Manama welcomes US Congress approval of draft FTA with Bahrain
KUNA, Kuwait
Manama welcomes US Congress approval of draft FTA with Bahrain
11 December 2005
MANAMA, Dec 11 (KUNA) — The Bahraini cabinet on Sunday welcomed the US Congress’ endorsement of the Free Trade Agreement (FTA) with Bahrain.
Minister of State for Cabinet Affairs Sheikh Ahmad Bin Attiyatallah Al-Khalifa told reporters that the cabinet regarded the endorsement as a step paving the way for the agreement to become binding.
The minister stressed that the agreement would have a "positive impact towards strengthening economic and investment relations between the two states.
" He added that the cabinet had welcomed the resolutions adopted at the OIC Summit, which was held in Mecca last week specifically the ten-year plan paving the way for Islamic countries to face up to the challenges of the 21st century.
"The Bahraini Cabinet also welcomed the upcoming Iraqi general elections, due to take place next Thursday and urged all Iraqis to take part in them because they bring security and political stability to the country," Sheikh Ahmad said.
He stressed that the government had decided to exempt 13 Bahraini companies from paying customs on their incoming plant and equipment and noted that the exemption costed the country some Bahraini Dinars 2.5 million in lost revenue.
