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
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.
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 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.