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November 17, 2005
TO MEMBERS OF THE HOUSE/SENATE:
We are writing to urge your support for the U.S. - Bahrain
Free Trade Agreement. This is an important vote that will
help solidify the strong ties that currently exist between
the United States and Bahrain, a key ally in the Middle East.
The agreement has met all of the U.S. negotiating objectives
set out by the Congress under Trade Promotion Authority. Indeed,
the U.S.-Bahrain FTA promises to greatly benefit U.S. agriculture,
manufacturing and services, and deserves the bipartisan support
of Congress.
Under the terms of the agreement, all American consumer and
industrial products will immediately enter Bahrain duty-free.
In addition, Bahrain will provide immediate duty-free access
for U.S. agricultural exports in 98 percent of tariff lines,
with the remainder phased out over 10 years.
The agreement also creates important new opportunities for
the U.S. services sector, with banking, insurance and securities
services all gaining access to an important new market. Other
services expected to benefit from the FTA include architecture,
computer services, construction, engineering, express delivery,
healthcare and telecommunications.
The U.S. business community is fully supportive of this agreement,
and we are happy to note that the U.S.-Bahrain Free Trade
Agreement has been endorsed by Ways & Means Committee leadership
on both sides of the aisle.
Business Roundtable (www.businessroundtable.org)
is an association of chief executive officers of leading corporations
with a combined workforce of more than 10 million employees
and $4 trillion in annual revenues. The chief executives are
committed to advocating public policies that foster vigorous
economic growth, a dynamic global economy, and a well-trained
and productive U.S. workforce essential for future competitiveness.
Thank you for your consideration and your support.
Sincerely,
Harold McGraw III
Chairman, President and CEO, The McGraw-Hill Companies
Chairman of Business Roundtable's International Trade & Investment
Task Force
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