Bahrain Free Trade Agreement Countries

Bahrain is the first member of the Gulf Cooperation Council (GCC) and a third Arab country to have a free trade agreement with the United States. In 2019, imports amounted to USD 836 million and exports from this agreement to USD 792 million. Industrial products, including fish and other seafood, have duty-free access to EFTA states, while most products imported into the GCC are removed. In 2019, imports from the agreement to Bahrain amounted to $349 million, while exports totaled $19 million. In addition, bilateral agreements on agricultural products have been concluded between three EFTA states and the GCC. Duty-free access to the U.S. market will increase the competitiveness of Bahraini goods and services. Easier access to U.S. markets should also expand Bahrain`s services sector through the provision of cross-border services or the creation of these services in the United States.

The free trade agreement will remove barriers to cross-border investment. If foreigners invest in participating countries, they benefit from citizenship benefits. Free trade agreements (FTAs) are international agreements that encourage trade in imports and exports between countries. In general, free trade agreements remove barriers between countries, so that participants can comply with agreed laws and be treated as foreign citizens in trade transactions. Removes all trade barriers for services and at the same time opens up the U.S. market to Bahraini service providers. This allows Bahrain services to continue to grow, as providers can organise services through a local presence or across borders. Bahrain is the first member of the Gulf Cooperation Council and a third Arab country to have a free trade agreement with the United States. The free trade agreement between the Kingdom of Bahrain and the United States is an international agreement to promote enhanced trade between the two countries. Goods exempt from tariffs under the FREI trade agreement and re-exported to other GCC countries are subject to final destination tariffs. 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 GCC-Singapore Federal Trade Agreement (GSFTA) allows CCG to access the Singapore market duty-free. These include trade in goods, customs procedures, rules of origin, trade in services and public procurement. In 2019, Bahrain`s exports to Singapore totaled more than $79 million and imports $113 million. The second JC meeting took place on 21 October 2009. During the meeting, officials discussed a wide range of trade issues. In particular, they examined the considerable efforts made by the two governments in 2009 to ensure the effective implementation of the main customs aspects of the free trade agreement, including through targeted technical assistance to Bahrain`s customs authorities, as well as trade initiatives in this agreement, which contains specific rules of origin for both imports and exports.