The UAE and the US, the largest economy in the world, signed a joint agreement on data transmission across borders and had a discussion about the significance of data collecting and transmission. According to Omar Al Olama, Minister of State for Digital Economy, AI, and Remote Working System, the UAE is committed to working with the US and establishing effective international cooperation to drive sustainable growth in the digital economy.
Mr Al Olama said the collaboration with the US reflects the UAE’s global message on the importance of promoting partnerships and joint initiatives between governments, solidifying international stability and economic co-operation.
Mr Al Olama held a meeting on Monday with Arun Venkataraman, assistant secretary of commerce for global markets and director general of the US and foreign commercial service, Sean Murphy, Charge d’Affaires at the US embassy in Abu Dhabi, and Meghan Gregonis, US consul general in Dubai.
He said the meeting reaffirmed the importance of building digital foundations based on data, knowledge and innovation. It will also enhance the ability to collect data and facilitate its transmission across borders to ensure the development of the digital economy, sharing solutions to pressing challenges and developing digital systems to achieve rapid growth in trade and the digital economy, Mr Al Olama added.
“Today’s announcement signals both our countries’ commitment to ensuring robust data privacy protections which are crucial to innovation and development of the digital economy and the future of US-UAE trade,” Mr Venkataraman said.
The meeting also discussed the expected benefits of accelerating digital transformation on the global economy and increasing the use of technology to supply services.
It touched on the importance of empowering the workforce and consumers, enhancing risk management capabilities and increasing innovation and economic growth.
Since 2009, the UAE has been the number one export market for US goods in the Middle East and North Africa region.
Last year, bilateral trade reached $23.03 billion, with the US exporting more than $17bn of goods and services to the UAE — a 16 per cent increase from 2020, official figures said.
This robust trade relationship reflects the success of the UAE’s increasingly diverse economy, of which non-oil sectors account for nearly 70 per cent.
Earlier this month, the UAE and the US also signed an agreement to invest $100bn to produce 100 gigawatts of clean energy globally by 2035.
