The UAE's Ambassador to the US has said that the country remains “open for business” and will “navigate this period successfully”.
The UAE's Minister of State and Ambassador, Yousef Al Otaiba, wrote the letter to the US-UAE Business Council for the occasion of Eid Al Fitr, and emphasised the country's commitment to investments and partnerships with the US.
“The UAE's $1.4 trillion investment and economic framework with the US, announced last year, will stay on track with plans to accelerate deployment and funding,” he wrote, adding that a pipeline of deals were in the works related to AI, energy, advanced manufacturing and critical infrastructure.
Mr Al Otaiba also reflected on the war, which began on February 28. “This is not a war we wanted and we worked intensely to avoid it,” he wrote, pointing out that UAE diplomats were in Tehran in the weeks before US strikes began.
“But even as we held hope and pursued de-escalation, we also knew a war could someday come,” he added.
Mr Al Otaiba said the UAE had been well nrepared for the type of scenario currently unfolding by acquiring “the most sophisticated missile and drone defences”.
Referring to the problem of ships being unable to pass through the Strait of Hormuz, Mr Al Otaiba pointed out that the UAE was prepared because it had “constructed an oil pipeline bypassing the Strait of Hormuz and built sovereign wealth reserves of more than $2 trillion”.
He also praised US companies like Microsoft, Oracle, Amazon and the Cleveland Clinic, stating that they had “not flinched” despite Iranian threats.
“The UAE's response to this moment is not to 'shelter in place,' he wrote. “It is to move forward,” he continued, adding that the country plans do just that with its “closest partners”, the US.
Mr Al Otaiba drew parallels between the current situation and the UAE's experience in dealing with the Covid-19 pandemic, saying that officials, residents and businesses managed to accelerate investments, bolster food security and ensure supply chain resilience.
“We will do the same now,” he said. “Every challenge motivates us as we look to the future.”
