Bahrain: GAFTA Council of Arab Economic Unity
2011/06/01
The Arab League has a long history of trying to foster trade and economic cooperation among its member states, with several initiatives takes in the 1950s and 1960s.
In 1981, an agreement to facilitate and promote inter-Arab trade was signed, but to little effect.
In February 1997, the League decided to create an Arab Free Trade Area, also known as the Greater Arab Free Trade Area or the Pan-Arab Free Trade Area, by 2008. This would be achieved through a 10% reduction in customs fees each year as well as the gradual elimination of trade barriers. Eighteen of the 22 Arab League states signed on to this agreement, which came into force on 1 January 1998.
In March 2001, it was decided to speed up the liberalisation process, and on 1 January 2005 the elimination of most tariffs among the GAFTA members was enforced.
The 17 states that are members of GAFTA are: Algeria, Bahrain, Egypt, Iraq, Kuwait, Lebanon, Libya, Morocco, Oman, Palestine, Qatar, Saudi Arabia, Sudan, Syria, Tunisia, United Arab Emirates and Yemen. Others are in the process of joining.
- Related Articles
-
Bahrain Business Forecast
2012/01/19 更多 document.getElementById("bdshell_js").src = "http://share.baidu.com/static/js/shell_v2.js?t=" + new Date().getHours(); -
Bahrain National Aquaculture Sector Overview
2012/01/01 更多 document.getElementById("bdshell_js").src = "http://share.baidu.com/static/js/shell_v2.js?t=" + new Date().getHours(); -
Imports of goods and services (annual % growth) in Bahrain
2011/09/24 Imports of goods and services (annual % growth) in Bahrain -
GDP (constant 2000 US dollar) in Bahrain
2011/09/24 GDP (constant 2000 US dollar) in Bahrain The GDP (constant 2000 US dollar) in Bahrain was reported at 13159972968.37 in 2008, according to the World Bank. GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. -
Bahrain Infrastructure Report 2011
2011/09/21 Bahrain Infrastructure Report 2011 Business Environment Ratings
-
- Bahrain News
-
- BAHRAIN: Aluminium Bahrain’s Line 6 Expansion Achieves 25 Percent Completion
- AFGHANISTAN: UNWTO: International tourism – strongest half-year results since 2010
- BAHRAIN: IMF urges Bahrain to implement further fiscal reforms
- BAHRAIN: Bahrain inks deal to develop solar power policies
- BAHRAIN: Bahrain's GFH acquires $1.2bn land bank
- BAHRAIN: Bahrain issues new rules to encourage fintech growth
- Trending Articles
-
- CHINA: The downsides to Singapore’s education system: streaming, stress and suicides
- CHINA: China embraces smart factory technology in manufacturing arms race with Germany, Japan
- PAKISTAN: Nawaz Sharif to become PML-N chief again?
- JAPAN: Carmakers face billions in European CO2 fines from 2021
- CHINA: Going green: the changing face of corporate finance
- FRANCE: UK growth will trail Italy, France and Germany next year, says OECD