It has emerged following the second meeting of the UAE-US Joint Council for Trade and Investment in Washington that all obstacles to the creation of the planned UAE-US Free Trade Agreement have now been removed, paving the way for bilateral negotiations on the matter in the near future.
In a statement, the UAE's Ministry of Finance and Industry announced that:
"The meeting saw significant progress made in important areas identified during the inaugural meeting of the council held in April 2004."
Speaking to Gulf News this week, Khalid Ali Al Bustani, assistant undersecretary for budget and resources at the Ministry confirmed this, explaining that:
"The aim was to move closer to the targets this council was set up to achieve. The purpose of our discussion was to create opportunities for deeper economic cooperation to foster a healthy environment for investment and define any hurdles to trade between our two countries."
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