Bahrain-US free trade pact comes into force
Gulf Daily News, Bahrain
Bahrain-US free trade pact comes into force
1 August 2006
MANAMA: The Free Trade Agreement (FTA) between Bahrain and the US comes into force today.
A follow-up committee is currently preparing data and drawing up the necessary programmes for the optimal use of the agreement, Industry and Commerce Minister Dr Hassan Fakhro said yesterday.
"The implementation of the agreement will enable Bahrain to market its products and services without customs duties in the markets of the US," he told our sister paper Akhbar Al Khaleej.
"The FTA will definitely stimulate Bahrain’s economy.
"We will face no hurdles in dealing with the items of the agreement because we adopt an open door policy, based on the liberalisation of trade," said Dr Fakhro.
Bahrain Chamber of Commerce and Industry president Khalid Kanoo, who also is the chairman of the FTA implementation committee, expects the agreement to herald Bahrain as a regional hub for businesses from the Middle East and other countries.
It will also enhance the flow of the industrial services in Bahrain at an unprecedented level, he said.
Bapco chairman Shaikh Salman bin Khalifa Al Khalifa yesterday sent a cable of congratulations to His Majesty King Hamad marking the implementation of the FTA.
Similar cables were sent to Prime Minister Shaikh Khalifa bin Salman Al Khalifa and Crown Prince and BDF Commander-in-Chief Shaikh Salman bin Hamad Al Khalifa.
