Bilateral deal-making involving governments of West Asia.
Photo: tbz.foto / CC BY-NC-ND 2.0
US Trade Representative Robert B. Zoellick today announced the Administration’s intent to negotiate Free Trade Agreements with the United Arab Emirates (UAE) and Oman.
A new trade promotion group — the US Middle East Free Trade Coalition (USMEFTA) — has been created to "expand free trade between the US and the Middle East and to encourage economic development, transparent and accountable governance, and enhanced prospects for the people of the Middle East region."
Members of the US congress expect that a free trade agreement will be signed between the USA and Qatar within one year. Qatar will provide the USA liquid natural gas and will attract direct American investments. However, Washington will set several preconditions before opening the door.
Turkey was searching possibilities to sign a free trade agreement (FTA) with Bahrain, which was getting prepared to sign one with the United States, Turkish Finance Minister said on Thursday.