UAE sets new trade restrictions
The United Arab Emirates has announced a new law authorising authorities to ban or restrict goods shipments for security or foreign policy reasons.
The import, export and re-export of any commodity can be banned or restricted for reasons related to safety, public health, environment, natural resources, national security or for reasons related to foreign policy, according to the legislation.
A commission will be created to oversee the new rules, with membership from federal ministries and representatives from the Federation of UAE Chambers of Commerce & Industry.
The UAE has been pressured by the Bush administration to crack down on companies believed to be smuggling equipment to Iran to build explosive devices, Associated Press said yesterday. Concerns had been expressed by the White House about shipments to Iranian companies operating in Dubai.
Dubai business executives spoke out against US pressure, AP said. Hamad Buamim, director general of the Dubai Chamber of Commerce and Industry, said in a letter to the Bush administration obtained by the news agency “The regulation of re-exports should be established by the UAE without the threat from the US. Only the UAE is able to judge the balance of concerns for re-export relative to national security against the risk of the trade moving to another re-export location.”
The US has proposed new restrictions on companies doing business in countries it says are ‘destinations of diversion concern,’ including shipping hubs with lax export laws. The Dubai chamber claims such a move would be ineffective and inappropriate. Source
The import, export and re-export of any commodity can be banned or restricted for reasons related to safety, public health, environment, natural resources, national security or for reasons related to foreign policy, according to the legislation.
A commission will be created to oversee the new rules, with membership from federal ministries and representatives from the Federation of UAE Chambers of Commerce & Industry.
The UAE has been pressured by the Bush administration to crack down on companies believed to be smuggling equipment to Iran to build explosive devices, Associated Press said yesterday. Concerns had been expressed by the White House about shipments to Iranian companies operating in Dubai.
Dubai business executives spoke out against US pressure, AP said. Hamad Buamim, director general of the Dubai Chamber of Commerce and Industry, said in a letter to the Bush administration obtained by the news agency “The regulation of re-exports should be established by the UAE without the threat from the US. Only the UAE is able to judge the balance of concerns for re-export relative to national security against the risk of the trade moving to another re-export location.”
The US has proposed new restrictions on companies doing business in countries it says are ‘destinations of diversion concern,’ including shipping hubs with lax export laws. The Dubai chamber claims such a move would be ineffective and inappropriate. Source
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