Negotiations of a free trade agreement between Israel and Bahrain: Progress has been made

The first round of negotiations for the signing of a free trade agreement between Israel and Bahrain has ended and significant progress has been made.The negotiating teams of Israel and Bahrain met this week in Manama, the capital of Bahrain, and discussed various issues including trade in goods, regulation and standardization, customs, trade in services, government procurement, e-commerce and the protection of intellectual property rights.

The delegation, led by the Foreign Trade Administration of the Ministry of Economy and the industry and other representatives from the ministry, as well as representatives of the customs administration at the Tax Authority, the Ministry of Agriculture, the Ministry of Foreign Affairs and the Ministry of Justice, stayed in Manama, the capital of Bahrain, for four days, during which significant progress was made in negotiating the agreement. Another round of negotiations corresponds to the month of December and is expected to take place in Israel in order to complete the shipment and providing the whole as soon as possible.
The agreement will lead to the tightening of economic relations between the countries and will be another layer in the fabric of regional ties that is taking shape after the establishment of the Abraham agreements about two years ago. The rapid progress in the negotiations is a consequence of the great importance that both sides attach to this agreement and from the perspective of the future potential of trade relations between the countries.
Ohad Cohen, director of the Foreign Trade Administration and head of the Israeli negotiation team: "The full potential of trade between all the countries of the Abraham Accords has not yet been realized. Together with our Bahraini colleagues, we are working to establish an agreement that will enable a significant expansion of trade relations between the State of Israel and the Kingdom of Bahrain, and create possibilities New and diverse for both sides. I would like to point out the close and cordial relationship that accompanies us in this process. This is an extraordinary atmosphere that was achieved in a very short time thanks to the willingness and openness shown by both sides and I congratulate it."
In 2021, the volume of Israeli exports to Bahrain was 3.8 million dollars, with most of it referring to pearls, diamonds and precious metals, but also chemicals and chemical industry products, machinery and electrical engineering. The volume of imports from Bahrain to Israel was 3.5 million dollars and contained mainly base metals, but also minerals and fuels.