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Abu Dhabi, United Arab Emirates – Last week, Export-Import Bank of the United States (EXIM) President and Chair Reta Jo Lewis signed a Memorandum of Understanding (MOU) with the Abu Dhabi Investment Office (ADIO) that will strengthen trade and investment ties between the United States and United Arab Emirates (UAE). The MOU will drive collaboration to support small- and medium-sized enterprises (SMEs) and sectors important to national and economic security, including emerging technologies, critical minerals, and infrastructure, including telecommunications.

“EXIM is proud to partner with ADIO in advancing trade and innovation. In 2023, the U.S. exported over $24 billion to the UAE. EXIM’s new partnership with ADIO will further expand the reach of U.S. companies into the Middle East through Abu Dhabi, a global gateway for investment and innovation,” said Chair Lewis. “We look forward to collaborating with ADIO and delivering sustainable economic benefits for both regions.”

The MOU, signed December 10 by Chair Lewis and H.E. Badr Al-Olama, Director General of ADIO, during Abu Dhabi Finance Week marks a significant milestone in facilitating the export of U.S. goods and services from the U.S. to Abu Dhabi in priority sectors such as critical minerals, infrastructure, telecommunications and emerging technologies. The agreement aims to advance renewable energy solutions like green hydrogen and energy storage systems, strengthen critical mineral supply chains, and foster innovation in biotechnology, AI, semiconductors and quantum computing. In telecommunications, this collaboration focuses on supporting the rollout of 5G networks, while other infrastructure projects will target transformative advancements in transportation systems.

The agreement also aims to promote knowledge and information sharing, capacity building and the exchange of best practices, ultimately enhancing the competitiveness and growth of businesses in both Abu Dhabi and the United States. The agreement includes support for SMEs, with an emphasis on women-owned businesses.

“Abu Dhabi is committed to forging impactful, global partnerships that drive innovation and bolster the emirate’s international trade. By connecting the U.S.’ dynamic business ecosystem with Abu Dhabi’s forward-thinking economic vision, this collaboration with EXIM is set to lay the groundwork for transformative trade and investment opportunities in critical sectors,” said H.E. Badr Al-Olama, Director General of ADIO. “Together, we are well-positioned to empower investors and businesses to thrive amid a rapidly evolving global landscape, while contributing to a resilient economic future.”

Abu Dhabi Finance Week coincided with Abu Dhabi Space Debate, and Chair Lewis attended a space industry dinner alongside academics and government leaders, including the United States Ambassador to the UAE Martina Strong and representatives from the U.S. Department of Commerce, U.S. Department of State, the UAE Space Agency and the U.S.-U.A.E. Business Council. This event focused on the space industry's challenges and opportunities, and how to ensure sustainability, security, and the future of space, including equitable access to outer space.

Chair Lewis also addressed the U.S. Chamber of Commerce’s Space NXT Business Delegation to the UAE where she reaffirmed EXIM’s ability and know-how to finance and support space exports. She also highlighted EXIM’s suite of financial tools and programs, including the China and Transformational Exports Program (CTEP) and the flagship Make More in America Initiative that ensure American companies can compete and win in the global marketplace.

Chair Lewis’ visit comes two months after she, alongside U.S. Ambassador to the UAE Martina Strong, led a U.S. trade delegation to the UAE and addressed attendees of the Gulf Information Technology Exhibition (GITEX), the largest tech show in the world. Chair Lewis further deepened cooperation in advanced technology and investments between the U.S. and UAE, as President Joseph R. Biden Jr. and His Highness Sheikh Mohamed bin Zayed Al Nahyan pledged at the White House in September.