Bahrain, US sign deal to establish commercial zone

Bahrain, US sign deal to establish commercial zone

Bahrain, US sign deal to establish commercial zone

Bahrain, US sign deal to establish commercial zone

Bahrain, US sign deal to establish commercial zone

The volume of merchandise traded between the US and Bahrain reached $2.45 million in 2019, with an additional $1.5 billion in services. (Reuters/File)

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Bahrain, US sign deal to establish commercial zone

The US and Bahrain will promote the zone as a regional hub for trade, manufacturing, logistics, and distribution among American companies in Bahrain, the GCC, and beyond

Updated 14 January 2021

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DUBAI: The Bahraini Ministry of Industry, Commerce, and Tourism and the US Department of Commerce on Tuesday signed a memorandum of understanding (MoU) to promote bilateral business by establishing an American trade zone in Bahrain.

The new zone is aimed at boosting economic, commercial, and industrial cooperation between the two countries, the Bahrain News Agency (BNA) reported.

Under the terms of the MoU, the US and Bahrain will promote the zone as a regional hub for trade, manufacturing, logistics, and distribution among American companies in Bahrain, the GCC, and beyond.

The inking of the MoU will further reinforce the partnership between the two nations, which have a long history of solid economic and security cooperation.

The volume of merchandise traded between the US