Bahrain to create free trade zone for US businesses
New zone seen as natural extension of Free Trade Agreement between US and Bahrain
Dubai: A free trade zone for American businesses will be set up in Bahrain.
The ‘US Trade Zone’ will be promoted as a regional trade, manufacturing and logistics hub for US companies looking at breaking into the Gulf and wider region. Future tenants at the free zone will also have priority access to shipments via Khalifa bin Salman Port, Bahrain International Airport, King Fahad Causeway or any new customs posts created by Bahrain.
“The favorable economic prospects in our region provides the ideal opportunity to US companies to further expand their business from USTZ,” said Zayed R. Alzayani, Bahrain’s Minister of Industry, Commerce, and Tourism. “The MoU will open new doors to strengthen the mutual relationships between the two markets based on the advantages of the Bahrain-US Free Trade Agreement (FTA).”
It was in 2002 that the US designated the Gulf state as a major “non-NATO ally”.