UAE shifts focus away from EU FTA to new markets in the East

The UAE Government said it now deals with EU countries with regard to the free trade agreement as a secondary issue after the European Union's obstacles and conditions block the signing of such an agreement with GCC member states.

Minister of Economy Sultan bin Saeed Al Mansouri was speaking yesterday to the press on the sidelines of the "Certificate of Origin Form (A) and Post-Verification Impact on National Exports" forum, organised in cooperation with the European Commission.

Mansouri said EU countries have lost a great deal because of the delay in the signing of the agreement over the last 18 years both at trade and economic levels. European economies could have benefitted from several relative privileges enjoyed by GCC member states, he said.