Bahrain on Sunday laid the foundation stone for United States Trade Zone (USTZ) at Salman Industrial City.
The ceremony among others was attended by the Minister of Industry, Commerce and Tourism Zayed bin Rashid Al Zayani and US Ambassador to the Kingdom of Bahrain Steven C. Bondy.
The USTZ project follows the visit of the UAE’s Crown Prince and Prime Minister Salman bin Hamad Al Khalifa to the USA in November 2019.
A memorandum of understanding was signed in 2021, to establish the trade zone which will contribute to boosting economic, commercial and industrial cooperation and support bilateral trade exchanges.
The American Trade Zone is part of the investment and strategic projects package announced in the Industry Sector Strategy (2022-2026).Â
Bahrain and the USA will start promoting the zone as a regional center for trade, manufacturing, logistics and distribution among American companies in the Kingdom and GCC markets beyond.
“The availability of economic opportunities in the region is an ideal opportunity for American companies to invest and expand their business through the American trade zone in Bahrain,” said the minister.
He said that the project would usher in broader prospects for joint commercial relations between the two countries in accordance with the advantages of the free trade agreement.