The UAE has joined the US-led Pax Silica initiative that seeks to secure the AI and semiconductor supply chain, following the signing of a declaration at the Zayed National Museum in Abu Dhabi on Wednesday.
The coalition focuses on the advancement and innovation of compute, silicon, minerals and energy as shared strategic assets.
It was signed by UAE Minister of State Saeed Al Hajeri and US Under Secretary of State for Economic Affairs Jacob Helberg in the presence of UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi.
Al Hajeri highlighted how the UAE is among the first countries invited to join the declaration, having attended the launch of Pax Silica in Washington last December.
He added that the UAE looks forward to work with the US and other signatory members to ensure that AI remains a driver for promoting prosperity.
Helberg emphasised on the significance of the strategic partnership as a representation of the structural shift in the economic system of the region, indicating the Gulf’s transition to a structure based on the foundations of sustainability.
He also extended an official invitation signed by US President Donald Trump and Secretary of State Marco Rubio for the UAE to participate in the Ministerial Meeting on Critical Minerals scheduled to be held in Washington in February.
The UAE and Argentina have announced the launch of negotiations for a Comprehensive Economic Partnership Agreement (CEPA), marking a new step in efforts to deepen trade and investment relations.
Meraas, part of Dubai Holding Real Estate, has awarded a contract worth nearly AED 1 billion to GCC Contracting to build 272 villas and townhouses in Phase 7 of Nad Al Sheba Gardens.
Meta CEO Mark Zuckerberg on Wednesday has unveiled a small handheld gadget called Meta Charm for using its new Muse AI assistant, taking the company's hardware efforts beyond its successful smart glasses.
The Central Bank of the UAE has imposed strict enforcement measures on the UAE branches of Bank Melli Iran following violations of regulatory requirements, including legislation related to anti-money laundering and combating the financing of terrorism and proliferation financing.
A free trade agreement between India and New Zealand, signed in April, will come into force on October 20, Indian trade minister Piyush Goyal said on Monday, as New Delhi seeks to boost exports and attract investment amid shifts in global trade.
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