US Trade Representative Susan Schwab, United Arab Emirates (UAE) Minister of Commerce and Planning, Shaikha Lubna Al-Qasimi and Minister of State for Finance, Mohammed Khalfan bin Khirbash have discussed ways to deepen the US–UAE economic relationship and improve bilateral trade and investment ties.
The meeting took place recently in Washington under the auspices of the US– UAE Trade and Investment Framework Agreement (TIFA) Plus Council, a joint body created earlier this year.
“Our talks were very productive and we have laid the groundwork for substantive cooperation in a number of areas including Intellectual Property, the Digital Economy and in the area of standards” announced Ambassador Schwab. “I am pleased with the progress made under the TIFA Plus Council. Both sides have agreed to a specific work plan under which the Council will make continued progress on cooperative activities over the next six months.”
“The UAE is a model within the Middle East of economic diversity and trade liberalization, and we look forward to improving our bilateral relationship and working together on the Doha global trade negotiations,” added Schwab. “The constructive meetings between our officials illustrate our government’s commitment to trade and investment liberalization.”
The TIFA Plus Council meeting was the first meeting between US and UAE trade officials since both sides announced that it would not be possible to complete FTA negotiations under the existing Trade Promotion Authority. The discussions covered a variety of economic topics, and several areas were identified for enhanced cooperation. The goal of the TIFA Plus Council meetings is to build upon the significant progress made in the FTA negotiations, and work towards an eventual resumption of negotiations.
The UAE is currently the United States’ 34th largest goods trading partner, with $13.3 billion in total (two way) goods trade during 2006. The UAE is currently the 19th largest goods export market, with US exports of $11.9 billion in 2006, and the 71st largest supplier of goods during the same period. Top exports to the UAE in 2006 included: aircraft ($5.3 billion), machinery ($1.7 billion), vehicles ($1.3 billion) and electrical machinery ($597 million).
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment