The US Bahrain Free Trade Agreement (FTA) Text: An Overview
The United States of America and the Kingdom of Bahrain signed a Free Trade Agreement in 2004, which entered into force on August 1, 2006. The FTA between the two countries is aimed at promoting free trade and investment, increasing economic growth, creating jobs, and strengthening bilateral relations between the US and Bahrain.
The text of the US Bahrain Free Trade Agreement covers a wide range of topics related to trade and investment. These include:
1. Tariffs on trade in goods: The FTA eliminates tariffs on a broad range of goods traded between the two countries. These include products such as machinery, electrical equipment, vehicles, chemicals, and agricultural products.
2. Rules of origin: The FTA establishes rules of origin that determine which goods are eligible for duty-free treatment. In order to qualify for duty-free treatment, goods must meet certain criteria, such as being produced in the US or Bahrain using materials that originate in those countries or other FTA partner countries.
3. Intellectual property: The FTA includes provisions aimed at protecting intellectual property rights, such as trademarks, copyrights, and patents. The agreement also provides for cooperation between the US and Bahrain in the enforcement of these rights.
4. Investment: The FTA provides for the protection of investors and their investments. This includes provisions that prohibit the expropriation of investments without compensation, and that guarantee investors the right to transfer funds related to their investments.
5. Services: The FTA provides for the liberalization of trade in services between the US and Bahrain. This includes the elimination of barriers to trade in services such as telecommunications, financial services, and professional services.
6. Government procurement: The FTA establishes rules for government procurement, which aim to enhance transparency and fairness in government procurement processes.
7. Labor and environmental standards: The FTA includes provisions aimed at promoting labor and environmental standards. These include commitments to enforce domestic labor and environmental laws, and to prohibit the trade of goods produced through forced or child labor.
Overall, the US Bahrain Free Trade Agreement is intended to promote free trade and investment between the two countries. The agreement covers a wide range of topics related to trade and investment, and includes provisions aimed at promoting labor and environmental standards, protecting intellectual property rights, and promoting government procurement transparency. The text of the agreement can be found on the Office of the United States Trade Representative website.