US-UAE economic relations extraordinary, strong: US Treasury Dept. Undersecretary

posted on 30/10/2007: 108 views

The United States and the United Arab Emirates maintain an already extraordinary and strong economic relationship and both countries are certainly committed to further integration in the future, stressed U.S. Treasury Undersecretary for International Affairs David McCormick.

Speaking to reporters at a press briefing yesterday at the US Embassy in the UAE capital city of Abu Dhabi, McCormick expressed hopes that the United States and the UAE would conclude a Free Trade Agreement (FTA). He declined to comments on the dollar pegging currency policy of the Gulf countries which was set as a topic of recent meeting of the Gulf Cooperation Council." Only the US Federal Reserve is authorized to comment or give statements on such issue, explained McCormick.

The senior US Treasury official arrived in Abu Dhabi City on Sunday starting a 2-day visit as part of a regional tour. He said his meetings today with UAE Central Bank Sultan Nasser Al Suwaidi and senior officials of Mubadala and Abu Dhabi Investment Authority (ADIA) were focused on further promoting a shared vision and understanding of strong bilateral relations between the two countries. (Emirates News Agency, WAM)

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