Trade and Investment Cooperation Agreement (TICA) between US and UAE

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The United States is exploring the possibilities of a Trade and Investment Cooperation Agreement (TICA) with the GCC nations including the UAE.

Michael C. Camunez, US Assistant Secretary of Commerce for Market Access and Compliance, said that keeping in mind the interests of US corporate in the region, the free trade agreement is considered very important for deepening the bilateral engagement with the UAE. He also said that UAE is a robust and growing market.

The main mission of Camunez is to build strategic partnership and relationship with the UAE. US working model in pursuit of its domestic goals and to create a world class infrastructure and to promote a knowledge based innovative economy and to collaborate on important issues such as developing international standards, protection of intellectual property rights, and other policy issues to promote trade and investment in both of our countries.

Camunez is confident of more US companies coming to UAE. According to him, the Middle East is a diverse place with very important and stable market. There are ample business opportunities that will contribute to both US and UAE economies.

The United States is interested in seeking SWFs investments in infrastructure related projects in the region and encouraging them to invest into the US economy.

Source:Khaleej times

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