong relayed that AI and advanced technology cooperation was a central part of the key engagements between His Highness and leaders in the United States. Ambassador Strong encouraged U.S. companies to seek out partnerships in the U.A.E. and emphasized that U.S. companies’ success is central to the success of the U.S.-U.A.E. bilateral relationship. She lauded the important role the U.S.-U.A.E. Business Council plays to champion commercial and trade relationships between the two countries. Ambassador Strong stated that the U.S. Mission is here to support U.S. companies wanting to do business in the U.A.E. and encouraged companies to build on the current momentum of the U.S.-U.A.E. partnership.
Reta Jo Lewis, President & Chair of the Board of Directors of the Export-Import (Ex-Im) Bank of the United States, explained how the Ex-Im Bank supports U.S. companies, including those in the technology sector, through financing, loans, and insurance for exports. Ms. Lewis explained that the core mandate of the Ex-Im Bank to is help U.S. companies penetrate foreign markets, both in terms of sales and partnerships, such as in the U.A.E., and remarked on the job creation such relationships bring to both countries. Emphasizing the whole-of-government approach the Biden Administration has employed to supporting U.S. businesses, she pledged to bring resources available across various government institutions, particularly within the Department of Commerce, to work with private sector leaders and government representatives to expand commercial ties in support of technology and AI exports, no matter how large or small the company may be.
For more information about this event, please contact Amira Siddiqi at asiddiqi@usuaebusiness.org.