Bahrain and United States reap Free Trade Agreements

Both the Kingdom and the US have reaped the benefits of FTA, which came to force on January 11, 2006. The purpose of the FTA is to increase trade, economic opportunity, and prosperity for both the United States and Bahrain.

Under the FTA, both governments removed tariffs and duties on nearly all traded consumer, agricultural, and industrial products, and liberalized the market for services. The FTA also supports bilateral investment, facilitating job creation in both countries. The US.-Bahrain FTA does not expire. Since its implementation, bilateral merchandise trade has increased by over 140 per cent, from $782 million in 2005, to $1.9 billion in 2017.

In 2016, the United States and Bahrain also traded $1.3 billion in services. The FTA and its companion agreement, the Bilateral Investment Treaty, have supported a growing number of corporate investments in our respective countries, resulting in the transfer of technologies and the creation of jobs and wealth in both economies. Over 200 US firms have established operations in Bahrain. Bahraini investments in the United States have similarly risen under the FTA, according to the US Embassy here.

The Economic Development Board Bahrain identifies financial services, professional services, manufacturing, ICT, logistics and transport sectors as particularly ripe for investment. The renewable energies and health care sectors, among others, also offer potential opportunity for US firms. On the other hand, the US welcomes Bahraini investment.

SelectUSA is the official US government office that provides information to investors about the benefits of a US location and hosts the annual SelectUSA Investment Summit, last held June 20-22, 2018 near Washington, DC.

The US Embassy collaborates on trade and investment with entities in Bahrain including the Ministry of Industry, Commerce and Tourism, the American Chamber of Commerce, the Bahrain Chamber of Commerce and Industry, and the Economic Development Board Bahrain.

The Embassy also collaborates with entities in the United States such as the US Department of Commerce, the Office of the US Trade Representative, the US Chamber of Commerce, and the US-Bahrain Business Council.