India today urged Kuwait to support its efforts for early conclusion of talks for the proposed free trade agreement with the Gulf Cooperation Council (GCC).
The federal government, which is facing financial crisis and seeking loans from IMF and other financial institutes, is willing to pay Rs90 million to a Pakistani law firm to plead its case in an international court.
President Asif Ali Zardari has said that Pakistan has keen interest in concluding a free trade agreement (FTA) with the Gulf Cooperation Council (GCC) and seeks Kuwait’s support in this regard.
Government officials in Kuwait expressed their keenness over signing a Free Trade Agreement (FTA) with the United States but a senior US economic representative recently noted that talks with regards to the issue are ongoing.
"We are just waiting for the right conditions in place to sign a free trade agreement with Kuwait," said US Secretary of Commerce Carlos Gutierrez said on Wednesday, adding that an FTA with Egypt remains "an opportunity" and one with Libya "early" despite ongoing talks with Tripoli.
Kuwait and the US are now at the phase where they are "trying to understand and see whether there is an opportunity to move forward" from a Trade and Investment Framework Agreement to a bilateral investment treaty or free trade agreement, according to a US Treasury Department official.
US-Kuwaiti trade talks kicked off yesterday at the experts level tackling a number of economic issues within the Trade and Investment Framework Agreement (TIFA) signed between the two countries in February 2004.
A Free Trade Agreement (FTA) will be signed between the US and Kuwait by 2013, a senior US official said.
US Secretary of Commerce Carlos Gutierrez met today with HH the Amir of Kuwait to discuss the Kuwaiti-American commercial dialogue and Trade and Investment Framework Agreement (TIFA).
Prime Minister Shaukat Aziz has assured investors from Kuwait’s private and public sectors that Pakistan is open for business.
An annual reports released by the US Congress on Friday revealed that intellectual property rights remain a sticking point in progress towards a Free Trade Agreement between Kuwait and the US.
Pakistani Prime Minister Shaukat Aziz Wednesday approved negotiations on bilateral investment agreement between the governments of Pakistan and Kuwait.
According to US Trade Representative for Europe and the Middle East Shaun Donnelly, the only Arab country under consideration for beginning FTA talks before the summer of 2007 is Egypt.
The Kuwaiti Ambassador praised the level of trade relations between Kuwait and the United States, which is considered Kuwait’s largest trade partner, and expressed Kuwait’s hope that the ongoing trade negotiations would lead to a Free Trade Agreement (FTA).
The Free Trade Agreement (FTA) between Singapore and Kuwait is "a matter of time" as there are some outstanding issues surrounding such agreements that would have to be resolved, a senior Singaporean official revealed on Thursday.
Reports have circulated that Kuwait will lift its embargo on Israel, but they remain unconfirmed. The Kuwaiti daily Al Qabas noted that Kuwait had not yet signed a free-trade agreement with the United States. Such an agreement would not permit a trade embargo on Israel.
South African exporters will now have more access to Kuwait’s market after trade and industry minister Mandisi Mpahlwa yesterday signed a free trade agreement with the oil-rich Middle East country. The deal with Kuwait was concluded a day after Mpahlwa signed a free trade agreement with the United Arab Emirates (UAE), also an oil producer.
India’s decision to grant tax sops to Singapore-based FIIs under the comprehensive economic cooperation agreement (CECA) has prompted oil-rich Saudi Arabia and Kuwait to pitch for similar concessions in the double taxation avoidance treaties that are being negotiated with Indian tax authorities.
Singapore and Kuwait are discussing an Investment Chapter as part of the free trade agreement that’s currently being negotiated between the two countries.
With free trade agreements, come political leverage. Realising this, the United States is moving fast to sign bilateral FTAs with Gulf countries - in the hope that Washington would be able to fill a vacuum because of the slowness of these Arab states in starting any regional trading mechanisms of their own.