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 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.
Representatives from the business and the academic segments have discussed the strong debated issue, the agreement, including real objectives behind it, probable local and regional advantages and disadvantages and the UAE’s readiness for signing such agreement.
Dr Khalid Mohammed Al Khazraji, UAE Under-Secretary of the Ministry of Labour and Social Affairs, denied reports that the country would be enacting a new labour law, stressing that the UAE Labour Law No. 8 of 1980 is undergoing several amendments. He also denied any link between the amendments under way and proposals submitted by the US delegation in the context of the US-UAE FTA negotiations.
The free trade agreement (FTA) negotiation council aims to properly oversee ongoing preparation for the first round of official UAE-US FTA negotiations, due to take place in Abu Dhabi next month, said Dr. Mohammed Khalfan bin Kharbash, UAE Minister of State for Financial and Industrial Affairs.
The United Arab Emirates Ministry of Finance and Industry has contracted an international consultancy firm, Maxwell Stamp, to undertake an impact analysis of the effects a US-UAE Free Trade Agreement (FTA) on the local economy.
UAE will have to change its labour code to meet international labour laws, revise the agency law and investment / sponsorship rules in order to sign a Free Trade Agreement (FTA) with the US, according to US Trade Representative Robert Zoellick.
The United Arab Emirates and US made significant progress towards a Free Trade Agreement on Wednesday, paving the way for negotiations to start in the near future.
The UAE is ready to enter negotiations with the United States for a full-fledged free trade agreement that would dramatically boost trade and the flow of investment between both countries.
H.E. Dr. Mohammed Khalfan bin Kharbash, UAE Minister of Finance and Industry today called for a fully-fledged Free Trade Agreement between the UAE and the United States of America.