Australia is pursuing its first Free Trade Agreement (FTA) with a Middle Eastern nation as it looks to bed down an FTA with the United Arab Emirates (UAE). Trade ministers from both countries have released a joint statement outlining an intent to lock-in the FTA. Current two-way trade between Australia and the UAE is worth AU$6.8 billion (US$5 billion) and two-way investment at AU$16 billion (US$11.8 billion). “The UAE is Australia’s gateway to the Middle East and presents an opportunity for greater trade diversification,” Australian Trade Minister Dan Tehan said in a statement. “Australia has more than 300 key businesses operating in the UAE, including in building, construction, financial services, agricultural supplies, and training services and a Comprehensive Economic Partnership Agreement (CEPA) would create more opportunities for Australian businesses and workers.” Current Australian exports to the UAE include aluminium oxide, meat (beef, sheep, and lamb), vehicle parts and accessories, and …