Uae Free Trade Agreements List

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The United Arab Emirates (UAE) has become a major player in the global trade market in recent years. One of the key factors that have contributed to the country`s success is its free trade agreements (FTAs) with numerous countries across the globe. These agreements have helped to promote foreign investment, fuel the economy, and create jobs for UAE citizens.

The UAE is a member of the Gulf Cooperation Council (GCC), a regional economic bloc comprising six member states: Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE. The GCC has strategic partnerships with several countries, including the United States, China, and the European Union. As a result, the UAE has been able to negotiate trade agreements with these countries, giving it access to their markets and allowing for the free movement of goods and services.

The UAE has signed several FTAs with countries in Africa, Asia, Europe, and the Americas. These agreements have been instrumental in facilitating trade between the UAE and these countries and have resulted in significant growth in trade volumes. Some of the key FTAs signed by the UAE include:

1. United States-UAE Free Trade Agreement: This agreement was signed in 2004 and has been in force since 2005. It aims to eliminate tariffs on goods and services traded between the two countries and promote investment. The UAE is now the largest export market for US goods and services in the Middle East and North Africa region.

2. European Free Trade Association (EFTA)-UAE Free Trade Agreement: This agreement was signed in 2018 and is the first FTA signed by EFTA with an Arab country. It aims to boost trade and investment between the UAE and EFTA member states – Iceland, Liechtenstein, Norway, and Switzerland.

3. Gulf Cooperation Council (GCC)-Australia Free Trade Agreement: This agreement was signed in 2019 and is the first FTA signed by the GCC with a developed country outside the region. It aims to enhance trade and investment flows between the GCC states and Australia.

4. GCC-Singapore Free Trade Agreement: This agreement was signed in 2008 and aims to increase trade and investment flows between the GCC and Singapore. It has helped to boost Singapore`s investment in the UAE and increased the UAE`s exports to Singapore.

5. GCC-India Free Trade Agreement: This agreement was signed in 2004 and aims to increase trade between the GCC and India and promote investment. The UAE is India`s largest trading partner in the GCC, and the FTA has helped to further strengthen ties between the two countries.

In conclusion, the UAE`s FTAs with numerous countries across the world have been instrumental in boosting the country`s economy, facilitating trade and investment, and creating jobs for UAE citizens. The country`s strategic location, coupled with its progressive trade policies, has made it an attractive destination for businesses looking to expand their operations in the region. It will be interesting to see how the UAE`s future trade agreements will further shape its position in the global trade market.