Dubai is the main regional export centre and has become the third largest export centre in the world after Hong Kong and Singapore. 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. The United States began negotiating a free trade agreement with the United Arab Emirates in March 2005. In early 2007, the United States and the United Arab Emirates announced that they could not conclude free trade negotiations within the timeframes for the trade promotion authority, but that both sides would continue to work towards the subsequent conclusion of free trade negotiations. There have been no further negotiations for a free trade agreement. 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. The United Arab Emirates also signs the World Trade Organization(WTO) Information Technology Agreement (ITA), a treaty that binds 78 countries (which account for 97% of world trade in computer products), which aims 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.
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. 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 Agreement on the Large Arab Free Trade Area (GAFTA), 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. to transform. , that is, “Towards a safe society… Fair Trade” in the reality on the ground, protecting local society from the negative economic, social and health effects of counterfeit and dual goods, monitoring transfers of dual-use materials, preserving intellectual property rights and rules of origin, and, in the meantime, facilitating the movement of trade between the United Arab Emirates and its trading partners around the world. International bilateral agreements should also achieve both sides of the goal of equal rights, namely `safe society and fair trade` through a range of fundamental axes contained in the agreements, including strengthening international cooperation in the area of customs, combating breaches detrimental to the Security, Economy and Security of the Community , improving customs awareness and culture through the exchange of knowledge and information. , the establishment of joint training courses, the adoption of legislation and regulations facilitating the transit and flow of goods, and the role of customs (authority) as economic partners and not as tax authorities.