ISDS Case Map
GAFTA
"We do not need a free trade agreement with the UAE as there is already the Pan-Arab Free Trade Agreement (PAFTA), which we will implement," Prime Minister Dr Nadeef said. PAFTA is an agreement to establish a pan-Arab free trade area by 2008.
The World Economic Forum on the Middle East concluded in Egypt last month with the drawing up of a list of objectives aimed at driving the growth of the regional economy. In the wake of these talks one thing is clear; business in many sectors is booming and Egypt's manufacturing industry is reaping the rewards of the Arab Free Trade Agreement (AFTA).
The Arab Agricultural Engineers Union on Monday convened its 16th technical conference to discuss "Agricultural Integration under the Establishment of Greater Arab Free Trade Zone." The zone, which came into effect in late 2005, includes 18 member states and represents 94 per cent of all Arab trade.
The Great Arab Free Trade Area Agreement (GAFTA) was enforced in January 2005 after a 7-year preparatory transition period. This is the first joint Arab economic action likely to help the Arab countries gain huge profits in line with the regulations of the WTO, the venue absorbing regional economic blocs. Most probably, the results in the first experimental year were not up to the expectations.
Arabs have been trying for decades to establish some sort of economic cooperation between them, but without much luck.
