In what could be a major development for both parties, the European Union (EU) and the United Arab Emirates (water) have agreed to launch free trade negotiations. Indeed, the two parties held a meeting today in which they concluded a pivotal agreement, according to a press release.
According to the press release, the president of the European Commission (EC), Ursula von der Leyen, spoke with the president of the water, Sheikh Mohamed Bin Zayed Al Nahyan on Thursday. In addition, this decision coincides with continuous negotiations of both parties for a strategic partnership agreement.
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Launches the EU and water free trade negotiations after a central meeting
It is undeniable that the global economy has been faced with an increase in opposite winds this year. The United States has decided to balance trade, adopting the Price Plan of President Donald Trump. This decision has seen various nations and economic blocks react, leading to a possible break of the plan.
However, this has not reduced the resolution potential of various countries looking for progress in commercial negotiations. Indeed, the European Union and the United Arab Emirates exhibited this Thursday, while the two parties agreed to launch free trade negotiations.
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Discussions on free trade will now see both parties seek to actively eliminate obstacles to economic transactions, including prices and quotas. In addition, the president of the EC, Von Der Leyen, “underlined the solid history of the European Union for the delivery of high -level trade agreements and creation partnerships according to the opening of trade and mutual benefits,” said the Commission.
The development comes as the block confirmed its interest in negotiating a new trade agreement with the United States. Although he agreed with a 25% reprisal rate in the United States, he interrupted the action in response to Trump’s decision yesterday. Now the two parties should re -engage in talks for a new trade agreement.
