Bahrain–United States Free Trade Agreement

In today's article we are going to delve into the fascinating world of Bahrain–United States Free Trade Agreement. We will examine its origins, its relevance today and its impact on different aspects of our society. Bahrain–United States Free Trade Agreement has been the subject of study and debate for years, and in this article we will try to shed new light on this exciting topic. From its beginnings to its evolution today, we will explore all facets of Bahrain–United States Free Trade Agreement and how it has influenced the way we think, live and relate to the world around us. Get ready to embark on this exciting adventure of discovery and knowledge!

Agreement between the United States of America and the Kingdom of Bahrain on the Establishment of a Free Trade Area
  • United States–Bahrain Free Trade Agreement (USBFTA) (American English)
  • اتفاقية التجارة الحرة بين الولايات المتحدة الأمريكية ومملكة البحرين (Arabic)
TypeFree trade agreement
DraftedSeptember 14, 2004
SignedSeptember 14, 2004
LocationWashington, D.C., United States
EffectiveAugust 1, 2006
Condition2 months after notification of each state that all internal procedures have been completed
Ratifiers
Languages
United States-Bahrain Free Trade Agreement Implementation Act
Great Seal of the United States
Long titleTo implement the United States-Bahrain Free Trade Agreement.
Enacted bythe 109th United States Congress
Citations
Public lawPub. L. 109–169 (text) (PDF)
Legislative history
  • Introduced in the House of Representatives as H.R. 4340 by Roy Blunt (R-MO) on November 16, 2005
  • Committee consideration by House Ways and Means
  • Passed the House of Representatives on December 7, 2005 (327-95)
  • Passed the Senate on December 13, 2005 (Unanimous Consent)
  • Signed into law by President George W. Bush on January 11, 2006

The United States–Bahrain Free Trade Agreement (USBFTA) is a free trade agreement (FTA) between the United States and Bahrain, signed on September 14, 2004. It was ratified by the United States House of Representatives on December 7, 2005, by 327–95, with 10 not voting.[1]

The United States Senate approved the bill on December 13, 2005, by voice vote. President George W. Bush signed the USBFTA Implementation Act into law (Pub. L. 109–169 (text) (PDF)) on January 11, 2006.[2][3] The FTA was implemented on August 1, 2006, and will reduce certain barriers of trade between the two countries.[4]

Early stages of the Bahrain–U.S. free trade negotiations go back to the year 1999, with the signing of a Bilateral Investment Treaty (BIT), which entered into force May 31, 2001. It is the first such treaty signed between the United States and a member of the GCC, and is aimed at stimulating the flow of private investment between the two countries. Both parties agreed that a stable framework for investment would maximize effective utilization of economic resources and improve living standards. One year later, a Trade and Investment Framework Agreement (TIFA) was signed on June 18, 2002, representing the prelude for the FTA negotiations. The TIFA was designed as a forum for an ongoing bilateral dialogue on economic reform and trade liberalization.

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References

  1. ^ Becker, Elizabeth (May 28, 2004). "U.S. and Bahrain Reach A Free Trade Agreement". New York Times.
  2. ^ "Bahrain Pact Signed by Bush". New York Times. Reuters. January 12, 2006.
  3. ^ "Statement on H.R. 4340, "U.S.-Bahrain Free Trade Agreement Implementation Act" (January 11, 2006)". The White House of President George W. Bush. Retrieved July 22, 2014.
  4. ^ "Statement of USTR Susan C. Schwab Regarding Entry Into Force of the U.S. -Bahrain Free Trade Agreement (July 2006)". Office of the United States Trade Representative. Archived from the original on August 3, 2014. Retrieved July 22, 2014.