The Growth and Future Horizons of the UAE-US Non-Oil Trade
The non-oil trade between the United Arab Emirates (UAE) and the United States reached $31.4 billion in 2023, signaling a robust partnership that is poised for further expansion, according to Danny E. Sebright.
< 1 min
This trade volume marks a significant increase, with US exports to the UAE totaling $24.8 billion, up 19% from $20.8 billion in 2022, and imports from the UAE at $6.6 billion.
The UAE has consistently been the largest Middle Eastern and African market for US goods for the fifth year in a row, supporting 125,000 American jobs. Investments from the UAE into the US are also on the rise, diversifying into sectors such as real estate, manufacturing, healthcare, and technology.
Future Areas of Cooperation
Looking ahead, the president of the US-UAE Business Council, Danny E. Sebright, identifies healthcare and life sciences, financial services and private equity, and technology and artificial intelligence as key areas for enhanced collaboration in 2024.
Furthermore, both nations aim to build on the significant strides made in renewable energy, food security, and sustainability ahead of the UN Climate Change Conference (COP28), while continuing to strengthen their trade relationship in traditional sectors like space, defense, and energy.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Ensuring comprehensive health care and fostering innovation and job growth within the health sector.
< 1 min
The Council of Health Insurance and the Saudi Insurance Authority began implementing this decision, requiring employers to provide insurance for domestic workers if their number exceeds four.
The general requirements for applying benefits and coverage under the policy include submitting a medical disclosure form, obtaining approval from the health insurance company, and insuring all workers.
This mandatory health insurance initiative is part of the Council of Health Insurance and the Insurance Authority‘s efforts to ensure comprehensive care, prevention, justice, transparency, and excellence in performance for all stakeholders.
The decision aims to achieve comprehensive health care, sustain health coverage, and encourage health insurance companies and healthcare providers to develop new products and create job opportunities in medical and non-medical specialties.
Iman Al-Tariqi, the official spokesperson of the Council of Health Insurance, explained that the domestic workers’ insurance policy covers primary care, public health, emergency cases, hospitalization without a deductible, emergency treatments for clinics with unlimited visits, vaccinations, and examinations.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
