Davos, Switzerland – UAE officials are optimistic that Donald Trump's return to power will strengthen economic relations between the United Arab Emirates (UAE), the Gulf Cooperation Council (GCC), and the United States.
Abdullah bin Touq Al Marri, the UAE's Minister of Economy, expressed excitement and positivity regarding Trump's second term as the 47th President of the United States. Speaking at a panel discussion during the World Economic Forum (WEF) in Davos, Al Marri noted the significant transformation the UAE has undergone over the past five decades, turning from a barren desert into a thriving, modern nation.
“I am very excited and very positive. You’re talking to a tribesman from the desert. Fifty years ago, we had nothing—no Burj Khalifa, no Emirates airline, no DP World. Today, we live in a sky city, 95% of our food is imported, and we desalinate seawater for drinking. We see opportunities everywhere to transform our world,” said Al Marri, emphasizing the UAE's ambition and vision for the future.
He further emphasized the strength of the relationship between the UAE, the GCC, and the US, underscoring that the Emirates would continue to foster this partnership during Trump's presidency.
Bilateral Trade and Investment Growth
In 2023, the volume of non-oil trade between the UAE and the US reached a remarkable $31.4 billion, with projections suggesting this growth will continue into 2024. According to Danny Sebright, president of the US-UAE Business Council, the pace of growth in this trade is expected to remain strong.
Khaldoon Khalifa Al Mubarak, CEO of Mubadala Investment Company, highlighted that the US is embarking on a growth strategy which will attract global investors. "We are talking about AI, technology, and energy sectors that will drive growth in the US and other parts of the world," Al Mubarak said during the panel.
Exploring Space Cooperation
The UAE has long been committed to the pursuit of space exploration, and Al Marri reiterated that the country is open to working with the US, particularly in Mars exploration.
“We are very interested in the space center in Florida and how we can collaborate with the US in space exploration,” Al Marri noted. He emphasized that missions to Mars and the moon may not necessarily lead to life on these planets, but the technological advancements resulting from such missions are transformative for everyday life—citing examples like microwaves and other household technologies.
The UAE has been an active participant in space exploration, working closely with NASA and other international partners. Notably, the country announced its involvement in the development of a module for NASA’s Lunar Gateway Station, in collaboration with the US, Japan, Canada, the European Union, and other global partners.
In addition, the UAE made history by sending its first Emirati astronaut into lunar orbit, part of an ambitious space exploration agenda.
Aiming for a Thriving Space Sector
The UAE's space industry has made impressive strides, with the country investing Dh40 billion in the sector in recent years. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, emphasized that the UAE's leadership has a clear vision for space exploration, including missions to the moon, Mars, and even the asteroid belt.
Al Marri also stressed that the UAE is focusing on creating opportunities for the region's youth through science and technology, with a particular emphasis on space. “We now have 50 space companies in the UAE, and we want to continue growing them,” he stated, underscoring the importance of developing space clusters as part of the broader effort to diversify the UAE's economy.
