The UAE and the US have signed a new customs cooperation agreement to boost their economic ties. The agreement aims to reduce customs violations, combat illicit trade, and enhance technical collaboration between the two nations. The UAE and the US have a robust economic relationship, with bilateral non-oil trade reaching $31.4 billion in 2023. The UAE remains the largest market for US goods in the Middle East, and US exports to the UAE supported approximately 125,000 jobs across the US in 2023. The customs cooperation agreement highlights the UAE's role as a regional gateway for global trade.
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Original article source: https://www.arabnews.com/node/2572715/business-economy
Source Id: 2024-09-495849555