According to a Gulf News report this week, Bahrain is set to come under pressure from other Gulf Cooperation Council (GCC) members to cancel the free trade agreement that it reached with the United States earlier this year.
The news service revealed that objections have been expressed because the GCC's customs union agreement imposes a 5% duty on all goods entering GCC countries from overseas, but the bilateral agreement between Bahrain and the US grants the latter duty free access to consumer and industrial products.
"This makes it difficult for GCC members to achieve our long-aspired economic bloc. The Bahrain-US FTA includes some articles that contradict the fundamentals of the GCC economic agreement," an official speaking on condition of anonymity told Gulf News.
However, Bahrain's government has reportedly rejected the criticism, arguing that the FTA with the United States was reached with the full knowledge of its GCC peers.
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