Manama, Washington sign a free trade agreement
Bahrain-USA, Economics, 9/15/2004

Bahrain and the USA on Tuesday signed an agreement for the establishment of a free trade agreement between the two countries.

The American trade representation office in Washington said that this agreement which needs to be ratified by the Congress before its implementation ensures the flow of consumer and industrial garments as well as 81% of agricultural products between the two countries without customs fees.

The American trade representative Robert Zoellick said that the agreement will improve trade relations with one of the main economic forces in the Gulf region and paves the way before the improvement of trade relations and increasing openness with other countries in the region.

The agreement was signed by Bahrain's minister of finance and the economy Abdullah Bin Hassan Seif, and the American trade representative Robert Zoellick. Thereby, Bahrain will be the first gulf state to finalize such an agreement and the third Arab state following Jordan and Morocco.

Washington signed framework Agreement for Trade and Investment TIFA with several Arab states aiming at preparing to join rounds of negotiations before signing the free trade agreements.

The USA signed a TIFA agreement with Bahrain in June 2002 and then with each of Kuwait, Qatar, Saudi Arabia, the United Arab Emirates, Yemen, Egypt, Algeria, Tunisia and Oman. Worthy mentioning that the total trade exchange between the two countries reached USD 900 million in 2003.

Previous Stories:
  60% of the Bahraini boycott the American products   (8/2/2004)
  Washington wants free trade agreement with Bahrain   (5/22/2003)
  US investments in Bahrain   (10/20/1999)
  Bahrain, US sign treaty   (10/1/1999)

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