The U.S.-U.A.E Business Council and the U.A.E. Embassy’s Trade and Commercial Office hosted the U.A.E. Minister of Economy, His Excellency Sultan Al Mansouri, for an evening reception on the 11th of June 2019 at the St. Regis Hotel in Washington, D.C.
The reception provided policymakers, thought leaders, and senior executives from leading U.S. and U.A.E. companies with the opportunity to hear from H.E. Al Mansouri, who is also the U.A.E.’s top commercial aviation, financial services, and consumer protection regulator, on a number of topics critical to the U.S.-U.A.E. bilateral trade and investment relationship.
The evening allowed the assembled guests to directly engage His Excellency and other visiting members of the official U.A.E. Delegation who were attending the Department of Commerce-hosted 2019 SelectUSA Investment Summit.
Mr. Danny Sebright, President of the U.S.-U.A.E. Business Council, opened the program, introducing H.E. Al Mansouri and detailing the Minister’s exemplary leadership of efforts to enhance U.A.E. economic diversification and support the country’s transition to a knowledge-based economy.
His Excellency provided brief prepared remarks, noting the success of his visit to SelectUSA and highlighting the fundamental strengths of U.S.-U.A.E. economic cooperation, including increasingly robust trade and commercial ties. Minister Al Mansouri touted recent reforms of foreign ownership laws and the establishment of long-term visas as important examples of changes the U.A.E. continues to enact to promote business and trade in the United Arab Emirates.
“For 10 straight years, the U.A.E. has been the top export market for American goods in the Middle East. Trade between our two nations has expanded by 60 percent in that time, supporting thousands of jobs in both countries. Some of America’s largest businesses, like Microsoft, Facebook, Boeing, and General Electric, base their regional operations in the U.A.E.”
“This strong partnership is based not just on shared interests, but also on shared values. Much like the U.S., the U.A.E. was founded on ideals of openness and inclusion. We also believe an open and inclusive society is the key to creating prosperity and a vibrant economy.”
Following his official remarks, Mr. Sebright joined H.E. Al Mansouri on stage for a candid “fire side chat” designed to explore key topics in more detail. The conversation touched on a variety of topics of mutual U.S.-U.A.E. interest including, growth areas in bilateral trade, the U.A.E.’s new foreign direct investment regulations, tariffs on steel and aluminum imports, and principal drivers of new growth in the bilateral trade and investment relationship.
His Excellency noted that, “The U.A.E. will continue to reaffirm the strength of our bilateral relations at the upcoming Economic Policy Dialogue, which will be held next week in Washington, DC, marking the first anniversary of the signing of the U.S.-U.A.E. Record of Discussion on Civil Aviation.”
In his closing remarks, Mr. Sebright thanked H.E. Al Mansouri for his commitment to the U.S.-U.A.E. bilateral relationship and successful stewardship of U.A.E. economic planning.