|  | Lubna Al Qasimi discusses bilateral cooperation with US officialNov 2, 2008 - 04:42 - WAM Washington, Nov. 2, 2008 (WAM) -- Foreign Trade Minister, Shaikha Lubna bint Khalid al-Qasimi, met here Saturday evening with US Under Secretary of State for Economic Affairs, Reuben Jeffery and discussed with him bilateral relations and ways to boost them in view of the numerous opportunities in the two countries.
They also discussed the current global financial crisis and efforts being made to get it under control.
She reiterated the strength of the UAE economy and the country's great potentials in various areas.
She briefed the US official about UAE's potentials and its investment climate, including the legislative and legal environment and opportunities in various fields, and cited the rapid growth of the UAE's economic sectors and the country's excellent infrastructure in all sectors.
She urged American companies to seize the opportunity on the UAE market. She said many international firms operating in various sectors had made the UAE the regional hub of their operations.
She pointed out that the UAE is the US' no. 1 trade partner in the region, being the no. 1 importer of US goods in the Middle East region.
The UAE minister made a presentation about the steps taken by her country to deal with the global financial crisis, saying that the UAE, based on the directives of the country's leadership, pumped in AED120 billion (about US$32.7 billion) into the economy, adding that the step reflects the UAE leadership's commitment to provide the necessary guarantee in support of the UAE's banking sector to ensure the strong economic growth is successfully maintained and the national economy protected. "It also shows the great ability of the UAE government to quickly intervene and respond positively to provide stability to the country's financial and banking sector," she added.
Jeffery, for his part, reiterated the US commitment to further boost cooperation with the UAE. He lauded the UAE for achieving great development in all fields. He also lauded the UAE for its successful measures during the global financial crisis.
Meanwhile, Shaikha Lubna has also met with US Assistant Secretary of State for Middle East Affairs, David Walsh and discussed with him bilateral relations between the UAE and the US. They also discussed the global financial crisis and efforts being made to arrest the situation.
The two officials lauded the strategic political and economic relations between the UAE and the US and reiterated their countries' commitment to further boost these ties for their mutual interest.
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