For Immediate Release
Office of the Press Secretary
January 11, 2006
President Signs H.R. 4340, U.S.-Bahrain Free Trade Agreement
Today, the President signed legislation implementing the United States
Bahrain Free Trade Agreement (the "Agreement"). The Agreement enhances our
bilateral relationship with a strategic friend and ally in the Middle East
region and promotes economic growth and prosperity in both nations.
The Agreement reflects the President's commitment to opening markets and
expanding opportunities for American workers, farmers, ranchers, and
businesses. As the Agreement opens Bahrain's market for U.S. manufactured
goods, agricultural products, and services, it will also support economic
reform and growth for Bahrain. Leaders in Bahrain support the pursuit of
social and economic reforms in the region, encouraging foreign investment
connected to broad-based development, and providing better protection for
women and workers.
The Agreement is also a significant step in furthering the President's goal
of creating a Middle East Free Trade Area (MEFTA) by 2013. Through MEFTA,
the United States seeks to expand trade with and investment in Middle East
countries to further their domestic reforms and the rule of law, protect
intellectual property, and create a foundation for economic growth and
prosperity. Since the President announced MEFTA in May 2003, the United
States has completed free trade agreements with Bahrain, Morocco, and Oman;
initiated FTA talks with the United Arab Emirates; assisted in the
accession of Saudi Arabia to the WTO; and signed six Trade and Investment
Framework Agreements with Middle East countries, among other initiatives.
The United States will continue to expand MEFTA as a vital tool to address
the economic, social, and political challenges facing the Middle East.
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