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
Minister of Foreign Trade Sheikha Lubna Al Qassimi said on Tuesday that she hoped the UAE would soon sign a free trade agreement (FTA) with the US.
A $1 billion lawsuit between Tecom Investments and a US company could hinder free trade talks between the US and the UAE, a US Congressional document shows.
The UAE has taken a second route to an FTA with the US after failing to meet the time frame originally established by the Trade Promotion Authority granted by Congress: the Tifa-Plus (Trade and Investment Framework Agreement) process, which provides a framework for further discussions on the FTA and on short-term issues.
Negotiations for a free trade agreement between the US and the UAE will not be resumed under the current US administration, according to the US Trade Representative office
A top United States official on a two-day visit to the UAE has indicated the Free Trade Agreement (FTA) between the two countries is likely to be delayed further.
The June 30 expiration of the Trade Promotion Authority (TPA), which allowed the Bush administration to negotiate trade agreements that cannot be amended by Congress, has shattered all hopes of a revival of the stalled US free trade negotiations with the UAE and other GCC countries.
The United States and the United Arab Emirates still hope to reach a free trade agreement and plan to resume talks whenever the White House wins new "fast-track" trade negotiating authority, officials from both countries said on Monday.
US trade officials said yesterday they would not finish free trade talks with the UAE by a deadline at the end of this month. Investment is one issue that negotiators have failed to find agreement on.
The UAE and the United States have confirmed that the negotiations for a Free Trade Agreement (FTA) will continue, officials said. "The talks are not suspended. What happened is that the documentation will not be ready by the March 31 deadline," US Ambassador Michele J. Sison told Gulf News yesterday.
Talks between the US and the UAE over a free trade agreement have been suspended after both parties failed to agree on how the Gulf state would open up its markets to US investors and banks. The FTA will now miss the March 31 deadline.