US-Bahrain Free Trade Agreement
Encyclopedia
The United States-Bahrain Free Trade Agreement (FTA) was signed September 14, 2004. It was ratified by the United States House of Representatives
on December 7, 2005 by 327-95, with 10 not voting. The United States Senate
approved the bill on December 13, 2005 by voice vote
.http://www.govtrack.us/congress/bill.xpd?&bill=h109-4340&tab= The President of the United States
, George W. Bush
, signed the USBFTA Implementation Act into law on January 11, 2006.http://georgewbush-whitehouse.archives.gov/news/releases/2006/01/20060111.html The FTA was implemented on August 1, 2006 http://www.ustr.gov/Document_Library/Press_Releases/2006/July/Statement_of_USTR_Susan_C_Schwab_Regarding_Entry_Into_Force_of_the_US_-Bahrain_Free_Trade_Agreement.html and will reduce certain barriers to trade between the two countries.
Early stages of the Bahrain
-US free trade negotiations go back to the year 1999, with the signing of the Bilateral Investment Treaty (BIT), which entered into force May 30, 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, the Trade and Investment Framework Agreement (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 and trade liberalization.
United States House of Representatives
The United States House of Representatives is one of the two Houses of the United States Congress, the bicameral legislature which also includes the Senate.The composition and powers of the House are established in Article One of the Constitution...
on December 7, 2005 by 327-95, with 10 not voting. The United States Senate
United States Senate
The United States Senate is the upper house of the bicameral legislature of the United States, and together with the United States House of Representatives comprises the United States Congress. The composition and powers of the Senate are established in Article One of the U.S. Constitution. Each...
approved the bill on December 13, 2005 by voice vote
Voice vote
A voice vote is a voting method used by deliberative assemblies in which a vote is taken on a topic or motion by responding verbally....
.http://www.govtrack.us/congress/bill.xpd?&bill=h109-4340&tab= The President of the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, George W. Bush
George W. Bush
George Walker Bush is an American politician who served as the 43rd President of the United States, from 2001 to 2009. Before that, he was the 46th Governor of Texas, having served from 1995 to 2000....
, signed the USBFTA Implementation Act into law on January 11, 2006.http://georgewbush-whitehouse.archives.gov/news/releases/2006/01/20060111.html The FTA was implemented on August 1, 2006 http://www.ustr.gov/Document_Library/Press_Releases/2006/July/Statement_of_USTR_Susan_C_Schwab_Regarding_Entry_Into_Force_of_the_US_-Bahrain_Free_Trade_Agreement.html and will reduce certain barriers to trade between the two countries.
Early stages of the Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
-US free trade negotiations go back to the year 1999, with the signing of the Bilateral Investment Treaty (BIT), which entered into force May 30, 2001. It is the first such treaty signed between the United States and a member of the GCC
Cooperation Council for the Arab States of the Gulf
The Cooperation Council for the Arab States of the Gulf , also known as the Gulf Cooperation Council , is a political and economic union of the Arab states bordering the Persian Gulf and constituting the Arabian Peninsula, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates...
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, the Trade and Investment Framework Agreement (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 and trade liberalization.