UAE is interested in taking its economic partnership with US to new heights: Lubna

Abu Dhabi, Jan 16, 2012 (WAM) - The UAE is very interested in further boosting its cooperation with the US particularly in trade and investment and opening up new avenues of collaboration in future in lighting of the available, diverse opportunities in these two sectors, Sheikha Lubna Bint Khalid Al Qasimi, Minister of Foreign Trade, said yesterday. She underlined during talks with visiting US Under Secretary of State for Economic, Business, and Agricultural Affairs Robert Hormats the importance of the role the Small and Medium Enterprises (SMEs) could play in bolstering joint economic cooperation. Sheikha Lubna also stressed the need for sharing expertise and ideas on best methods to improve SMEs performance and export capacity so as to compete in international markets. Sheikha Lubna informed the US official about the UAE's strengths in the renewable energy sector which US companies can tap to expand their operations in the UAE market through joint strategic investment partnerships. The US official asserted the UAE would remain an important player in the Middle East and acts as a leverage for boosting the US bonds with the region given its status as a world trade hub and a key market for US exports in the region. He said the US is looking forward to use the vibrant, deep relations with the UAE to explore new opportunities for joint economic and investment partnership. UAE-US non-oil trade grew 22% in the first nine months of 2011 to US$10.7 billion with imports standing at US$ 9.9 billion, exports at US$ 260 million and re-exports at US$558 million surging 22, 38 and 25 % respectively in comparison with the corresponding period in 2010. - Emirates News Agency, WAM