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Currently the GCC countries are negotiating a free trade agreement (FTA) with the EU and the UAE continuing with its strengthening of its economic plans is negotiating an FTA with the United States.
According to the Minister of Economy H.E. Sultan Al Mansouri, the UAE GDP for 2007 is at 6.3% increasing by 7.4% from last year’s figures. It has been approximated that the non-oil sectors have contributed towards 64.1% of the total UAE GDP for 2007. It has been estimated that the UAE GDP will grow by 7.7% during 2008 which is lower than the 9.4% in 2006 and 8.2% in 2009. The UAE's current account balance has been in surplus owing to its large surplus in the merchandise trade balance...
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