Tuesday 30 May 2023 - 6:23:57 pm

Joint Statement on 9th U.S.-UAE Economic Policy Dialogue

ABU DHABI, 30th September, 2022 (WAM) -- The United States and the United Arab Emirates held their ninth Economic Policy Dialogue (EPD) on September 28, 2022. The dialogue was co-chaired by the UAE Acting Director of the Economic and Trade Affairs Department at the UAE Ministry of Foreign Affairs and International Cooperation Ahmed Abdalla Burhaima and U.S. Special Representative for Commercial and Business Affairs Dilawar Syed.

The Dialogue was conducted in a hybrid format, with representatives participating both virtually and in-person in Abu Dhabi. During the discussions, the co-chairs highlighted the many achievements resulting from last year’s EPD, including the signing of a Memorandum of Understanding (MoU) on Innovation; the progress made on appointing the United Arab Emirates’ first Intellectual Property Attaché; increased engagement on data privacy, including participation in the Global Cross Border Privacy Rules (GCBPR) Forum; and cooperation on combating illicit finance.

Participants discussed areas for further cooperation and opportunities to expand engagement on a range of critical topics, including sanctions, Open RAN 5G technology, cybersecurity, the digital economy and interoperability, women’s economic empowerment, intellectual property, clean energy initiatives, food and water security, global health security, and health cooperation. The two sides also discussed bilateral trade, with the UAE raising its concerns in regards to U.S. 232 tariffs on aluminum and steel.

Both governments highlighted the Agriculture Innovation Mission for Climate (AIM for Climate), co-founded by the United States and UAE, as a key effort to find solutions at the intersection of agriculture and climate change. Discussions also took place on the possible signing of an MoU between the U.S. Department of Health and Human Services and the Abu Dhabi Department of Health.

During the Dialogue, UAE Minister of State Ahmed Al Sayegh and U.S. Department of the Treasury Under Secretary for Terrorism and Financial Intelligence Brian Nelson officially launched the Anti-Money Laundering/Countering the Financing of Terrorism (AML/CFT) Working Group. The working group formalises longstanding bilateral technical cooperation and capacity-building on AML/CFT.

Both governments reiterated their satisfaction with the EPD and the important role it plays in fostering enhanced cooperation on a growing array of economic, commercial, trade, and investment topics. The two sides also underlined their commitment to ensuring the further growth of the U.S.-UAE economic partnership.

At the conclusion of the EPD, both co-chairs confirmed their delegations would maintain close and constructive engagement to ensure that the issues discussed during the Dialogue are effectively and tangibly advanced.