The Abu Dhabi Investment Office (ADIO) has partnered with the Export-Import Bank of the United States (EXIM) to strengthen economic ties and promote trade between the UAE and the US. The Memorandum of Understanding focuses on enhancing bilateral trade and supporting renewable energy initiatives, including green hydrogen and energy storage systems, and improvements to supply chains for critical minerals.
It also emphasises the advancement of innovation in biotechnology, AI, semiconductors, and quantum computing. In telecommunications, the collaboration will assist in the rollout of 5G networks, while in infrastructure it will target advancements in transportation systems.
It’s hoped the partnership will boost the competitiveness of businesses in both regions by facilitating knowledge sharing, capacity building, and the exchange of best practices. It includes support for SMEs, particularly women-owned businesses.
This collaboration seeks to enhance sustainable economic growth and foster increased trade, offering opportunities for both US and Abu Dhabi-based companies, and enabling greater access to credit lines and guarantees.
Gulf Economist Staff Writer