UAE and US officials recently discussed issues related to the rules of origin on their respective goods and products, as part of ongoing Free Trade Agreement (FTA) negotiations between the two countries.
The meeting is aimed at reaching an agreement regarding the rules of origin on goods and products to qualify for preferential treatment under the future FTA between the US and the UAE, said Mr. Saeed Abdullah Al Rukun, Deputy Director of the Department of Industrial Development (DID) at the Ministry of Finance and Industry (MOFI).
He added that during the meeting headed by Saeed Khalifa Saeed Al Mirri , Deputy Director General at the Federal Customs Authority, the officials reviewed similar agreements the US has with other countries, namely Bahrain and Australia, to draw on their experiences. The operation of rules of origin followed under UAE-Gulf and UAE-Arab trade agreements was also looked at.
Al Rukn explained that the rules of origin committee that was formed as part of the FTA negotiating team aims at reaching an agreement that guarantees a healthy competition for UAE goods and products in the vast US market.
He stressed the importance of supporting the UAE industrial sector and ensuring that an FTA with the US will benefit national industries- a very crucial element in the country’s economic diversification policy.
