Implementation a Catalyst for Economic Growth

Washington, DC – The U.S.-Middle East Free Trade Coalition today commended both the U.S. and Bahraini governments for working diligently to achieve an August 1, 2006 implementation date for the U.S.-Bahrain Free Trade Agreement (FTA) to enter into force. President Bush signed the FTA into law January 11, 2006, following commendable, bipartisan Congressional votes on the agreement.

“The opening of trade with Bahrain is important to the expansion of U.S. business, products and services into new markets in the Middle East. The FTA is a high quality agreement that will benefit both countries and further strengthen ties with an important ally in the region,” said Bill Reinsch, president of the National Foreign Trade Council.

Beginning next week, under the terms of the agreement, all American consumer and industrial product exports to Bahrain will enter duty-free. Similarly, 98% of U.S. agricultural tariff lines will be eliminated with the remaining 2% phased out over 10 years.

“We commend our government and the Bahrainis for committing to a trade agreement with such high standards and for working quickly to see its provisions put into practice,” said Peter Tichansky, President of the Business Council for International Understanding. “The agreement’s entry into force is vital to the President’s initiative to establish a Middle East Free Trade Area by 2013.”

In addition to the Bahrain FTA, in the Middle East, Free Trade Agreements already exist between the United States and Israel, Jordan and Morocco. The U.S.-Oman FTA recently passed the U.S. House of Representatives and The United States Trade Representative is currently negotiating an agreement with the United Arab Emirates.

The U.S.-Middle East Free Trade Coalition, managed jointly by the National Foreign Trade Council (NFTC) and the Business Council for International Understanding (BCIU), is made up of over 120 U.S. companies and associations supporting trade expansion and economic development in the Middle East.

Advancing Global Commerce for Over 90 Years

The National Foreign Trade Council (www.nftc.org) is a leading business organization advocating an open, rules-based global trading system. Founded in 1914 by a broad-based group of American companies, the NFTC now serves hundreds of member companies through its offices in Washington and New York.

The Business Council for International Understanding (BCIU), a U.S. business association founded in 1955 at White House initiative, is dedicated to promoting dialogue and action between the business and government communities for the purpose of expanding international commerce.