The UAE has engaged in negotiations with several nations around the world to conclude free trade agreements to enhance the UAE’s position as trade hub and investment destination.

Click the link to view UAE’s trade agreements and negotiations https://www.moec.gov.ae/en/free-trade-agreements-detail?p_l_back_url=%2Fen%2Fsearch-results%3Fq%3Dfree%2520trade%2520agreements

Reduced tariffs

Increased volume of investments

Enhanced access opportunities for local products to global markets, as well as facilitating market access for SMEs

Protection of investors and service providers

Protection of intellectual property rights

The European Free Trade Association (EFTA) is a regional trade organisation comprising Iceland, Liechtenstein, Norway and Switzerland. It was established in 1960 to promote free trade and economic integration between its member countries.

The free trade agreement between the GCC countries and the EFTA countries, signed in 2009, covers various aspects such as trade in goods, services, government procurement, competition, intellectual property, administration and dispute resolution. The joint committee of the GCC states and the EFTA states oversees the implementation of the agreement.

Industrial goods, including fish and other marine products, benefit from duty free access to the respective markets of the EFTA States. For products imported into the GCC, most customs duties are eliminated. Certain products become duty free after a transitional period of 5 years, while some others remain excluded from tariff dismantling or excluded from the scope of application. The agreement also provides for tariff concessions on processed agricultural products.

The Trade in Services ensures that each party will treat services supplier no less favourably than his domestic supplier in similar circumstances. It aims to reduce restrictions on market access, as well.

Yes, an annex on e-Ecommerce has been included in the GCC-EFTA FTA which aims to strengthen the exchange of information, cooperation and partnership in this field and to follow the latest development of other countries in this sector.

The Parties agreed to adopt or maintain competition laws to avoid anti-competitive business practices that may restrict trade between them. The Parties also commit to cooperating on issues relating to competition law enforcement.

The free trade agreements between GCC and FTA includes a chapter concerning government procurement with precise rules and principles that will address and allow the participation of GCC companies in the government tenders in the EFTA States and vice versa.

The GCC-Singapore FTA (GSFTA) signed in 2008 is a milestone agreement in strengthening ties between the GCC countries and Singapore, particularly because it is the first Free Trade Agreement (FTA) signed by the GCC and the second FTA that Singapore signed with the Middle East.