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UAE, US to lower trade barriers by aligning on standards

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ABU DHABI, 23rd September, 2022 (WAM) — The UAE’s Ministry of Industry and Advanced Technology (MoIAT) today signed a memorandum of understanding (MoU) with the American National Standards Institute (ANSI) with the aim of lowering trade barriers and promoting economic growth.

The MoU was signed during the ISO Annual Meeting 2022, which is taking place in Abu Dhabi this week. The MoU, one of two signed on Thursday, is in line with the ministry’s efforts to collaborate with global partners in the field of standardisation as part of its work to align with international standards and best practices.

Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology, and S. Joe Bhatia, President and Chief Executive Officer of ANSI, signed the MoU.

He commented, “ANSI is a valued partner and globally renowned standards organisation that shares our commitment to collaboration. Our MoU will help the UAE and US to capitalise on the strong ties between our two nations. Bilateral trade between the UAE and US stood at more than $23 billion in 2021. We can further build on this positive growth by lowering trade barriers.”

In the first half of 2022, the US was one of the UAE’s largest trading partners, with non-oil trade between the two countries reaching almost US$14.5 billion (AED 52.9 billion), according to the UAE Ministry of Economy.

Al Suwaidi added, “MoIAT’s MoU with ANSI reflects a global trend where standards are increasingly harmonised. This alignment connects global markets, helping to stimulate economic growth around the world. This global alignment also increases the competitiveness of locally manufactured products, helping the UAE to enhance industrial exports. As a ministry, we are keen on exploring partnerships and collaborations with organisations from around the world and we actively encourage entities to engage with us.”

S. Joe Bhatia, President and Chief Executive Officer of ANSI, said, “ANSI is honored to commemorate our strong partnership with the UAE and MoIAT, and continue our cooperation in international standards. As we know, standards form the foundation of the global economy and with this MoU ANSI and MoIAT look forward to supporting the fast-growing bilateral trade between our countries.”

The MoU between MoIAT and ANSI will facilitate cooperation in the areas of standardisation, and foster mutual exchange of information between the two bodies. MoIAT and ANSI will work with standards organisations in their respective countries to establish bilateral relationships that will promote joint ventures and the mutual exchange of information to stimulate industry-to-industry cooperation as a building block to international standardisation, which would enhance free trade.

The MoU aims to ensure that national standards and their application facilitate international trade and support consumer confidence. Both parties will work together to facilitate dialogue among UAE and US experts in various areas of standardisation and conformity assessment.

Earlier this week, MoIAT signed a separate MoU with the Korean Agency for Technology and Standards (KATS) with the aim of enhancing global trade. Trade and sustainability are key topics being explored at the ISO Annual Meeting 2022, which is taking place under the theme of “Collaborating for Good”.

More than 5,000 delegates, including officials and representatives of national standardisation bodies, as well as experts and technicians from more than 120 countries, are participating in the event, which runs until Friday.

Hosting the meeting in the UAE, which is a member of the ISO Council, reflects the country’s leading global role in the field of standardisation. It also highlights the UAE’s position as a globally recognised and established industrial hub that provides international investors with attractive industrial opportunities and a unique value proposition.

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