UPDATE - $1.4T in investment planned in US over next 10 years: UAE president

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By Rania Abu Shamala and Mohammad Sio

ISTANBUL (AA) – United Arab Emirates President Sheikh Mohammed bin Zayed Al Nahyan announced Thursday that his country plans to invest $1.4 trillion in the US during the next decade.

The announcement came during talks with US President Donald Trump at Qasr Al Watan in Abu Dhabi.

Channeled through Emirati investment institutions, the investments target sectors of the new economy, energy, advanced technology, artificial intelligence, and industry, he highlighted.

He emphasized that the United States is a strategic partner in the UAE’s space initiatives, including its Mars exploration program, astronaut missions and asteroid belt exploration project.

Addressing Trump, Al Nahyan said: “Last March, you stated that the UAE and the United States have always been strategic partners in supporting peace and security efforts in the Middle East and across the world. Today, I reaffirm that Abu Dhabi is committed to continuing our joint work with Washington to achieve peace and stability in our region and beyond.”

He stressed that the UAE remains committed to working with the US on efforts that promote peace and stability in the region and around the world.

“I am confident that this visit will have a profound impact on the future of our bilateral relationship,” he added.

Trump was welcomed upon arrival at the Abu Dhabi airport by the UAE president, state news agency WAM reported.

He toured the Sheikh Zayed Grand Mosque in Abu Dhabi alongside Crown Prince Sheikh Khaled bin Mohammed bin Zayed Al Nahyan, according to WAM.

The UAE is the third and last stop on Trump’s Gulf tour, after Saudi Arabia and Qatar.

His visit to Abu Dhabi is the first by a US president since 2008, when then-President George W. Bush paid a visit.