The U.S.–MEFTA initiative started in 2003 with the purpose of creating a U.S.–Middle East Free Trade Area by 2013.
The U.S. objective with this initiative has been to gradually increase trade and investment in the Middle East, and to assist the Middle East countries in implementing domestic reforms, instituting the rule of law, protecting private property rights (including intellectual property), and creating a foundation for openness, economic growth, and prosperity.
Among the stated objectives are:
Actively supporting WTO membership of countries in the Middle East and Maghreb Expanding the Generalized System of Preferences that currently provides duty-free entry to the U.S. market for some 3,500 products from 140 developing economies Negotiating Trade and Investment Framework Agreements that establish a framework for expanding trade and resolving outstanding disputes Negotiating bilateral investment treaties with interested countries by obligating governments to treat foreign investors fairly and offering legal protection equal to domestic investors Negotiating comprehensive free trade agreements with willing countries that demonstrate a commitment to economic openness and reform Helping to target more than $1 billion of annual U.S. funding and spur partnerships with private organizations and businesses that support trade and development
+ U.S.–Middle East Free Trade Efforts Country FTA TIFA BIT WTO GSP Israel Jordan Morocco Bahrain Egypt Lebanon NegotiatingAccession Algeria NegotiatingAccession Tunisia Saudi Arabia Not Eligible Oman Kuwait Not Eligible UAE Announced Not Eligible Yemen NegotiatingAccession Qatar Not Eligible Syria Not Eligible Iraq Observer Status Not Eligible Libya NegotiatingAccession Not Eligible Iran Not Eligible Note: The Palestinian Authority participates in the U.S.–Israel FTA.
Active agreements
US agreements The United States currently has several bilateral free trade agreements with nations in the region. Bahrain–United States Free Trade Agreement Jordan–United States Free Trade Agreement Morocco–United States Free Trade Agreement Oman–United States Free Trade Agreement Israel-United States Free Trade Agreement
Middle Eastern agreements Additionally many potential MEFTA states are already members of the multilateral Greater Arab Free Trade Area.
Other states are members of the multilateral Arab Maghreb Union.
The following, expected to constitute MEFTA,Staff, "Middle East Free Trade Area: Progress Report", Congressional Research Service, 1 June 2006 are not members of existing Middle Eastern agreements:
See also
Greater Middle East Middle East Partnership Initiative Lists of free trade agreements List of trade blocs Middle East economic integration
References
External links Official site White House Press Release – 9 June 2004 U.S. Briefing at Department of State – 6 May 2005 White House Press Release – 17 October 2005