September 14,2004

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

M E M O R A N D U M

To: Reporters and Editors
Re: Signing of the U.S.-Bahrain Free Trade Agreement
Da: Tuesday, Sept. 14, 2004

Sen. Chuck Grassley, chairman of the Committee on Finance, today made the followingstatement 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 stepin helping to level the playing field for America’s workers through trade. This is a first-class tradeagreement. 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 stateof Iowa.

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

“Most recently Congress passed legislation implementing the U.S.-Morocco Free TradeAgreement. Like passage of the Morocco FTA, consideration of bills implementing the CentralAmerican Free Trade Agreement and the U.S.-Bahrain FTA are important priorities for me. I hopemy colleagues in Congress won’t object to considering these agreements as soon as possible. I lookforward to working with the Administration and Senator Baucus to determine the most appropriatetime to consider these agreements.”