The United States–Bahrain Free Trade Agreement (USBFTA) is a

free trade agreement A free-trade agreement (FTA) or treaty is an agreement according to international law to form a free-trade area between the cooperating states. There are two types of trade agreements: bilateral and multilateral. Bilateral trade agreements occ ...

(FTA) between the United States and Bahrain, signed on September 14, 2004. It was ratified by the

United States House of Representatives The United States House of Representatives, often referred to as the House of Representatives, the U.S. House, or simply the House, is the lower chamber of the United States Congress, with the Senate being the upper chamber. Together they ...

on December 7, 2005, by 327–95, with 10 not voting. The

United States Senate The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and po ...

approved the bill on December 13, 2005, by

voice vote In parliamentary procedure, a voice vote (from the Latin ''viva voce'', meaning "live voice") or acclamation is a voting method in deliberative assemblies (such as legislatures) in which a group vote is taken on a topic or motion by responding vo ...

. President George W. Bush signed the USBFTA Implementation Act into law () on January 11, 2006. The FTA was implemented on August 1, 2006, and will reduce certain barriers of trade between the two countries. Early stages of the Bahrain–U.S. free trade negotiations go back to the year 1999, with the signing of a

Bilateral Investment Treaty A bilateral investment treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in another state. This type of investment is called foreign direct investment (FDI). BITs a ...

(BIT), which entered into force May 31, 2001. It is the first such treaty signed between the United States and a member of the GCC, and is aimed at stimulating the flow of private investment between the two countries. Both parties agreed that a stable framework for investment would maximize effective utilization of economic resources and improve living standards. One year later, a

Trade and Investment Framework Agreement A Trade and Investment Framework Agreement (TIFA) is a trade pact that establishes a framework for expanding trade and resolving outstanding disputes between countries. TIFAs are often seen as an important step towards establishing Free Trade ...

(TIFA) was signed on June 18, 2002, representing the prelude for the FTA negotiations. The TIFA was designed as a forum for an ongoing bilateral dialogue on

economic reform Microeconomic reform (or often just economic reform) comprises policies directed to achieve improvements in economic efficiency, either by eliminating or reducing distortions in individual sectors of the economy or by reforming economy-wide polici ...

and

trade liberalization Free trade is a trade policy that does not restrict imports or exports. It can also be understood as the free market idea applied to international trade. In government, free trade is predominantly advocated by political parties that hold econ ...

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Rules of Origin Rules of origin are the rules to attribute a country of origin to a product in order to determine its "economic nationality". The need to establish rules of origin stems from the fact that the implementation of trade policy measures, such as tar ...

Market access In international trade, market access is a company's ability to enter a foreign market by selling its goods and services in another country. Market access is not the same as free trade, because market access is normally subject to conditions or re ...

Free-trade area A free-trade area is the region encompassing a trade bloc whose member countries have signed a free trade agreement (FTA). Such agreements involve cooperation between at least two countries to reduce trade barriers, import quotas and tariffs, and ...

Tariffs A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and po ...

References

External links

Final text of the U.S.–Bahrain Free Trade Agreement
Office of the United States Trade Representative
H.R. 4340 on GovTrack.us

* ttp://www.usitc.gov/publications/332/pub3726.pdf "U.S.–Bahrain Free Trade Agreement: Potential Economywide and Selected Sectoral Effects" U.S. International Trade Commission, October 2004
Congressional Research Service Report on Bahrain FTA

Citizens' Trade Campaign Site on Bahrain FTA

U.S. House Ways and Means Committee Hearing on Bahrain FTA

Testimony on Bahrain FTA of David Hamod, National U.S.-Arab Chamber of Commerce
{{DEFAULTSORT:Bahrain-United States Free Trade Agreement Free trade agreements of the United States Economy of Bahrain Treaties concluded in 2004 Treaties of Bahrain Treaties entered into force in 2006 2004 in Bahrain Acts of the 109th United States Congress Bahrain–United States relations Presidency of George W. Bush