By: Frank Kane
2 August 2016
The National

As the UAE Ambassador in Washington, Yousef Al Otaiba is the voice of the Emirates in America. He explains to Frank Kane his role in the growing commercial relationship between the two countries.

What do you see as the UAE’s strategic business interests in the USA?

The US and the UAE have a lot in common when it comes to how we view business. On a strategic level, we both see the power and benefits of open markets that spur trade, innovation and entrepreneurship. The more we can build upon that foundation the better off both the UAE and US will be.

I see business exchanges between the US and the UAE as a two-way street. The UAE has one of the most open and innovative economies in the world, and over the years we’ve demonstrated that the UAE is a dependable and significant economic partner of the US.

The UAE is the US’s largest export market in the Middle East for seven consecutive years, and trades with all 50 US states. UAE investments in the US support hundreds of thousands of American jobs each year. Business partnerships between our countries are creating opportunities in sectors from transportation, aviation, and health care to semiconductors, construction, and defence.

Mubadala’s $6 billion investment in US-based GlobalFoundries, the second-largest semiconductor chip maker in the world, supports nearly 5,000 jobs in the north-east US.

In 2009, Dubai World’s Infinity World Development partnered with MGM Resorts International to build CityCenter Las Vegas, the largest privately funded construction project in US history. These are great examples of how the UAE contributes to the American economy and creates jobs.

In your experience, how do American companies view the UAE and the GCC region?

To read the full interview please click HERE

Image of Ambassador Yousef Al Otaiba provided by the U.A.E. Embassy in the U.S.