WT/TPR/M/419  
2 March 2022 
(22-1933) Page: 1/37 
Trade Policy Review Body  Original: English  
24 and 26 November 2021  
  
TRADE POLICY  REVIEW  
THE KINGDOM OF BAHRAIN  
MINUTES OF THE MEETING  
Chairperson: H.E. Dr Athaliah Lesiba Molokomme (Botswana)  
CONTENTS  
 
1  INTRODUCTORY REMARKS BY THE CHAIRPERSON  ................................ .......................  2 
2  OPENING STATEMENT BY THE REPRESENTATIVE OF THE KINGDOM OF BAHRAIN ........  4 
3  STATEMENT BY THE DISCUSSANT  ................................ ................................ ................  9 
4  STATEMENTS BY MEMBERS  ................................ ................................ ........................  12 
5  REPLIES BY THE REPRESENTATIVE OF  THE KINGDOM OF BAHRAIN  AND  
ADDITI ONAL COMMENTS  ................................ ................................ ...............................  32 
6  CONCLUDING REMARKS BY THE CHAIRPERSON  ................................ .........................  36 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Note: Advance written questions and additional questions by WTO Members, and the replies provided 
by the Kingdom of Bahrain are reproduced in document WT/TPR/M/ 419/Add.1  and will be available 
online at http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 2 - 
 
  1  INTRODUCTORY REMARKS BY THE CHAIRPERSON  
1.1.  The fourth Trade Policy Review of the Kingdom  of Bahrain was held on 24 and 
26 November  2021. The Chairperson, H.E.  Dr Athaliah Lesiba Molokomme (Botswana)  welcomed 
the delegation of the Kingdom  of Bahrain , headed by  H.E. Mr Zayed bin Rashid Al Zayani , Minister 
of Industry Commerce and Tourism ; H.E.  Ambassador  Dr Yusuf Abdulkarim Bucheeri , Permanent 
Representative of the Kingdom  of Bahrain  to the WTO; the rest of the delegation; and the discussant, 
H.E. Mr Li Chenggang  (China) . 
1.2.  The Chairperson was pleased that, in addition to physical presence, the meeting also benefited 
from the Interpref y online connection, allowing for a wider participation of the Membership, in 
particular of officials who could not make the journey from  Manama  given the current circumstances.  
1.3.  The Chairperson recalled the purpose of TPRs and the main elements of procedu res for the 
meeting. The report by the Kingdom  of Bahrain  is contained in document WT/TPR/G/ 419, and that 
of the WTO Secretariat in document WT/TPR/S/ 419. 
1.4.  Questions by the following delegations were submitted in writing before the deadline: The 
Kingdom  of Saudi  Arabia; the United  States; Canada; Singapore; Brazil; the European  Union; 
China; and Israel . The following delegations submitted written questions after the deadline: India; 
Thailand ; Iceland; and Turkey.  
1.5.  At the time of the previous Review in 2014, M embers had praised Bahrain for its sound 
macroeconomic indicators. They had welcomed its efforts to promote the well -being of its citizens 
through investing in education, healthcare, and sustainable development. Appreciation was shown 
to the steps taken by  Bahrain to promote a business -friendly environment, and to reform its customs 
regime by, inter alia, having introduced a single window system. However, Members had pointed 
out Bahrain's narrow economic base as a source of vulnerability and thus a challeng e that had 
required bold measures to diversify the economy away from hydrocarbons.  
1.6.  Members also expressed concerns about other issues, including the country's cumbersome 
customs procedures, its consularization requirements, its relatively low level of bin ding coverage at 
ceiling rates in general, and its restrictions to foreign investments.  
1.7.  Bahrain was also encouraged to align its SPS measures to international good practices.  
1.8.  During the period under review, economic diversification  continued being at the core of 
Bahrain's overall economic policy, guided by its Economic Vision 2030 strategy. The Secretariat and 
Government reports highlighted that, under the strategy, several programmes  were adopted in 
various economic sectors and the country's infrastru cture had been enhanced.  
1.9.  The Economic Vision 2030 strategy, together with macroeconomic reforms,  largely contributed 
to Bahrain's recent economic success, with a booming non -oil sector and positive GDP growth over 
the period 2014 -19. Structural reforms al so played their part. These included: the enactment of 
various laws to improve the regulatory environment; the streamlining of business registration and 
licensing requirements; the removal of foreign ownership restrictions on several business activities; 
reforms in customs -related matters, internal taxation, competition policy; and programmes to 
strengthen the role of the private sector.  
1.10.   However, due to the COVID -19 pandemic and falling oil prices, the economy contracted by an 
estimated 5.1% in 2020. The au thorities announced several stimulus packages in 2020 and 2021 to 
mitigate the impact of these shocks. As indicated by the Secretariat's report, these measures were 
likely to impair the results of the ongoing fiscal reforms and further deteriorate Bahrain' s fiscal 
position  
1.11.   The advance written questions submitted for this Review illustrated the wide range of topics 
of interest to Members regarding Bahrain's trade and investment regimes. Numerous questions were 
raised concerning notification of trade -related measures, SPS and TBT regulations, state -owned 
enterprises, trade facilitation measures including customs procedures, tariffs, incentives including 
subsidies, intellectual property rights, government procurement, sectoral policies, and measures to WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 3 - 
 
  mitigate  climate change.  The Chairperson was sure that these topics, as well as others, would be 
thoroughly discussed by Members during the two -day meeting.  
1.12.   Bahrain received 135  advance written questions from 11  Members for this review, out of 
which 8 were sent wi thin the established deadline.  Prior to this meeting, Bahrain had already 
provided written replies to all of these questions  and the Chairperson looked forward to hearing 
Bahrain's updates on these matters during the second day of the  session.  
1.13.   This meeting  was a good opportunity for Members to discuss in greater detail, issues of 
interest to them and of systemic importance to the multilateral trading system.  It was also an 
opportune moment for Bahrain to update the Membership on the impact of the COVID -19 pandemic 
on its economy, and on its response measures. The Chairperson look ed forward to a fruitful 
exchange.  
1.14.   The Chairperson closed her introductory remarks by wishing Bahrain a very successful 
fourth  Trade Policy Review.  
  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 4 - 
 
  2  OPENING STATEMENT BY THE REPRESENTATIVE OF THE KINGDOM OF BAHRAIN 
(H.E. MR ZAYED BIN RASHID AL ZAYANI ) 
2.1.  I am honored to be here in person to address this esteemed audience and on behalf of the 
Kingdom  of Bahrain, allow me to begin by thanking our Chair, H.E . Ambassador  Athaliah 
Molokomme of Botswana, for her kind words of welcome and introduction to Bahrain's fourth  Trade 
Policy Review, as well as H.E.  Ambassador  Li Chenggang of China, whom we are honoured to have 
as our discussant.  
2.2.  Our sincere appreciation  also goes to the Director General of the World Trade Organization, 
H.E. Dr Ngozi  Okonjo -Iweala, and the WTO Secretariat for their outstanding efforts and support in 
making this TPR a successful one. Dedicated thanks also go to Mr  Willy Alfaro, Director of  the WTO 
Trade Policies Review Division, and his team for their hard work in producing the report which 
provides a basis for our discussion today.  
2.3.  I would also like to extend our gratitude to WTO Member countries who have taken a close 
interest in our subm issions, having received more than 1 40 queries and clarification from 
12 countries. That is a true testimony to the progress Bahrain achieved since our last TPR in 2014.  
2.4.  The Kingdom  of Bahrain highly values the role of the trade policy review exercise as one of the 
most important instruments at the WTO for ensuring transparency and predictability in the 
multilateral trading system. Its ability in providing a platform for Members to share policy initiatives 
and measures, as we ll as to enhance national coordination and implementation of such initiatives 
and measures within government entities, the business community and private stakeholders cannot 
be underestimated.  
2.5.  Such an exercise not only affords a greater awareness and under standing of Members' trade 
policies and practices and the legitimate justifications behind them, but also contributes to 
monitoring and containing the surge of protectionism and unilateral trade distortive measures.  
2.6.  For many centuries, Bahrain has always been a trading hub whether it being a trading post 
between the Hindus Valley and Mesopotamia, or a destination on the silk route, or the center for the 
pearling industry prior to the discovery of oil in the Arabian Gulf. Today, however, and as a 
developing  economy that thrives on free trade, Bahrain believes in the effectiveness of a strong 
rules-based multilateral system in ensuring a fair and predictable international trading environment 
as a prerequisite for long -term global economic growth and developme nt.  
2.7.  Having said that, I am very pleased to introduce an overview of the Kingdom  of Bahrain's 
fourth  Trade Policy Review.  
2.8.  Our inclusive TPR exercise today, based on the comprehensive technical and institutional 
reports prepared by the WTO Secretariat and our government agencies, the valuable questions and 
comments from Members, and our answers provided to such questions, confirms that the 
Kingdom  of Bahrain's business environment is one of the most efficient, rewarding, and friendly 
amongst the developing countries.  
2.9.  As I already mentioned, Bahrain has served for millennia as a hub for investment and trade in 
the Arabian Gulf and beyond. Its unique business culture builds on a long -standing tradition of 
openness to people, ideas, and capital. This accounts for its deeply entrenched culture of freedom, 
rule of law, tolerance and innovation which has paved the way for Bahrain's unique position as a 
regional pioneer of economic development in a number of areas. Trade is not a newly introduced 
concept to us, it is inherited principle from our ancestors, it is simply embedded within our DNA.  
2.10.   During the period under review, the Kingdom  of Bahrain has maintained its commitment in 
implementing WTO -consistent trade policies and measures. Since our last TPR in 2014, the global 
economy has faced many challenges, not least in light of the catastrophic COVID -19 pandemic. 
Despite such challenges, the Kingdom  of Bahrain has shown resilience and ability to cope by placing 
trade policy at the center of its overall poli cy response and showing commitment to economic 
diversification which has delivered tangible results across key sectors.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 5 - 
 
  2.11.   In 2008, the Kingdom  of Bahrain launched the Economic Vision 2030 as a roadmap for making 
Bahrain a sustainable, competitive, fair, and  knowledge -based economy. The initiative, along with 
constitutional amendments made in 2012, have positively impacted the national business 
environment towards more competitiveness, sustainable development, skilled employment, 
economic growth, and social f airness. As a direct result, our GDP grew by 50% from USD 25.7 billion 
in 2008 to USD 38.5 billion in 2019.  
2.12.   In light of the Vision  2030 goals, the Government of Bahrain focused on drafting a program 
based on the achievement of the nation and its citizens e ntitled "Sustainable Economic and Social 
Security within a Fiscal Balance" for the years 2019 to 2022, which aims to reach a financial balance 
between expenditures and revenues whilst continuing to achieve positive economic growth and 
monetary stability. D ue to the pandemic, the program now is extended to 2024.  
2.13.   The government Program includes nine general goals that the Government aims to achieve 
during the designated three -year period, based on three main priorities including strengthening the 
basic princi ples of the state and society, achieving financial sustainability and economic 
development, and securing an environment that supports sustainable development.  
2.14.   Bahrain's economic diversification efforts is reflected in a diverse national labor force where 
two thirds of economically active Bahraini nationals are considered active in the private sector. 
Following decades of economic diversification and focused investment in education and training, 
including initiatives such as the labor fund "TAMKEEN", an Arab ic word for "empowerment", Bahrainis 
are active in all sectors of the economy, with Bahranization rates strongly correlated with economic 
productivity. Moreover, empowering the Bahraini Youth and Women, is one of the most effective 
factors in the diversity  of the national workforce.  
2.15.   Bahrain's labo r productivity has been rated as the highest in the Arabian Gulf region, with the 
highest presence of bilingual youth graduates in the workforce. Bahrainis account for up to 80% of 
the workforce in key sectors such  as aluminum , aviation and financial services, with unemployment 
figures in Bahrain considered relatively low – estimated at 5% in December  2020. It also enjoys a 
commendable level of female participation in both the public and private sectors.  
2.16.   The constitution of the Kingdom  of Bahrain ensures women are afforded public rights and 
freedoms, including the right to participate in public affairs, vote, and stand for office. It also details 
the state's role in supporting women balancing their family duti es and their contributions to society. 
Their equality with men in political, social, cultural, and economic issues is also recognized without 
prejudice to the provisions of Islamic Sharia.  
2.17.   The Supreme Council for Women has designed as per its mandate and c ontinues to monitor 
the implementation of a National Plan for the Advancement of Bahraini Women (2013 -2022) 
whereby women's participation in the labor market is an integral cornerstone of the plan and 
encompasses a clear method for monitoring and evaluatio n in accordance with clear macro and 
micro -level key performance indicators.  
2.18.   Bahraini women proved their presence in the labor market and entered nearly all fields of 
work in the private and public domains and entrepreneurship. Bahrain sought to ensure the  full 
participation of women in the national economy in all its fields based on the principle of equal 
opportunities with the aim of attaining the desired level of gender balance.  
2.19.   The measures taken by the Kingdom  of Bahrain in the field of women's develo pment and 
empowerment have led to significant progress for the Kingdom. Women currently make up 53% of 
the total number of Bahraini employees, and 43% of total executive positions in the public sector. 
Bahraini women's participation in the labor force incr eased from 26% to 43% during the period of 
2001-2020 by an increase rate of 17%. In addition, women in the Kingdom constitute 41% of 
commercial registration owners and 52% of virtual commercial registration owners.  
2.20.   During the past few years, in a direct po licy to facilitate and encourage commerce, Bahrain 
amended a number of laws such as Judicial Authority Law and Evidence Law, in addition to that 
Bahrain have introduced a new laws like Court Execution Law, Data Protection Law and Bankruptcy 
& Reorganizatio n Law, which all helped in developing the whole judicial system and supporting 
sectors.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 6 - 
 
  2.21.   Building on for the future, Bahrain has undertaken a number of initiatives to support Youth 
Empowerment which is overseen by the Ministry of Youth and Sports, including  the "King Hamad 
Youth Empowerment Award to" to achieve the SDGs, as well as establishing "Hope Fund" which an 
aim to empower and invest in the next generation of promising Bahraini entrepreneurs by identifying 
ambitious entrepreneurs and provide them with  the necessary tools, resources and networks to scale 
and thrive in the regions entrepreneurship landscape, and also most recently a dedication for a Youth 
Day which will fall on the 25  March every year to support their role in Bahrain's growth and 
develop ment.  
2.22.   Diversification of the Bahraini economy is the cornerstone of the Kingdom's Vision  2030. 
Bahrain's diversification efforts away from oil have gained momentum, with non -oil exports 
witnessing a 4.6% average annual growth rate between 2010 -2020, and t he contribution of non -oil 
exports to total exports increasing from 27% in 2010 to 53% in 2020. Non -oil imports also 
experienced 2.4% average annual growth during the past decade.  
2.23.   Although recently challenged by new sectors such as IT, Telecoms, Tourism a nd Logistics, 
traditionally, Financial Services Industrialization have formed the backbone of Bahrain's drive for 
economic diversification for more than five decades. The Kingdom's Vision 2030 initiative confirmed 
the importance of the manufacturing sector  as a key driver for the diversification process in 
establishing an innovative and knowledge -based economy.  
2.24.   Bahrain's diversification plans focus on reducing positively correlated volatilities amongst 
industries, avoiding fluctuation, and attracting an opt imal combination of industrial investments in 
this pursuit.  
2.25.   Bahrain is concurrently focusing on developing a competitive SME sector, delivering 
international quality products and services, and contributing to quality employment opportunities. 
In 2017, the Kingdom  of Bahrain issued a Cabinet decision to allocate 20% of the value of 
government procurements and tenders for SMEs, and to obtain a preference of 10% in the biddings 
for the utilities that take place within the government's facilities. In addition, the Kingdom launched 
multiple programs to assist SMEs in accessing markets in different sectors, as well as another 
21 initiatives related to access to SMEs development, as part of the National SME Development 
Strategy launched in February  2018.  
2.26.   The succes s witnessed in the financial sector of the Kingdom can be linked to the steps taken 
by the Central Bank of Bahrain to enhance the regulatory environment in which financial institutions 
operate. Many important regulations have been issued which are in line with internationally 
recognized standards such as the implementation of Basel II and III of the Basel Accords.  
2.27.   The 2019 -2020 state budget clearly demonstrates that the Kingdom  of Bahrain is prioritizing 
sound fiscal and economic policies whilst safeguardi ng the continued prosperity of its citizens. 
Cooperation of parliament is welcomed as it continues to play a valuable role in the Kingdom's efforts 
to deliver a strong and sustainable economy. The deficit of Bahrain is down by over a third and early 
indica tors show a robust growth in GDP in the first part of the year, putting the Kingdom well on 
track to deliver a balanced budget by 2024.  
2.28.   Bahrain seeks to develop its tourism industry as a key platform for sustainable future 
economic growth and diversificat ion. In seeking to maximize the potential growth in the tourism 
industry, Bahrain continues to capitalize on the advantages of its natural environment, cultural 
heritage, geographical location, moderate and tolerant society, and remarkable culture of hospi tality.  
This was made clearly evident in the recent Tourism Strategy launched in November 2021, whereby 
the sector contribution to GDP is forecasted to grow to 11.4% by end of 2026.  
2.29.   Bahrain has also ranked 29th in the world for Network Readiness according  to the Global 
Information Technology Report issued by WEF, attesting to the Kingdom's leverage of advances in 
information and communication technologies to drive economic productivity and social development.  
2.30.   During the review period, the Government has en couraged private sector investment in 
various sectors such as utilities, education, healthcare, and housing and has fully privatized its public 
transportation system.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 7 - 
 
