FTA will open up new avenues: US official
Times of Oman
FTA will open up new avenues: US official
By A Staff Reporter
13 December 2005
MUSCAT - The immediate effect of the free-trade agreements would help unleash the economic potential of both the US and Oman, a top US official said yesterday.
Martha E. Newton, acting deputy undersecretary of labour, expressed hope that the immediate outcome of the FTAs would enhance the economic potential as well as create new ideas, new markets and new products that will enrich both national economies, their enterprises and workers.
She mentioned this in her speech at the opening ceremony of the regional labour dialogue yesterday.
She expressed her delight to speak at a time when the US and Oman have recently completed negotiations for a free-trade agreement. “We have jointly determined that both our future will be more successful if we work together,” she said.
“We, in the US government are extremely proud of our growing relationship with the countries of this region. Over the past few years, we have signed FTAs with Jordan, Morocco and Bahrain and recently concluded negotiations with Oman. We also look forward to broadening our trade relationships with all the countries of the region.”
Martha Newton noted that although all the negotiations were challenging, they were ultimately successful. “Moreover, the process of developing these relationships, and working toward our vision of a Middle East free-trade area, has truly enabled us to build a new, broader and richer relationship that is based on long-lasting and deeply entrenched strategic, economic and social interests and commonalities.”
She hoped the dialogue would help build a labour system that serves the interests of workers, but also takes into account the needs and interests of businesses and governments.
“We expect that in the course of having this conversation, we will come across a number of challenging issues like building enduring systems of labour relations and finding new ways to improve workplace practices can often be frustrating, difficult and complex.
“Nevertheless, there is no alternative for developing an economic system that can bring about sustainable productivity and competitiveness on both the enterprise and national level.”
