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UAE
United Arab Emirates
The UAE is not willing to make any political concessions to secure a free trade agreement with the US, Prime Minister Shaikh Mohammed bin Rashid Al Maktoum told Asharq Al Awsat newspaper yesterday.
The United Arab Emirates will resist pressure in free trade talks with the United States to open its telecommunications sector to foreign investors.
The fifth round of free trade negotiations between the UAE and the United States ended in Abu Dhabi yesterday without agreement. The closely guarded negotiations, held amid a virtual media blackout, centred around two core issues: investment and labour laws.
The UAE and the United States will resume their Free Trade Agreement (FTA) talks in Abu Dhabi on May 9, it was revealed here yesterday.
The US free trade agreement with the UAE might take unspecified time to sign, but the US hopes to ink the deal before the end of this year, although nothing is clear as yet, according to a senior official from the US Embassy in Dubai.
The combined effects of the ongoing Dubai Ports World furore over the sale of six major US ports that sparked a catalytic delay in Free Trade Agreement talks between the US and the United Arab Emirates, could provide a significant economic boost to not only the UAE, but also to the Middle East, experts have suggested.
As a consequence of the furore by the US congress over DP World’s acquisition of several American ports, the Dubai state-owned company decided to avert a long legal battle and agreed to put these assets up for sale.
A new study by the Dubai Chamber of Commerce and Industry analyses the impact of the UAE’s FTA with the US.
The governments of the United States, the European Union, and Australia are currently negotiating free trade agreements with the UAE. Human Rights Watch called on these governments to require improvement of UAE’s labor practices and legal standards before signing such agreements.
Free trade talks between the United Arab Emirates and the United States should resume at the end of April after a sudden delay this month, with a final deal seen by mid-year, UAE and US officials said on Monday.
The UAE and New Zealand are expected to begin talks on a free trade agreement (FTA) tomorrow, a top Govennment official said.
The United States is eager to resume trade talks with the United Arab Emirates after the furore over a ports deal with Dubai and hopes to clinch an agreement within the next few months.
US Ambassador Michele J. Sison yesterday termed the postponement of talks for Free Trade Agrement (FTA) between US-UAE a routine matter.
The United States and United Arab Emirates postponed their next round of free-trade talks, the two countries said on Friday, a day after a Dubai state-owned company said it would sell US port management operations to calm a political furor.
President Bush says he is concerned about international reaction to congressional opposition to a Dubai-owned company managing operations at some US ports. Opposition led the firm to announce it would transfer port operations to a US entity.
Opposition in the United States to a UAE firm taking over US ports will not deter the Arab state from more investments there, but could make other countries divert funds to Asia and Europe, the UAE’s economy minister said on Wednesday.
US business leaders voiced worry on Wednesday that a congressional uproar over an Arab company’s takeover of operations at key US ports could slow proposed free trade pacts in the Middle East, particularly with the United Arab Emirates, where the company is based.
A free trade agreement between the UAE and Australia is likely to be concluded by the middle of this year, said a top Australian official. The UAE is also likely to conclude another free trade agreement (FTA) with the United States, while the GCC is expected to sign its own FTA with the European Union in May.
In a replay of congressional efforts last year that foiled a bid by a Chinese company to buy a US oil firm, a group of hawkish US lawmakers, citing national security concerns, are trying to block a deal that gives a major Arab company control over a British firm that runs some US ports.
After almost two years, negotiations between the United Arab Emirates (UAE) and the United States over a Free Trade Agreement (FTA) are nearing an end, with the two sides expected to close a deal within a few months. But the debate over the effect of the agreement on the UAE’s economy has recently been reignited.
