Uk Oman Free Trade Agreement
The USITC argues that the economic impact of the agreement on the U.S. economy is expected to be small but positive, and that the impact on U.S. workers is likely to be minimal, as trade with Oman is small. American clothing workers are a potentially negative group. Clothing imports from Oman fell by 57% in 2005 in 2005, as the World Trade Organization (WTO) apparel and textiles agreement expired in January 2005 and ended the system of trade quotas between WTO partner countries. The USITC says tariff reductions and abolition under the U.S.-Oman Free Trade Agreement should restore some of the competitiveness of Oman`s apparel exports to the United States. Buyers – and believes that the resulting increase in imports at the expense of workers in other parts of the world would not be American workers.10 Laboratory critics point out that the Trade Act of 200227 requires U.S. negotiators to “seek provisions to achieve the main negotiating objectives of the United States with respect to both: (1) the possibility of resorting to dispute resolution; and (2) the availability of dispute resolution procedures and equivalent remedies. However, critics say the agreement does not. Moreover, they argue, the free trade agreement is a step backwards from the protection offers offered to Oman under the system of generalized preferences: however, the labour department of the Oman Free Trade Agreement also contains other provisions that are subject to consultation rather than effective enforcement of the rules: each country agrees not to weaken or reduce its labour laws to attract trade.
Each government reaffirms its obligations as a member of the International Labour Organization (ILO) to respect the ILO`s core labour standards and commits to “ensuring” that its laws provide for labour standards consistent with internationally recognized labour standards (defined in EsTV to reflect US trade law and slightly different from the ILO`s core labour standards). 16 Ministries of Labour agree, together with other relevant agencies, to set priorities and develop specific cooperation activities. (See the section below on “The Debate on Work” for a discussion on the most recent work issues. The U.S. Coast Guard, customs and border services play a key role in ensuring security at U.S. ports; and nothing in the agreement alters or diminishes the authority of these agencies. Oman offers market access for all services, including audiovisual, express delivery, telecommunications, IT, distribution and healthcare; and services in mining, construction, architecture and engineering. The agreement will strengthen Oman`s commitment to the WTO General Agreement on Trade in Services (GATS) 15 Schedules I and II of the agreement indicate exceptions to the coverage of the agreement that each country has reserved for itself in the case of services. With regard to the fight against terrorism with trade, the United States negotiated and the President signed the fifth bilateral free trade agreement (FTA) of the United States on 19 January 2006 in the proposal for 20 Free Trade Units in the Middle East (MEFTA). This free trade agreement is with Oman. Other U.S. free trade agreements include Israel, Jordan, Morocco and Bahrain.
A sixth is being negotiated with the United Arab Emirates. Oman is a small U.S. oil exporting trading partner that has supported U.S. policy in the Middle East and is strategically located at the mouth of the Persian Gulf. Given that its oil reserves could be depleted within 15-20 years, Oman is trying to liberalize and diversify its trade regime beyond oil and gas in order to provide economic opportunities for its rapidly growing workforce.