The US is trying to secure a bilateral free trade agreement with the United Arab Emirates as part of its drive to patch together an overall US-Middle East FTA by 2013.
Talks started in 2005, after the signature of a US-UAE Trade and Investment Framework Agreement in 2004, and were supposed to wrap up in 2006. However, the Dubai Ports World scandal that erupted in the US in 2006 put all this on ice and the process has not recovered since.
last update: May 2012
Photo: *_* / CC BY 2.0
Talks between the US and the UAE over a free trade agreement have been suspended after both parties failed to agree on how the Gulf state would open up its markets to US investors and banks. The FTA will now miss the March 31 deadline.
Major sticking points still obstruct a deal, including Washington’s insistence on improvement of labourers’ rights and the country’s overall human rights record.
Stop-start free trade talks between the UAE and the United States are making progress, according to the UAE Ministry of Finance and Industry. The Ministry did not comment on reports that the UAE’s record on human rights and the banning of labour unions are obstacles.
The United Arab Emirates is mulling whether to make political concessions to the United States in a free trade pact that has eluded both countries for nearly two years.
Free trade negotiations between the United Arab Emirates (UAE) and the United States is at risk of unraveling if an agreement can not be reached next month, UAE government officials said Monday. US oil and gas exploration and development companies stand to lose billions if the Bush administration cannot work it out in time.
The Bush administration needs to wrap up a deal with the UAE by late March to get it through Congress before its "trade promotion authority" expires at the end of June.
A free trade deal between the US and the UAE is still possible, even though talks fell off track last year, a US business leader said.
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.