The Bush administration hopes to initiate more free-trade agreement (FTA) negotiations in 2006, possibly with South Korea and Malaysia, US Trade Representative Rob Portman says.
Investment opportunities will continue to increase in the UAE, according to the principal of one private Equity fund, who pointed to anticipated changes in the federal Company Law as further indication of the country’s liberal economy.
Recent difficulties in the implementation of Morocco’s free trade agreement with the UAE have raised questions regarding the kingdom’s readiness for trade liberalisation. They might also further delay the entry into force of more crucial free trade deals.
The UAE and US will resume their FTA negotiations on the 12 through the 16 of November in London.
According to a top UAE government official, double taxation agreements are paving the way for future free trade agreements and saving millions of dollars for of local companies.
Though many regional free zones have been around since the early 1980’s, only recently has the free zone frenzy emerged, coinciding with countries developing free trade agreements (FTA) with their neighbours and others wanting to become members of the WTO.
The UAE’s decision to eliminate the monopoly in the foodstuffs sector will have a profound impact on the economy, according to analysts and businessmen.
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.
Welcoming the signing of the Free Trade Agreement between the US and the UAE, Anis Nassar, president of the American Business Council in Dubai said the move would help increase the economical potential of the Emirates.
DUBAI’S textile and garments market is one of the largest and strongest markets in the region. In 2004, Dubai’s direct exports of the products reached Dh625 million, or 13 per cent of Dubai’s direct exports, while re-exports reached Dh6 billion; leading to a total share of 10 per cent to the total value of goods Dubai directly supplied to the rest of the world.
Recently, Free Trade Agreements (FTAs) negotiations are being held between the GCC countries and the USA. Being crucial sectors in these countries’ economies, the banking and financial sectors are being considered for liberalisation in the context of these FTAs.
National Bank of Dubai in a report outlined the US main objectives from regional trade agreements, the Free Trade Agreements (FTAs).
Australian Prime Minister John Howard has held talks with officials from the United Arab Emirates on another Free Trade Agreement. The UAE has the world’s 3rd largest oil reserves.
In a meeting held recently at the Ministry of Finance and Industry (MoFI) in Dubai, the Rules of Origin National Committee agreed upon various elements including the official forms that will be adopted in the Free Trade Agreements (FTAs) that are currently under negotiation between the UAE and other countries.
Chairman of the Emirates Bank Group Ahmed Humaid Al Tayer has expressed disappointment about not involving the private sector in Free Trade Agreement (FTA) negotiations with the US, fearing it may turn out to be an ’agreement of mass destruction’ for the domestic economy.
Gulf Arab efforts to defend a customs union suffered a setback after the United Arab Emirates refused to sign an accord barring bilateral trade deals except with the United States, Gulf sources said yesterday.
The UAE and Australia will hold a second round of talks next week in Abu Dhabi to clear the way for the Free Trade Agreement (FTA) to boost trade and investment between the two countries.
Negotiations between the UAE and the US on a free trade agreement (FTA) are making progress. Two more rounds of discussions should produce the final draft of an accord, according to a senior US official.
The United States said on Thursday that it is pleased with the progress made in this week’s trade negotiations with the United Arab Emirates (UAE).
Progress towards a free trade agreement between the UAE and the US stepped up yesterday when the country’s negotiating committee met to review its position and preparations for the second round of talks, scheduled to take place in Washington DC from May 10 to 12.