  2.31.   In line with the Economic Vision 2030, health care is a central priority in the Kingdom' s efforts, 
as the Ministry of Health commits to working as a unified governmental system to ensure 
sustainability, competitiveness, and justice in providing health care services. The health care system 
in Bahrain has adopted Fourth Industrial Revolution te chnologies that are based on the diversification 
of income sources and non -reliance on fuel as a soul source, in addition to expanding digital 
industries and opening the way for investments in the healthcare sector.  
2.32.   National Health Information System (I -SEHA) is one of the major developments in the 
healthcare system within the Kingdom. The I -SEHA system aims to implement a National Health 
Information System that applies the latest techniques in health services to improve services for 
patients and increase t he efficiency, quality, and speed of delivery of paperless health services for 
citizens and residents.  
2.33.   In terms of the Kingdom's COVID -19 response efforts, Bahrain launched its first stimulus 
package as early as March  2020 totalling  around USD  11.3 billion  (equivalent to 32% of the GDP) 
which focused on aiding the most affected business sectors with over 34  initiatives and 90  thousand 
Bahraini employees benefiting from the scheme.  This package was further followed by lesser 
packages focusing on the most aff ected sectors and extending as late as second quarter of 2021.  
2.34.   Focused on economic recovery post COVID -19, the Government of Bahrain announced earlier 
in late October  2021 one of the largest economic growth plans. The new plan aims at enhancing the 
long-term economic competitiveness of Bahrain, while achieving its goals of fiscal sustainability.  
2.35.   The five -pillar plan aligned with the objectives of Bahrain's Economic  Vision  2030 and 
includes:  
• Labour Market Reform Plan: To include a long -term National Labour  Market Strategy and 
one to further develop and upskill the Bahraini workforce. The program aims to create 
20,000 Bahraini jobs and train 10,000 Bahraini annually until 2024.  
• Regulatory Reform Package: including simplifying the government processes and make them 
more effective with the aim of attracting FDI worth USD  2.5 billion by 2023.  
• Strategic Projects Plan: catalyzing over USD  30 billion of investments in strategic projects. 
This includes creating new industrial investment areas and d eveloping partnerships with the 
private sector on large projects.  
• Priority Sectors Development Plan: six new sector strategies will be implemented across oil 
and gas; tourism; logistics; manufacturing; financial services; telecommunications ; IT; and 
digital economy , aiming to support annual growth of 5% in the non -oil sector by 2022.  
• Fiscal Balance Program: aiming to balance Bahrain's budget by 2024, by reducing 
government spending, streamlining subsidy programs, and diversifying the non -oil revenue 
sourc es of the government.  
2.36.   The Kingdom  of Bahrain is working continuously in implementing its trade policies in line with 
its WTO commitments and is fully applying the Trade Facilitation Agreement two  years ahead of 
planned date.  
2.37.   The Kingdom  of Bahrain is commi tted to developing all areas of private enterprise and have 
carried out a thorough update and revision of all commercial laws with a view to eliminate obstacles 
and ease the process of setting up businesses in Bahrain. In this regard, the Government of Bah rain 
has embarked on several new reform steps to make Bahrain a truly viable candidate for foreign 
businesses and direct investment inflow through expanding the private sector contribution to 
national GDP.  
2.38.   Since 2015, the Ministry of Industry, Commerce and Tourism has been mandated to 
streamline its operations and licensing processes in order to further stimulate our private sector as 
well as attract FDI to be the main driver of our economy. In this regard, in the past few years we 
have abolished almost 80 % of the requirements to set up businesses in Bahrain, such as minimum 
Capital Requirements, Residency Requirements, Personal Qualifications and Multiple Business WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 8 - 
 
