Bilateral trade between US and UAE rises $4.75 billion in 2005
Bilateral trade between the United States and the UAE in 2005 rose to $9.95 billion (Dh36.5 billion) compared to $5.2 billion (Dh19.2 billion) the previous year.
The UAE received Dh8.4 billion in American investments in a number of sectors, reported <i>Gulf News</i>, which quoted a financial report from the US Trade Department.
The report added that as a result of evolving investment laws in the UAE, the business climate has been made more hospitable to foreign investment,
Total US foreign direct investment in the UAE stood at $2.3 billion.
The report added that there is currently no federal legislation for investors in the UAE, while foreign ownership of land and stocks is restricted despite liberalizing measures taken.
The UAE is also opening up its trade sectors in line with its World Trade Organization guidelines, loosening restrictions for foreign investors.