Latest news with #US-BahrainFreeTradeAgreement
Daily Tribune
17-04-2025
- Business
- Daily Tribune
Bahrain Committed to Continuing Zero-Tariff Policy on US Goods
His Excellency Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, reiterated the historic and multifaceted relationship between Bahrain and the United States, underscoring the Kingdom's commitment to enhancing economic and trade ties. This commitment aims to further increase bilateral trade in alignment with their strategic partnership. In response to a proposal concerning the imposition of reciprocal tariffs on US imports submitted by a Member of Parliament, the Minister emphasised that the Government of Bahrain is committed to continuing its zero-tariff policy on US goods, and pursuing avenues to deepen trade relations with the United States building upon the landmark US-Bahrain Free Trade Agreement, implemented in 2006 as America's first FTA in the Gulf region, continuing to strengthen what has become a model economic partnership. Bahrain's strategic position as the Gateway to the Gulf has enabled bilateral trade between the two nations to grow from USD 780m in 2005 to nearly USD 3 billion today, supported by our full tariff-free access for US goods – a policy that contributed to a US trade surplus of over $440million with the Kingdom of Bahrain in 2024 and an accumulated trade surplus of $4.4 billion since 2006. The Kingdom of Bahrain has also cemented its role as a regional hub through initiatives like the dedicated US Trade Zone at Khalifa bin Salman Port, which provides an efficient gateway for American goods to reach the Kingdom of Bahrain and regional markets. The Minister concluded by affirming that Bahrain remains dedicated to fostering a supportive environment for trade and investment, ensuring that the benefits of this strong partnership continue to flourish for both nations.
Daily Tribune
03-04-2025
- Business
- Daily Tribune
Check Out How USA's Reciprocal Tariffs Impact Each Country
President Donald J. Trump has reaffirmed his administration's commitment to ensuring fair trade by enforcing reciprocal tariffs, stating, 'Our country and its taxpayers have been ripped off for fifty years, but it's not going to happen anymore.' 🇺🇸 The new trade policy aims to impose tariffs on imports that match the rates other countries apply to U.S. goods, promoting a level playing field for American businesses. Meanwhile, 🇧🇭 Bahrain's Ambassador to the U.S., HE Shaikh Abdullah bin Rashid Al Khalifa, emphasized the continued success of the US-Bahrain Free Trade Agreement (FTA), which ensures 0% tariffs on all American goods. With trade between the two nations soaring to nearly $3 billion, Bahrain remains a key economic partner, serving as the Gateway to the Gulf for U.S. businesses.
Daily Tribune
02-04-2025
- Business
- Daily Tribune
Bahrain's Ambassador to the US: Zero-Tariff Access for All American Goods to Bahrain
His Excellency Shaikh Abdullah bin Rashid Al Khalifa, Ambassador of the Kingdom of Bahrain to the United States, emphasised that the landmark US-Bahrain Free Trade Agreement, implemented in 2006 as America's first FTA in the Gulf region, has successfully led to the implementation of 0% tariffs on all US goods trade with Bahrain, strengthening what has become a model economic partnership. His Excellency highlighted the importance of Bahrain's strategic position as the Gateway to the Gulf in enabling bilateral trade between the two nations to grow from USD 780m in 2005 to nearly USD 3 billion today, supported by the full tariff-free access for US goods – a policy that contributed to a US trade surplus of over USD440 million with the Kingdom of Bahrain in 2024 and an accumulated trade surplus of USD4.4 billion since 2006. The Ambassador also noted that Kingdom of Bahrain has cemented its role as a regional hub through initiatives like the dedicated US Trade Zone at Khalifa bin Salman Port, which provides an efficient gateway for American goods to reach the Kingdom of Bahrain and regional markets. Reaffirming Bahrain's commitment to this exceptional partnership, His Excellency underscored the Kingdom of Bahrain's dedication to deepening the strong partnership with the the US and serving as an ideal platform for US trade and investment in the region.