  Ownership. In addition, our most evident milestone came to light in 2016 with the launch of o ur 
online registration portal (Sijilat) followed shortly by the launch of (Sijili), a unique CR availed to 
Bahrainis wishing to work as freelancers from home. This has directly resulted in a surge in new CR 
issuance as well as an expansion of the business activities added within existing CRs.  
2.39.   In closing, allow me to express our sincere appreciation for the joint technical and institutional 
contributions of all those concerned in making this fourth  TPR of the Kingdom  of Bahrain a fruitful 
and successful event. Once again, we would like to extend our gratitude to the Chair for her able 
chairmanship of the TPR Committee, our discussant for his valuable comments, the WTO Secretariat 
for their outstanding preparatory efforts and the distinguished d elegations of all WTO Members who 
have contributed greatly to this exercise with their valuable comments and questions.  
2.40.   As a founding Member of the WTO and strong supporter of open global trade, the 
Kingdom  of Bahrain is committed to maintaining and enhanc ing our cooperation with the 
World  Trade Organization and are fully prepared to engage constructively in the work ahead. We are 
also very much looking forward to the 12th Ministerial Conference taking place next week and are 
eager to witness concrete outco mes in issues of vital interest such as fisheries subsidies, 
e-commerce, investment facilitation and other areas of work that took place at the WTO. To this 
end, we would like to reaffirm our commitment and willingness to engage actively with all WTO 
Membe rs in achieving such concrete outcomes and ensuring a successful Ministerial Conference.  
2.41.   Thank you very much for your kind attention and we look forward to receiving your comments 
and views in the hopes of concluding a very successful fourth  Trade Policy Review.  
  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 9 - 
 
  3  STATEMENT BY THE DISCUSSANT  
3.1.  It is my honor to serve as the discussant for the fourth  Trade Policy Review of the 
Kingdom  of Bahrain. Let me begin by extending a very warm welcome to the delegation of the 
Kingdom  of Bahrain headed by H.E.  Mr Zayed bin Rashid Al Zayani. I also extend my appreciation 
for the remarkable work accomplished by H.E.  Ambassador  Yusuf Abdulkarim Mohammed Bucheeri 
and his capable team here in Geneva. My appreciation also goes to the Secretariat team for their 
comprehensive an d invaluable report prepared for this review.   
3.2.  The Trade Policy Review Mechanism is one of the central pillars of the multilateral trading 
system and an important tool for ensuring transparency in the global trade. The review will keep us 
abreast of evolving trading landscape and developments in trade policy of Bahrain since 2014.  
3.3.  I would like to take this opportunity to share my observations of Bahrain's review on the 
following points.  
3.4.  First, despite having a relatively small population, with only 1.5  million, Bahrain enjoys notable 
and respectable p ositions in the world.  
3.5.  It is considered as a high -income country by the World Bank in 2020 with GDP per capita of 
USD 23,300. Its economy was categorized in 40th place of 178  economies and as "moderately free" 
in the Heritage Foundation's 2021 Index of Ec onomic Freedom. It was the 45  most competitive 
nation in the world out of 140  countries in the 2019 edition of the Global Competitiveness Report 
and 43  among 190  economies in the ease of doing business according to the latest World Bank 
annual ratings in 2 019. It was ranked in 42nd place of 189  economies in the 2020 UNDP Human 
Development Index, 79th among the 131  economies featured in the Global Innovation Index on 
innovation capabilities in 2020 and in 78th place out of 180 economies in Transparency Inter national's 
2020 Corruption Perceptions Index.  
3.6.  Second, economic diversification continues to be at the core of Bahrain 's overall economic 
policy objectives.  
3.7.  Bahrain has comparatively limited hydrocarbon reserves. As such, Bahrain is more driven than 
other  fellow GCC members to diversify its economy and maintain sustainable level of development. 
It would be remiss if I did not commend Bahrain's Economic Vision  2030 launched in 2008, which 
focuses on the principles of fairness, competitiveness, and sustainab ility to shape the vision of the 
Government. This vision together with government action plans (the current one covers the period 
2019-22) establishes a roadmap to raise Bahrain's level of economic diversification through exploring 
new industries such as f inance, tourism, and manufacturing; fostering the role of the private sector; 
and enhancing international trade and investment. It also aims at reducing carbon emissions, 
minimizing pollution, and promoting more sustainable energy. It would be of great int erest to learn 
more about this Vision.  
3.8.  With its longstanding diversification efforts, the share of the hydrocarbon sector more than 
halved between 2000 and 2020. In 2020, hydrocarbon sector, although remains the major source 
of government revenue, only acc ounts for 18.6% of GDP, compared to 43.6% in 2000. All the other 
sectors with the exception of real estate have shown an increasing contribution to Bahrain's GDP. 
Among them, the services sector, particularly financial services, has become the main pillar of the 
economy, accounting for 58.3% of GDP in 2020. The services sector has continued to expand, 
supported by a substantial financial services segment. The manufacturing sector dominated by 
production of aluminum and petrochemicals accounted for 14.2% of GDP in 2020.   
3.9.  It is encouraging that Bahrain posted positive annual real GDP growth over the period 2014 -19, 
largely supported by growth in the non -oil sectors. Although the economy contracted by about 5.1% 
in 2020 due to the COVID -19 pandemic and falling  oil prices, economic recovery is expected in 2021, 
with annual real GDP growth estimated at 3.1%, and at 2 % to 2.5% in the medium term, thanks to 
continued government expenditure on infrastructure and its related impact on the non -oil sectors.  
3.10.   Third, Bahr ain has a long -standing tradition of openness, freedom,  and transparency. It serves 
as one of the most attractive, friendly,  and worthwhile business destinations in the region.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 10 - 
 
