ISDS Case Map
UAE
The UAE's decision to eliminate the monopoly in the foodstuffs sector will have a profound impact on the economy, according to analysts and businessmen.
South African exporters will now have more access to Kuwait's market after trade and industry minister Mandisi Mpahlwa yesterday signed a free trade agreement with the oil-rich Middle East country. The deal with Kuwait was concluded a day after Mpahlwa signed a free trade agreement with the United Arab Emirates (UAE), also an oil producer.
Welcoming the signing of the Free Trade Agreement between the US and the UAE, Anis Nassar, president of the American Business Council in Dubai said the move would help increase the economical potential of the Emirates.
DUBAI'S textile and garments market is one of the largest and strongest markets in the region. In 2004, Dubai's direct exports of the products reached Dh625 million, or 13 per cent of Dubai's direct exports, while re-exports reached Dh6 billion; leading to a total share of 10 per cent to the total value of goods Dubai directly supplied to the rest of the world.
Recently, Free Trade Agreements (FTAs) negotiations are being held between the GCC countries and the USA. Being crucial sectors in these countries' economies, the banking and financial sectors are being considered for liberalisation in the context of these FTAs.
National Bank of Dubai in a report outlined the US main objectives from regional trade agreements, the Free Trade Agreements (FTAs).
Australian Prime Minister John Howard has held talks with officials from the United Arab Emirates on another Free Trade Agreement. The UAE has the world's 3rd largest oil reserves.
In a meeting held recently at the Ministry of Finance and Industry (MoFI) in Dubai, the Rules of Origin National Committee agreed upon various elements including the official forms that will be adopted in the Free Trade Agreements (FTAs) that are currently under negotiation between the UAE and other countries.
Chairman of the Emirates Bank Group Ahmed Humaid Al Tayer has expressed disappointment about not involving the private sector in Free Trade Agreement (FTA) negotiations with the US, fearing it may turn out to be an 'agreement of mass destruction' for the domestic economy.
Gulf Arab efforts to defend a customs union suffered a setback after the United Arab Emirates refused to sign an accord barring bilateral trade deals except with the United States, Gulf sources said yesterday.
