(MENAFN - Emirates News Agency (WAM)) Abdullah Al Saleh, Undersecretary of the Ministry of Foreign Trade, has recently briefed in his office in the Ministry's headquarters in Abu Dhabi a U.S. Congressional delegation on the latest state of the UAE economy, the country's achievements in strengthening its international trade relations, building an open investment climate, on the facilitations and incentives it provides to the foreign investors and companies.
Al Saleh also answered a number questions the U.S. delegation had regarding the UAE's economic developments, especially about the country's foreign investment-attracting economic sectors, legislations regulating trade exchanges, and the various agreements signed between the UAE and U.S. and their role thus far in strengthening economic relations between the two countries. The delegation also inquired about the role joint investments play, and on means by which to remove obstacles facing investors from both countries.
Al Saleh commended the strength of the UAE's relations with the U.S., stating that the North American country is the UAE's third largest trade partner after India and China. He also pointed out that many private sector initiatives are taking place between the two counties in various sectors such as technology, aviation and manufacturing.
The meeting was also attended by Juma Al Kait, Assistant Undersecretary for Foreign Trade Affairs at the Ministry.
Bilateral trade relations between the UAE and the U.S. have witnessed noticeable developments in 2011, which saw a 28 percent increase in overall trade between the two countries in comparison with the previous year.