  3.11.   Bahrain's economy remains highly dependent on trade. The ratio of trade to GDP  fluctuated 
over the review period, peaking at 175.9% in 2014 and was at a low of 136.2% in 2020.  
3.12.   Bahrain's MFN tariff on imports is relatively low and has continued to decrease during the 
review period. Its simple average applied MFN tariff rate was 4.7%  in 2021, down from 5.1% in 
2013. The share of duty -free lines slightly increased from 11.1% in 2013 to 11.7% in 2021.  
3.13.   Bahrain has a low -tax environment. Most companies are not subject to a corporate tax, a 
46% tax is levied only on companies in the oil and gas sectors and those that generate profits from 
hydrocarbon extraction or refinement. Bahrain imposes no taxes on personal income.  
3.14.   Bahrain continued to improve its investment regime during the review period.  In 2016, it 
implemented an online commercial registry system (SIJILAT) to simplify business registration, 
streamline licensing requirements, and ensure coordination between relevant agencies. Since 2015, 
foreign entities have been allowed to invest in res tricted or prohibited activities, if the authorities 
determine that granting such exceptions shall have a strategic economic significance or a profitable 
return for Bahrain's economy. In 2018, foreign ownership restrictions were removed on 62  business 
activities. Steps were also taken in 2021 to further facilitate foreign participation in some of the 
selected economic activities where foreign access remains prohibited.  
3.15.   New trade facilitation initiatives were developed during the review period, including Ba hrain's 
implementation of the GCC unified guide on advance rulings, the launch of a remote customs 
clearance service, and the introduction of an authorized economic operator scheme and other 
schemes giving facilitated access for trusted operators. Reported ly, around 90% of goods are 
released without inspection, typically the same day. The cost of running a business in Bahrain is 
approximately 30% lower than other regional centers.  
3.16.   Fourth, Bahrain is a strong supporter of the rules -based multilateral trading system.  
3.17.   Bahrain is an original Member of the WTO, a signatory to the WTO Information Technology 
Agreement (ITA) and one of the first group Members of the WTO, which ratified the  Trade Facilitation 
Agreement (TFA). Furthermore, Bahrain must be commended for its sterling efforts in implementing 
100% of its commitments under the Trade Facilitation Agreement, two years ahead of schedule. On 
9 December  2008, Bahrain became an Observer  to the plurilateral WTO Agreement on Government 
Procurement. It actively participates in Joint Statement Initiatives on E-Commerce; Investment 
Facilitation for Development; and MSMES.  
3.18.   Fifth, Bahrain is strongly committed to increasing its regional integr ation in the GCC Customs 
Union. Its economic policies are very much influenced by gradually harmonization with other GCC 
members.  
3.19.   The main destinations for Bahrain's exports and sources of imports are other GCC member 
States, mainly the United  Arab Emirate s and the Kingdom  of Saudi  Arabia.  
3.20.   Since January  2003, the GCC member States have been applying a common external tariff of 
0% and 5% to most products imported from third  countries, and a common law on customs 
procedures and valuation. The GCC has common t rade-related legislation on customs, contingency 
measures veterinary quarantine and plant quarantine, and trademarks. Under the GCC Agreement, 
each member State maintains its own list of restricted and prohibited items. Launched in 2003, the 
GCC Customs Un ion was finalized in January  2015, and the unified guides for customs procedures 
and advance rulings have been released.   
3.21.   Last but not least, please allow me to touch upon some of the challenges that exist for the 
country's long -term resilience, apart fro m the continued diversification of its economy from 
hydrocarbons.  
3.22.   Having relatively small populations in the face of the large demand for workforce, Bahrain's 
workforce is characterized by a high degree of foreign labor on which the economy is heavily rel iant, 
around 74.8% of the workforce. Bahrain will still need the support of foreign workers to sustain its 
endeavors for further development. It is positive that Bahrain continues to improve its labor market WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 11 - 
 
