Tuesday, April 19, 2005

FTA Round-Table - Al Tamimi Law Update

On 23 February 2005, Al Tamimi & Company hosted an exclusive Round Table Discussion on the Free Trade Agreement expected to be negotiated between the United Arab Emirates and the United States of America.
General comments in favor (my selection)

1. "It provides more labour rights for the workers such as minimum wages and labour unions." Not sure why this is part of a trade agreement. With French maybe, but why would the U.S. incorporate these as conditions? Domestic politics?

2. "It aims at fighting terrorism and promoting democracy."

3. "It will encourage competitiveness in producing goods." Yes.

4. "It will eliminate the problem of the agency agreements within the UAE." Would like to know what that means. Would like to know.

General comments in opposition (my selection)

1. "It will negatively effect the local products which would not be able to compete." Were consumers represented?

2. "The greater labour rights would entail higher overheads."

3. "The labour unions have a problematic side since it will lead to strikes." If that happens it will be interesting to watch. Strikes by guest workers?

4. "The interests of establishing Free Zone companies would decline, which negatively affect the Free Zone's businesses." Free Zones are legalized smuggling for a select few. Free trade opens smuggling to all.

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