Another Reason for Port Deal: Bush Pushes Mid-East Free Trade Zone

[JCMach1]

THIS PLAN WILL ABSOLUTELY NOT GO FORWARD WITHOUT UAE BACKING. IT WOULD BASICALLY MOVE THE GCC OUT OF THE PICTURE AND PUT THE U.S. FIRMLY AT THE CENTER OF MID-EAST TRADE...



US to go ahead with free trade zone plan in Middle East

By Mariam Al Hakeem, Correspondent


Riyadh: US Secretary of Commerce Carlos M. Gutierrez reiterated Washington's determination to go ahead with its ambitious plan to set up a free trade zone in the Middle East by 2013.

"The free trade zone would bolster economic ties with the countries in the region, especially the GCC states, besides playing a vital role in restoring peace and stability in the region," he told a press conference in Riyadh on Sunday at the end of his Saudi visit.

Gutierrez emphasised again that political differences on regional issues would not hamper business relations between the US and its allies in the Middle East, including Saudi Arabia.

"The United States has so far not set any dates to start negotiations with Saudi Arabia regarding the establishment of a free trade zone. Our priority in expanding trade and commercial cooperation with Saudi Arabia, at least for the time being, will be to support the latter in tackling the situation after its accession to the World Trade Organisation," he said.

The US commerce secretary said that Washington cannot start negotiations on a free trade agreement with the Middle East without the participation of Saudi Arabia.

"We are optimistic of beginning negotiations with Saudi officials in this regard in the near future," he said... http://gulfnews.com/business/Commerce/10021970.html