In September of this past year, Bahrain signed a Free Trade Pact with the United States. The opinions on the matter vary from a new Zionist Conspiracy to undermine the Arab world to complete indifference to absolute ecstacy that someone in Washington could actually find Bahrain. When Bahraini pearls show up at Bloomingdale’s, I’ll let you know. Since it seems to be a run of the mill off the rack FTA, you can expect whatever this dry read predicts. It mentions Bahrain, I promise.
Meanwhile, it seems like some of our neighbours are taking exception to this. They don’t like that we could undercut their prices for goods that could be resold in regional markets at a competitive advantage to Bahrain. Perhaps I am mistaken about this, but wasn’t that Dubai’s calling card?
The GCC wants to trumpet it’s own customs union which a person with no less than the stature of Mahmood has been a victim of. And in the process of killing time, Oman and the UAE get their pieces of the same action. When Frankincense and Khanjars show up at Macy’s, believe you me, I’ll be the first to let you know!
All I’m wondering is who woke from a drunken stupor and didn’t realize for two months that this arrangement was going to cost them their take from the purse?
Comments
Took their time, didn’t they?
What’s the point of raising objections when the FTA’s about to be ratified? If you’re against it in principle why not raise objections at the beginning of negotiations? Let me guess – the GCC trade official briefing the press has only just heard about it now and in shock has rushed out to speak to the first journalist he could find.
Took their time, didn’t they?
They did indeed, even the Oxford Business Group commented on it today.
Took their time, didn’t they?
Anything that pisses off the Saudis must be good.
What rational reason do the GCC countries have for imposing a 5% tarriff other than ripping off the consumer and stuffing the pockets of the government? It’s not like they’re protecting infant industries or anything good.
The wonderful thing about establishing free trade is that free speech and ideas come clutching its coattails. Because capitalist goods are cheaper and offer better quality, they chase out socialist goods and the socialist processes which produce them.
All this is good.
Steve
Took their time, didn’t they?
And who, may I ask, pressed his button?
It seems that our big neighbour to the west is a tad irked by Bahrain inking an FTA with the USA. We did with several others as well before the USA I think, yet not a peep was heard. We’re apparently discussing it with Singapore as well now. While Oman and Qatar are to start their discussions with the US for their own FTAs. Not sure that Saudi is prepared or even invited to talk FTA yet, maybe that’s why they’re jelous?