(MENAFN- Khaleej Times) The US has enjoyed warm ties with the UAE since its unification in 1971. It was the third country to establish formal diplomatic relations with the UAE and has had an ambassador resident in the UAE since 1974. The partnership has grown by leaps and bounds, and both countries currently enjoy strong cultural and commercial relations.
American firms have a firm footing in the region with their first-mover advantage in a number of fields. American banks and oil companies have been active in Dubai and Abu Dhabi since the 1960s.
As soon as diplomatic relations were established, more US conglomerates ventured into the local market to test waters. In 1972, Hilton Al Ain became the first international hotel brand to operate in the UAE. General Motors Middle East followed in 1979.
By 2015, more than 1,000 American companies were present in the UAE, of which some bigwigs such as Facebook and CNN have stationed their regional headquarters in the emirates.
The UAE is the only Arab country that has allowed American oil companies to acquire participation stakes in oil concessions and did not nationalise the assets of any foreign oil company, unlike its neighbours.
American commercial banks, asset managers, investment banks and private equity firms are prominent in Dubai International Financial Centre (DIFC).
Companies from the US are preferred choices in the food and beverage space too. Fast food chains and cafes such as McDonalds, Burger King, Starbucks and Kentucky Fried Chicken are ubiquitous in the emirates.
The tax-free environment and sunny climes of the country have attracted more than 30,000 Americans to the UAE, who prefer to work and live here.
On the commercial front, the UAE is among one of the largest exporting markets for the US. During the first nine months of 2015, exports reached $1.9 billion, or 40 per cent of the total GCC non-oil merchandise export with the US.
Culturally, American shows and movies command large viewership. Most Hollywood movies are screened on the same date as its international release date, and celebrities are often seen gracing red carpet events and movie promotions. Besides, the UAE is also increasingly being opted as a preferred destination for filming. Recent blockbusters such as sequels of Mission Impossible, Fast and Furious, Star Wars - The Force Awakens and many more have chosen its deserts as a movie set.
Diplomacy
American diplomacy in the region relies heavily on its friendly association with the UAE. The two nations have an active interest in a spectrum of diplomatic, military, economic, energy, trade, educational and socio-cultural partnerships.
The US has played a crucial role in the development of several industries in the UAE such as banking, logistics, infrastructure, aviation, defence, oil and gas, consumer economy and the telecommunication industry. The UAE is the largest export market in the Middle East for American companies.
In the aviation space, the two countries are growing at an enormous pace. Since the launch of the first non-stop flight from Atlanta to Dubai, the frequency and number of flights have increased. Emirates and Etihad Airways fly cargo and passengers non-stop daily to several cities in the US. Emirates airline has increasingly inducted the US-based Boeing aircraft into its fleet. It is the biggest user of Boeing aircraft in the world.
Making aviation history in 2013, Emirates placed the largest-ever commercial aircraft order for over 300 new Boeing aircraft with a value of more than $120 billion at the Dubai Airshow.
The UAE''s sovereign wealth funds and agencies, notably the Abu Dhabi Investment Authority and the UAE Central Bank, are among leading investors in the US Treasury bond market, equities, property and private equity funds.
Both the countries have also established joint task forces on money laundering, terror financing, nuclear technologies and enforcement of export control laws on sensitive technologies.
Defence ties
A few years ago, the US Congress approved a UAE request to purchase more than $15 billion in defence equipment, including the world''s most sophisticated missile defence system. The UAE is the only country other than the US to deploy this technology.
Even today, the UAE is looking to buy $476 million worth of missiles from the US. Industry experts suggest that the UAE has requested for a possible sale of 4,000 missiles over the next three years in increments of 1,000 to 1,500.
The UAE was also first in the Arabian Gulf to sign an agreement with the US to cooperate on development of a civilian nuclear energy programme. Consequently, Emirates Nuclear Energy Corporation, the entity responsible for overseeing the UAE''s nuclear programme, was established.
Both the secretary of state John Kerry and vice-president Joe Biden have lauded strong ties with the UAE during their official visits to the UAE in the past nine months.
Education, other sectors
The UAE has been successful in attracting the best medical and academic institutes. The New York University, a major research university in the US, established its first comprehensive liberal arts campus outside the mainland in Abu Dhabi.
Masdar Institute of Science and Technology cooperated with the Massachusetts Institute of Technology to establish the world''s first graduate level university focused on future energy. The research campus is headquartered in Abu Dhabi.
The emirates is also home to Carnegie Mellon, Boston University, John Hopkins and American College of Dubai, as well as reputed names in healthcare such as Cleveland Clinic.
The UAE University recently signed a licensing agreement with BioLegend, a US-based pharmaceutical company, for UAE patents. The agreement will see four patents being used to help detect Parkinson''s disease.
The two nations have also signed an agreement to collaborate on space exploration and aeronautics research, including a potential journey to Mars.
The association is benefitting both nations and is expected to bolster relations further. -
Suneeti Ahuja Kohli Suneeti Ahuja-Kohli has been in Dubai long enough to call it her spiritual home. She loves to travel but plans to settle down in Koi Samui, Thailand eventually to spend her sunset years by the sea. For now, she writes frequently on personal finance, retirement planning, business news and features, health and almost anything assigned by her editor. Her sojourns can be followed on instagram (suneetiahujakohli), news and views on Twitter suneetiahuja, and for the rest, theres a Facebook account.