|  | Lubna Al Qasimi meets the UAE-US Business Council MembersNov 2, 2008 - 07:55 - WAM Washington, Nov. 02nd, 2008 (WAM)--UAE Foreign Trade Minister HE Sheikha Lubna Al Qasimi, hailed strong relations and trade partnership between the UAE and US.
The remarks were made here during her meeting with the members of the UAE-US Business Council in presence of Yusuf Manea Otaiba, UAE Ambassador to United States of America.
"The two countries are more than strong partners, who play dynamic role in the global economy. The UAE is the biggest US trade partner in the Middle East. It was ranked 21 in the world as being the market for US exports in 2007", she said.
Lubna added that the trade exchange between the UAE and US touched US$12.9 billion, of which US$11.6 billion was US exports to the UAE market, while the UAE exports to the US markets surged 38 per cent between 2000- 2007 from US$972 million to US$1.3 billion. Non oil trade between the two countries grew in the first seven months this year by 24.2 per cent to US$8.1 billion against US$6.5 billion in corresponding period last. The US exports to the UAE market were US$8billion, while the UAE exports to the US markets were US$853 million.
She noted the UAE economy, which is the second largest economy in the Arab world, is the most viable and liberal economy in regards to sustainable growth and progress.
Lubna called on the US companies to benefit from the investment merits in the UAE market, which give them more access to huge markets in South East Asia, Africa and Europe.
The UAE-US Business Council was set up in May 2007 to boost commercial, economic and investment relations between the two countries.
Lubna also discussed with Shepard W. Hill, Senior Vice President, President Boeing International, boosting of the investment in the UAE. She called on Boeing Company to benefit from the UAE government plans on the economy diversification, particularly in the field of aviation.
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