Trade Agreements Uae

The United Arab Emirates is a party to several multilateral and bilateral trade agreements, including with GCC partner countries. Under the GCC, the United Arab Emirates enjoys close economic relations with Saudi Arabia, Kuwait, Bahrain and Oman, which means that the United Arab Emirates shares a common market and customs union with these nations. Under the Arab Free Trade Area (GAFTA) agreement, the United Arab Emirates has free access to Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, Jordan, Egypt, Iraq, Lebanon, Morocco, Morocco, Tunisia, Palestine, Syria, Libya and Yemen. The main sectors of this flourishing trade, which has provided the United Arab Emirates with the first place among GCC countries for export, are electronics, electrical equipment, precious metals and stones. It describes the bilateral and multilateral trade agreements to which that country belongs, including with the United States. Includes websites and other resources that allow U.S. companies to get more information about how they can use these agreements. In addition, the United Arab Emirates has signed free trade agreements with Singapore and New Zealand (through the CCG agreement) and New Zealand and has begun discussions for similar agreements with the European Union, Japan, Australia, South Korea, India, Brazil, China, Argentina, Pakistan, Paraguay, Turkey and Uruguay. It has also concluded several agreements on the protection and promotion of investment and the prevention of double taxation. During its relatively short lifespan, bilateral agreements on technical and administrative cooperation in the field of customs are one of the main thrusts of the ACF`s regional and international act. With respect to this issue, the ACF departs from the fact that it is the official federal customs authority that deals with customs issues, not to mention international obligations as an active member of the World Customs Organization, the World Trade Organization and the international community. Mutual technical and administrative cooperation agreements in the area of customs are among the main agreements highlighted by the World Customs Organization for several reasons and, in addition, the United Arab Emirates also signs the World Trade Organization (WTO) Information Technology Agreement (ITA), a treaty that binds 78 countries (97% of the world trade in computer products) to eliminate tariffs on computer products. The many products covered by the treaty are estimated at more than $1.300 billion per year.

The Government of Abu Dhabi has established the Advisory Committee on Free Trade Agreements, which aims to lift trade restrictions between the Emirate of Abu Dhabi and the countries with which the United Arab Emirates is negotiating a free trade agreement.