In a letter sent to Congress last week, US Trade Representative, Robert Zoellick signalled the government's intention to pursue free trade agreements (FTAs) with the United Arab Emirates and Oman.
Writing shortly after his return from the Gulf region, Mr Zoellick explained to Senator Ted Stevens (R-Alaska), the Senate's President Pro Tempore, that:
"A free trade agreement with the UAE and Oman will promote the President's initiative to advance economic reforms and openness in the Middle East and the Gulf, moving us closer to the creation of a Middle East Free Trade Area."
In addition to suggesting that FTAs with the UAE and Oman will build on progress already made in the region, and will encourage Gulf Cooperation Council (GCC) member countries to adopt "standards that promote trade and investment", the USTR's letter pointed to the benefits of such arrangements for the United States.
"By reducing and eliminating barriers to trade, a comprehensive FTA with the UAE and Oman will generate export opportunities for US companies, farmers and ranchers, help create jobs in the United States and help American consumers save money while offering them more choices," he observed.
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