Trade Agreements Middle East Countries

As with the old ASEAN-FTA plan, the idea is to build the free trade agreement little by little from the bottom up. In this regard, this theoretically means putting all countries on a scale of the necessary conditions: from WTO membership to a framework trade and investment agreement leading to a bilateral investment agreement and/or a free trade agreement. We will start negotiations for a free trade agreement with Bahrain, which I visited recently. I was very impressed by the economic reforms in that country. The leaders there understood that they would be one of the first post-oil and gas industries in the Persian Gulf. Bahrain has experienced real GDP growth of about 4 to 5 per cent over the past three years. It had introduced very good intellectual property laws; the reduction of tariffs, in particular trade rules; and has developed a strategy to become a financial services centre. .