Tariff exemption hope for Bahrain...

Manama: Bahrain could be exempt from US import tariffs on steel and aluminium, according to US Deputy Secretary of State John Sullivan.

He made the announcement last night during a roundtable at the Ritz-Carlton Bahrain, also attended by US Ambassador Justin Siberell.

He is on a two-day visit to Bahrain, during which he has held talks with His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa, Deputy Prime Minister Shaikh Mohammed bin Mubarak Al Khalifa, ministers and members of the business community.

Bahrain has a Free Trade Agreement (FTA) with the US, but Mr Sullivan said there was scope for further co-operation.

“The FTA has helped increase trade between both countries, but there is much more,” he said.

“We are not limited. We see great prospects for Bahrain’s economy and the recent oil discovery in April, on the west coast of Bahrain, would see us working with US companies to pursue opportunities here.

“Bahrain could be exempted from tariffs on aluminium and steel exports to the US.”

Meanwhile, Mr Sullivan said the US was seeking to change Iranian attitudes towards the Gulf and other countries.

“It is well documented that there are threats by Iran to the region and this is why we withdrew from the Joint Comprehensive Plan of Action with Iran, as we seek to have the sanctions re-imposed with the first being in August and the next coming on November 4 as we look to change Iranian behaviour – it is not a regime change, it is a behaviour change that we want,” he said.

“We are negotiating with our partners to waive the nuclear deal to help achieve that.”

Source : http://www.gdnonline.com/Details/425711