UAE, US sign Trade and Investment Framework Agreement
UAE Minister of State for Finance and Industry Dr. Mohammed Khalfan Bin Kharbash and US Trade Representative Robert B. Zoellick signed Tuesday a Trade and Investment Framework Agreement (TIFA) in Washington D.C..
Following the singing of this agreement a Joint Council has been created to serve as a forum for permanent dialogue between UAE and US officials with the goal of expanding trade and investment between the two sides. Dr. Kharbash, who led the UAE delegation, described the move as a mile stone in the US-UAE relationship
"I believe that the TIFA agreement creates a strong platform, on which we can consolidate our mutual trade and commercial activities," he added, according to The Khaleej Times.
Dr. Kharbash said his country has long upheld the concept of a liberal economy and an open and free trading environment. And "we have witnessed positive robust economic growth for over a decade. There are now hundreds of international firms operating from our shores.
"We are witnessing a rapid increase in our population as more international professionals choose to make the UAE their place of work. In fact, almost 200 different nationalities live and work in our country amid a tolerant society with a wide diversity of cultures, ethnicity and religious backgrounds," he noted. (Menareport.com)
© 2004 Mena Report (www.menareport.com)