Bahraini-US FTA likely to go into effect on August 1st
Bahrain News Agency
Bahraini-US FTA likely to go into effect on August 1st
June 16, 2006
Manama, June 16, (BNA) — A US source, close to the Free Trade Agreement negotiations, said it is likely the Bahraini US commercial agreement will go into effect in early August 2006 after Bahrain endorses all Intellectual Copyright Laws.
The last Author Copyright Law is expected to be endorsed by end of this month, Bahraini "Al wakt" newspaper reported on the source as saying, adding that the US will need a fortnight to three weeks to make the final preparations for the Free Trade Agreement (FTA) to go into effect, most probably on August 1st.
It is to be noted that the Bahraini Representatives Council had approved the FTA which was similarly ratified by the US Congress last December finally endorsed by US President, George Bush, last January.
Last year, the volume of Bahraini-US commercial transaction last year was reckoned at $ 782.1 million, the equivalent of BD 295.6 million.
The free trade agreements concluded by the US with Arab countries are preliminary steps towards the creation of a free trade area in the Middle East by 2013, as was declared by President Bush in May 2003.
