Speaking to Gulf News on Thursday, deputy speaker of Bahrain's Council of Representatives, Abdul Hadi Marhoun suggested that Parliament may "speed up" the ratification of the country's free trade agreement (FTA) with the United States, despite the controversy that the planned pact has caused within the Gulf Cooperation Council (GCC).
"I understand the Cabinet will refer the FTA as soon as possible," he told the regional news service, continuing: "The majority of the MPs believe it will have a speedy process when it comes to ratification."
Objections have been expressed by fellow member states such as Saudi Arabia 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.
Under the terms of the planned FTA, signed in September, 90% of Bahraini products will have duty-free access to the US market, whilst 100% of consumer and industrial products and 81% of agricultural products from the United States will be duty-free in Bahrain.
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