Us Bahrain Free Trade Agreement Text

The Bahrain Free Trade Agreement (BHFTA) came into force on 1 August 2006. Under the agreement, most Bahraini products arrive in the United States duty-free and Processing Fee (MPF) and virtually all are imported free of charge to the United States until January 1, 2015. The U.S.-Bahrain Free Trade Agreement (USBFTA) is a free trade agreement between the United States and Bahrain on September 14, 2004. December 2005 ratified by the U.S. House of Representatives with 327:95. [1] The Ministry of Commerce`s market access and compliance offices will monitor this agreement to ensure that Bahrain fully meets its trade commitments. If you are having problems with the U.S.-Bahrain Free Trade Agreement, please contact our Compliance Office for the agreements. The U.S.-Bahrain Free Trade Agreement, which came into force on January 11, 2006, creates export opportunities for the United States and creates jobs for U.S. farmers and workers. The agreement also supports Bahrain`s economic and political reforms and strengthens trade relations with an economic leader in the Arab Gulf. On the first day of the agreement`s entry into force, 100% of the two-way trade in industrial goods and consumer goods began to flow duty-free.

As a result of the free trade agreement, U.S. farmers have significantly increased their agricultural exports to Bahrain. In addition, Bahrain has opened its services market more widely than any former FTA partner and has created significant new opportunities for U.S. financial service providers and companies providing telecommunications, audiovisual, express, distribution, healthcare, architecture and engineering services. The second JC meeting took place on 21 October 2009. During the meeting, officials discussed a wide range of trade issues. In particular, they discussed the considerable efforts made by the two governments in 2009 to ensure the effective implementation of key customs aspects of the free trade agreement, including through targeted technical assistance to Bahrain customs authorities, and trade initiatives by the United States and Bahrain signed a Framework Agreement on Trade and Investment (TIFA) on 18 June 2003 , and on August 4, 2003, the U.S. Trade Agent contacted Congress that the President intends to launch a Free Trade Agreement (FTA). Bahrain. Negotiations began in January 2004 and were reached by agreement on 27 May 2004. On June 15, 2004, the President of the United States announced to Congress his intention to participate in the free trade agreement between the United States and Bahrain.

On June 18, 2004, draft agreements were made public. On June 18, 2004, the USTR published the draft free trade agreement between the United States and Bahrain. The U.S. Senate approved the legislation by vote on December 13, 2005. On January 11, 2006, President George W. Bush signed the USBFTA Implementation Act (Pub.L. 109-169 (text) (pdf)). [2] [3] The free trade agreement was implemented on 1 August 2006 and will remove some barriers to trade between the two countries. [4] On 9 May 2003, the United States outlined a strategy for the creation of a free trade area between the United States and the Middle East, which is expected to be in place within a decade. One step in this direction has been the negotiation of bilateral investment agreements (ILOs) and framework agreements on trade and investment (TIFA) with Countries in the Middle East. The first phases of free trade negotiations between Bahrain and the United States date back to 1999, with the signing of a bilateral investment agreement (ILO) that came into force on 31 May 2001. This is the first treaty of its kind signed between the United States and a gcc member and aims to stimulate the flow of private investment between the two countries.

Both sides agreed that a stable investment framework would maximize the efficient use of economic resources and improve living standards. A year later, a Framework Agreement on Trade and Investment (TIFA) was signed on 18 June 2002, a prelude to the free trade negotiations.