Bahrain’s parliament yesterday rejected a decision by the government to lift a ban on Israeli goods as part of a trade deal with the United States.
Australia’s support of the US in Iraq could help local companies crack the huge US government contract market, an American consultant on the US-Australia FTA says.
Oman came to the closing stages of its Free Trade Agreement (FTA) negotiations with the US on October 3, after talks on the final details closed successfully. Omani and US officials say the final signing should now take place early in 2006.
Business giants in the US are backing the Free Trade Agreement with Bahrain as it comes under scrutiny in hearings at the Senate and House of Representatives in Washington.
Reports have circulated that Kuwait will lift its embargo on Israel, but they remain unconfirmed. The Kuwaiti daily Al Qabas noted that Kuwait had not yet signed a free-trade agreement with the United States. Such an agreement would not permit a trade embargo on Israel.
Taiwan President Chen Shui-bian made a pitch for the signing of a free trade agreement with Honduras during a state banquet host by him for visiting Honduras President Ricardo Maduro yesterday.
The decision to lift boycott of Israel in line with the US FTA does not entail any economic, cultural, political, diplomatic or any other form of normalisation, Bahrain’s Foreign Minister said.
Nineteen societies and non-governmental organisations (NGOs) have rapped moves to normalise relations with Israel and called for joint national and regional efforts to abort the US-initiated Broader Middle East project.
US Democrats pressed Bahrain on Thursday to change its labor laws before an expected vote in Congress this year on a bilateral free trade pact with the tiny kingdom known as the Gulf’s banking hub.
"We have been repeatedly told by officials that the free trade agreement [FTA] signed with the US did not include an article on allowing Israeli goods into Bahrain, but we see that the situation has changed now," Al Mouawda said.
Bahraini Foreign Minister Sheikh Mohammed ibn Mubarak Al-Khalifa confirmed Friday that Bahrain officially has ended its boycott of Israeli goods in favor of the United States’ Free Trade Agreement.
Like Taiwan’s first free trade agreement (FTA) with Panama its second free trade pact, with Guatemala, will have more significance politically than economically, economists said yesterday.
Welcoming the signing of the Free Trade Agreement between the US and the UAE, Anis Nassar, president of the American Business Council in Dubai said the move would help increase the economical potential of the Emirates.
Of late, there has been an outbreak of activism in the realm of bilateral free trade and investment agreements across the world. Many developing countries have found themselves swept off by the wave of bilateralism, not realizing it only weakens the cause of multilateralism.
An assessment published by a US military research outfit.
In a comprehensive approach to Indo-Pak engagement in Jammu and Kashmir, Former Pak Finance Minister Burki is calling for a sub-regional trade arrangement under the South Asia Free Trade Agreement (SAFTA).
"We are looking at something more than FTAs. We would like to sign CECAs with the Gulf states. They are an important area of foreign policy," the Indian Prime Minister Office sources said.
This conference provides a useful opportunity to reflect on the present and possible future role of APEC (Asia Pacific Economic Cooperation). In recent years, veteran APEC-watchers have rather complacently dismissed the grouping as irrelevant. But we may have under-estimated its contribution to the new matrix of economic alliances that are emerging within the region.
The way to counter the momentum of the US bilateral push would be to quickly bring to conclusion the deal between the GCC and the EU and through such a mechanism reinvigorate the multilateral approach to regional relations.
As the struggle for regional economic dominance in Northeast Asia heats up, the battle for free trade agreements (FTAs) has reached a new level, which may not only see the weakening of the multilateral trade system, but also the cancerous growth of geopolitical influence in regional trade.