Bush`s mefta project was clearly motivated by the geopolitical and security interests of the United States and not just by economic objectives. The MEFTA project is in direct contradiction with the EU`s plans for free trade agreements with the Mediterranean Region (EMTA) and the Gulf countries. The United States currently has several bilateral free trade agreements with nations in the region. The United Arab Emirates also signs the World Trade Organization(WTO) Information Technology Agreement (ITA), a treaty that binds 78 countries (which account for 97% of world trade in computer products), which aims to eliminate tariffs on computer products. The many products covered by the treaty are estimated at more than $1.300 billion per year. The Government of Abu Dhabi has established the Advisory Committee on Free Trade Agreements, which aims to lift trade restrictions between the Emirate of Abu Dhabi and the countries with which the United Arab Emirates is negotiating a free trade agreement. The first step is for the United States to work closely with peaceful nations wishing to become members of the World Trade Organization (WTO) to facilitate its membership in the World Trade Organization (WTO). As these countries implement internal reform plans, implement the rule of law, protect property rights (including intellectual property) and create a basis for openness and economic growth, the United States will adopt specific strategies to improve its trade and investment relations, with each strategy tailored to their country`s level of development. A notable exception to this rule is the production of food. While most foodstuffs are not convenient for importing from the United States, where they are relatively cheap, the removal of trade barriers between Arab states can lead to lower prices for regionally grown foodstuffs and protests among farmers. [Citation required] The United States signed a framework trade and investment agreement with the United Arab Emirates in 2004 to create a formal framework for dialogue on economic reforms and trade liberalization.
TIFA encourages the creation of legal protection for investors, improved protection of intellectual property rights, more transparent and effective customs procedures, and greater transparency of government and trade rules. Through this process, the U.S. government can identify potential partners for continued trade cooperation, such as free trade agreements (FAs). In 2012, the United Arab Emirates, as members of the Gulf Cooperation Council (GCC), became parties to the framework agreement between the United States and the GCC on trade, economy, investment and technical cooperation. In 2014, the United Arab Emirates ratified the agreement by Federal Decree 86. Since 2012, the United States and the United Arab Emirates have organized several iterations of the economic policy dialogue between the United States and the United Arab Emirates, which provides a platform to cooperate on economic issues and irritate bilateral trade relations. The United Arab Emirates is a party to several multilateral and bilateral trade agreements, including with GCC partner countries.