Hotline invites views on US-Bahrein FTA
Gulf Daily News, Vol XXVII, NO. 135
Manama (Bahrain), Monday 2 August 2004
By ABDULRAHMAN FAKHRI
PEOPLE can now have their say on Bahrain’s Free Trade Agreement (FTA) with the US.
A new hotline has been set up to handle comments from individual callers, while a website is also available for people to offer input.
Information related to Bahraini-US trade relations and sectors covered by the agreement is also listed on the website, as well as a section for any questions related to the FTA.
"Individuals and companies are free to comment on all of the agreement’s provisions," said Finance and National Economy Ministry economic planning director Yusif Abdulla Humoud.
Meanwhile, a public hearing will be launched by the US International Trade Commission (ITC) on August 10 into the implications of the agreement.
The investigation, called US Free Trade Agreement with Bahrain: Potential Economywide and Selected Sectoral Effects, was requested by the US Trade Representative’s office in a letter to the commission on June 28.
Following the hearing, the ITC will present a report featuring an assessment of the agreement on the US economy as a whole and on specific industry sectors - including the impact the agreement will have on the gross domestic product, exports, imports and other sectors.
Bahrain and the US signed the FTA on May 27 after four months of negotiations. The deal was announced in Washington by Finance and National Economy Minister Abdulla Saif and US Trade Representative Robert Zoellick.
Some of the highlights of the agreement include liberalisation of trade in goods, textiles and apparel; liberalisation of trade in services and cross-border services; liberalisation of the telecommunications market, development of e-commerce and enhanced intellectual property rights protection, among others.
The US is Bahrain’s largest trading partner in terms of exports, and the fourth largest in terms of imports, while Bahrain is the 78th largest trading partner of the US.
In 2003, the value of non-oil trade in merchandise reached around BD163 million, according to the ministry’s website.
The major imports from the US are aircraft, machinery, vehicles, mineral fuels, medical equipment, pharmaceutical products, toys, sports equipment, frozen poultry, garments and apparel items, electronic products, construction equipment, tobacco, beverages, cosmetics, perfumes and miscellaneous food items.
Major exports to the US include aluminium, fertilisers, mineral fuels, organic chemicals, plastics, fish, articles of apparel and clothing accessories.
To have your say visit the website at www.fta.gov.bh. Alternatively, call the hotline on 17575833 or fax your comments to 17530936.
