The UAE and the US sign a Trade and Investment Framework Agreement

Following the singing of this framework agreement, which aims to foster an open and predictable environment for international trade and investment and economic cooperation between the two countries, a Joint Council has been created to serve as a forum for permanent dialogue between UAE and US officials with the aim of expanding trade and investment between the two countries.

Dr. Kharbash, who headed the UAE delegation to the US hailed the signing of the agreement as "a significant moment in the history of the relationship between the United States of America and the United Arab Emirates". He spoke of TIFA's significance during the signing ceremony on Monday. "We believe that the TIFA agreement creates a strong platform, on which we can consolidate our mutual trade and commercial activities," he added.

The Minister also spoke about how UAE's policies of openness and cooperation earned it its leading position today. " The UAE 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," he said.

"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 unite in our country amid a tolerant society with a wide diversity of cultures, ethnicity and religious backgrounds" he added.

Dr. Kharbash expressed his belief that the signing of the TIFA represents a catalyst for more mutual business and leads to the ultimate goal of a Free Trade Agreement between the UAE and USA.