  conditions, including the amendments of its Labo r Law and the introduction of wage protection 
scheme.  
3.23.   The narrow economic, export and fiscal base also expose Bahrain to vulnerability. Bahrain is 
facing an elevated fiscal deficit and high levels of public debt. Since the last Review, Bahrain's fiscal 
position has been consistently in deficit. In 2020, Central government debt reached 115% of GDP, 
a significant increase compared with 44% in late 2014. Mining, mainly petroleum products accounts 
for the bulk of merchandise exports, 76.1% of the value of expo rts in 2020. Moreover, Bahrain 
continues to rely on imports to meet its domestic demand for most agricultural products, despite 
the Government's efforts to promote the sector.  
3.24.   As the Secretariat Report mentioned, the COVID -19 pandemic and the measures ado pted by 
Bahrain to help mitigate its impact, including the USD  12 billion economic stimulus package, are 
likely to delay the success of Bahrain's macroeconomic stabilization reforms.  
3.25.   Members have showed a high degree of interest in Bahrain's trade policies . More than 
140 questions have been submitted to date.   
3.26.   Members are interested in Bahrain's development of a digital economy, an area that is worth 
our attention. As highlighted by the Secretariat report, the past few years have been marked as the 
most de finitive chapter yet in Bahrain's journey to becoming a fully -fledged digital economy, as it 
has continued to invest in its world class ICT infrastructure and pioneers' regulations that nurture 
innovation and is seeing digital transformation of key sectors  across the board.  
3.27.   Members are also concerned about Bahrain's export promotion measures, its notification on 
SOEs, non -preferential rules of origin, and its IPR protection etc. The latest development in various 
sectors, particularly energy and metal indust ries, financial services, transport services, 
telecommunications also attract members' attention. I encourage Bahrain to engage with Members 
on these issue during this review.   
3.28.   To conclude my statement as the discussant, allow me to express my confidence that, as 
Bahrain strides towards achieving its economic Vision 2030, Bahrain will be able to achieve their 
long-term visions towards a globally competitive, productive, sustainable, diversified , and 
knowledge -based economy and achieve the shared goal of building a better life for every Bahraini. 
I hope the discussions and recommendations expressed by Members in the course of this Review 
can contribute to this process.  
3.29.   I wish H.E.  Mr Zayed bin Ra shid Al Zayani and his distinguished delegation a successful Trade 
Policy Review.  
  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 12 - 
 
  4  STATEMENTS BY MEMBERS  
KINGDOM  OF SAUDI  ARABIA  ON BEHALF  OF THE ARAB  GROUP  
4.1.  On behalf of the Arab  Group, I would like to extend a very warm welcome to the distinguished 
deleg ation of the Kingdom  of Bahrain headed by H.E.  Mr Zayed bin Rashid Al Zayani, Minister of 
Industry Commerce and Tourism.  
4.2.  The Arab Group wishes to thank the brothers in Bahrain and the WTO Secretariat for their 
detailed and comprehensive Trade Policy Review  reports. We also thank the discussant 
H.E. Mr Li Chenggang Ambassador and Permanent Representative of China to the WTO for his 
insightful remarks.  
4.3.  The Kingdom  of Bahrain, like the rest of the world economies, has been facing the challenges 
caused by the COVID -19 pandemic. These challenges are being addressed by adopted some 
measures to mitigate the pandemic 's impact on the economy, and to accelerate the economic 
recovery which is expected to grow by 3.1% in 2021.  
4.4.  The Arab Group would like to commend B ahrain for its diversification efforts under Bahrain 's 
Vision  2030, for improved its investment regime, for introduced a law on Competition Promotion in 
2018, for taken steps to promote the fintech industry.  
4.5.  We congratulate Bahrain for implementing 100% of  its commitments under the Trade 
Facilitation Agreement, for being an active member in the multilateral trading system including its 
participations in various discussions of the WTO.  
4.6.  Before I conclude, I would like to say a few words on behalf of Saudi  Arabia. Saudi  Arabia and 
Bahrain are not only neighbours enjoying brotherly outstanding relations supported by shared 
membership in the GCC, Arab league, and OIC, but they are prominent trading partners. Trade 
exchange between the two  countries excee ded SAR 24 billion  in 2020, which ranked them amongst 
each other 's main trading partners. Moreover, Saudi -Bahraini Joint Business Council remains very 
active in paving the way for closer economic ties to strengthen trade cooperation and to enhance 
business  opportunities in the two  Kingdoms.  
4.7.  At the end, I would like to thank H.E.  Dr Yusuf B ucheeri , Ambassador and Permanent 
Representative of the Kingdom  of Bahrain to the WTO , and his distinguished team for their great 
efforts as a Coordinator this year for th e States of the Gulf Cooperation Council (GCC) which serve 
the interests of the GCC member states.  To conclude, we wish our brothers in Bahrain a very 
successful Trade Policy Review.  
KINGDOM  OF SAUDI  ARABIA  ON BEHALF  OF THE GULF  COOPERATION  COUNCIL  (GCC)  
4.8.  We are delighted to see all the positive transformations and economic growth mentioned in 
both reports. This of course comes after the global economy has faced many challenges during the 
review period, not least in light of the global pandemic, to which the  Kingdom  of Bahrain 
commendably responded through the establishment of a National Taskforce and the introduction of 
an economic stimulus package consisting of various support initiatives.  
4.9.  We are pleased that the report shows the various efforts undertaken by the 
Kingdom of Bahrain, under its ambitious Vision  2030 development strategy, in advancing the 
country's economic development and diversification agenda , including, among other things, a 
notable increase of non -oil exports at a 4.6% average annual growth rate duri ng the last decade, 
with the contribution of non -oil exports to total exports increasing from 27% to 53% during the 
same period.  
4.10.   Looking forward, we view great interest and opportunity in investment in the 
Kingdom  of Bahrain and its potential for attractin g Foreign Direct Investment to our region. As the 
report shows, the investment regime is a priority area for the Kingdom 's economic development as 
Bahrain maintains a free market economy, with no restrictions on capital movements, foreign 
exchange, foreign  trade, or foreign investment. To this end, the Kingdom  of Bahrain continues to WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 13 - 
 
