Grassley Comments on Signing of the U.S. - Bahrain Free Trade Agreement

M E M O R A N D U M

Sen. Chuck Grassley, chairman of the Committee on Finance, today made the following statement regarding the signing of the U.S.-Bahrain Free Trade Agreement.

"Today’s signing of the U.S.-Bahrain Free Trade Agreement is yet another important step in helping to level the playing field for America’s workers through trade. This is a first-class trade agreement. It provides the broadest services openings of any FTA negotiated by the United States. This is good news for U.S. financial services and insurance firms, including those in my home state of Iowa.

"The U.S.-Bahrain FTA also will help to advance the President’s goal of achieving a Middle East Free Trade Agreement by 2013. This visionary agenda is a key element in our joint efforts to help foster economic growth and prosperity in an important region of the world. It also reflects keen appreciation by the Bush administration of the 9/11 Commission Report recommendation that ‘a comprehensive U.S. strategy to counter terrorism should include economic policies to encourage development, more open societies, and opportunities for people to improve the lives of their families and to enhance prospects for their children’s future.’

"Most recently Congress passed legislation implementing the U.S.-Morocco Free Trade Agreement. Like passage of the Morocco FTA, consideration of bills implementing the Central American Free Trade Agreement and the U.S.-Bahrain FTA are important priorities for me. I hope my colleagues in Congress won’t object to considering these agreements as soon as possible. I look forward to working with the Administration and Senator Baucus to determine the most appropriate time to consider these agreements."