11 United States Bahrain Free Trade Agreement | Kays Pet Care
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United States Bahrain Free Trade Agreement

Posted on 14 Apr 2021 by Kay

The agreement provides for severe penalties for piracy and counterfeiting, requiring each government to criminalize the piracy of end-users. In addition, each government is committed to having and maintaining the power to confiscate, defile and destroy counterfeit and illegal goods and equipment used to manufacture them. In addition, intellectual property laws are enforced against goods in transit to prevent violators from using U.S. ports or free trade zones to trade in pirated goods. Finally, the agreement imposes both legal and real damages under Bahraini law for intellectual property violations, which will continue to discourage piracy. 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 (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. The CCG-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 U.S.-Bahrain Free Trade Agreement, which came into force on January 11, 2006, creates export opportunities for the United States and creates jobs for U.S. farmers and workers. The agreement also supports Bahrain`s economic and political reforms and strengthens trade relations with an economic leader in the Arab Gulf. On the first day of the agreement`s entry into force, 100% of the two-way trade in industrial goods and consumer goods began to flow duty-free. As a result of the free trade agreement, U.S. farmers have significantly increased their agricultural exports to Bahrain. In addition, Bahrain has opened its services market more widely than any former FTA partner and has created significant new opportunities for the United States.

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