Blogs > HNN > AMERICANS MAY NOT OWN A SUPERMARKET IN UAE

Mar 23, 2006 5:49 pm


AMERICANS MAY NOT OWN A SUPERMARKET IN UAE



On the same Financial Times page which carries a story entitled"DP Woeld chief tells of 'shock'" also carries another entitled "Ports fracas fails to halt UAE trade accord efforts." It reports:

US businesses look to a trade deal to liberalise the UAE’s investment laws. Although foreign companies can set up in one of the country’s free zones, they want access to the retail market, they must enter joint ventures in which Emirati partners have a 51 per cent share, or hire agents who once contracted, are virtually impossible to change.

In other words, an American businessmen cannot own a shoe store in the country that wants to run American port services.

Oh, yes, as could have been predicted, this American great anti-terrorist ally assured Hamas it will not cuts its funds to a Hamas run PA. But, hey, Dubai would like to be the Switzerland of the Gulf and Switzerland considers Hamas a partner.




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