Bush administration continues push for free trade with U.A.E.

Bush administration continues push for free trade with U.A.E.    The Bush administration concluded a second round of negotiations this week with the United Arab Emirates to develop a free trade agreement.
   “We had a very, very productive second round of negotiations,” said Assistant U.S. Trade Representative Catherine Novelli in a teleconference Thursday.
   Novelli said at least two more rounds of negotiations will be held to conclude the free trade agreement language. The next meeting will occur in late June or early July by videoconference between the two countries.
   Bush notified Congress in November 2004 of his administration’s intent to negotiate a free trade agreement with the U.A.E. According to the administration, two-way trade between the countries reached $5.2 billion in 2004.
   The administration said two U.S. objectives in the free trade negotiations are to remove U.A.E. restrictions on foreign investment and expand U.A.E. distribution rights for U.S. exporters.