  enhance its investment ecosystem by implementing legislative and policy reforms to maintain the 
Kingdom 's position at the forefront of enabling a digital economy.  
4.11.   I cannot conc lude this statement without highlighting the Kingdom  of Bahrain 's role as both 
a founding and long -standing strong supporter of the WTO and the multilateral trading system which 
it nurtures. During the period under review, the Kingdom  of Bahrain deepened i ts active participation 
and enhanced its engagement at the WTO Councils and Committees , thereby attesting to its full 
support and belief in the effectiveness of an open and rules -based multilateral trading system in 
contributing to global economic developm ent and prosperity.  
4.12.   Finally, we would like to thank the discussant for his remarks and active discussion and the 
WTO Secretariat for their efforts in preparing the detailed reports and we wish the 
Kingdom  of Bahrain every success in its Trade Policy Review . 
UNITED  STATES  
4.13.   The United  States and Bahrain enjoy a constructive bilateral relationship, with cooperation 
spanning many of the economic and security issues confronting the Middle  East and the world.  On 
the commercial front, bilateral trade continues to expand, and as we implement our comprehensive 
bilateral Free Trade Agreement (FTA), we look forward to continued engagement on trade issues.  
The U S-Bahrain FTA eliminated tariffs and other barriers on substantially all goods and services 
trade, thereby promoting economic growth and additional commercial opportunities.  In 2020, the 
value of U S goods imports from Bahrain was US D 636 million, with the top import categories in 
aluminum at USD 357 million, mineral fuels at USD 66 million, textile articles at USD 61 million, and 
plastics at USD 31 million.  
4.14.   We hope that Bahrain will find this review to be useful as the country continues to open its 
markets for global trade.  The United States has submitted a number of questions to better 
understand B ahrain 's processes and mechanisms, and we look forward to reviewing Bahrain 's 
responses to our written questions.  
4.15.   For example, the United  States understands that Bahrain and the other Gulf Cooperation 
Council (GCC) member State Governments are currently co nsidering revisions to the excise tax on 
beverages.  We and other WTO Members have raised concerns in several fora about the 
implementation of this tax, and we have asked for an opportunity to consult on necessary revisions, 
including switching to a graduat ed tax based on total sugar content , whether from either naturally 
occurring and/or added sugars , exempting beverages with no added sugar and low caloric beverages 
from the tax, and ensuring that there is no discrimination between energy drinks and other 
beverages currently covered that have similar amounts of sugar.  
4.16.   We remain particularly interested in the timeline to inform private industry, governments, and 
other interested parties about the study currently underway on a new excise tax model and Bahrain 's 
formal mechanism for consulting with interested parties regarding the selective tax, particularly in 
advance of any final decisions.  We note differences among the GCC member State Governments in 
their implementation of the selective tax, and look forwar d to working with Bahrain work with the 
other GCC member state governments to ensure that any amendments to the Unified Excise Tax 
Treaty for the GCC address the issue of consistent implementation.  
4.17.   In addition, we submitted questions regarding implementati on of a recent regulation affecting 
energy drinks as well as a range of other products, sections of which we request that Bahrain notify 
in accordance with the Agreement on Technical Barriers to Trade.  
4.18.   The United States has also raised detailed questions r egarding the status of establishing 
Collective Management Organizations and the status of notification of programs to the WTO 
Committee on Subsidies and Countervailing Measures.  
4.19.   We also call on Bahrain to no longer seek special and differential treatment i n current and 
future WTO negotiations. By taking this step, Bahrain would make a significant contribution to 
ensuring that the WTO remains a viable forum for meaningful trade negotiations.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 14 - 
 
  4.20.   The United  States greatly appreciates the opportunity to participat e in this TPR review and 
looks forward to continuing our work with Bahrain, and our trading partners, to strengthen the global 
economy and the multilateral trading system embodied by the WTO, allowing trade and investment 
opportunities to expand.  
CANADA  
4.21.   Canada joins other WTO Members in welcoming H .E. Mr Zayed bin Rashid Al Zayani and the 
other members of the delegation from Bahrain. We are pleased to participate in the fourth  Trade 
Policy Review of Bahrain. We thank the Government of Bahrain and the Secr etariat for their reports.  
4.22.   At the outset, I would like to congratulate Bahrain for the continued improvement of its trade 
and investment regime during the review period, and for being an active participant in the 
multilateral trading system. I note ratific ation by Bahrain of the WTO Trade Facilitation Agreement 
in September  2016, and its implementation, two  years ahead of schedule.  
4.23.   Congratulations also for your continued implementation of Bahrain 's "Vision  2030" agenda.  
I note that within this framework, Bahrain has made progress on supporting an enabling 
environment for sustainable development. I am particularly pleased to note the goal of supporting 
creativity, excellence, and highlighting the role of women and SMEs in the economy in all government 
progr ams and initiatives.  
4.24.   On the regional front, we commend Bahrain and all Gulf Cooperation Council members for 
efforts to reinforce collaboration and improve trade dynamics among GCC States. Canada will follow 
with interest the further development of trade r elations between the GCC and its international 
partners, and I would be grateful to learn more about Bahrain 's views on the future steps for 
GCC-level trade policy engagement.  
4.25.   We welcome Bahrain 's participation as an observer to the WTO Agreement on Gover nment 
Procurement. Canada is a strong supporter of the WTO GPA and is committed to improve and secure 
government procurement market access globally. I am pleased to note improvements to Bahrain 's 
government procurement regime through the Bahrain Tender Boa rd and would encourage Bahrain 
to consider acceding to the WTO Government Procurement Agreement.  
4.26.   We also value Bahrain 's participation in the Joint Statement Initiative on Investment 
Facilitation for Development and the informal Micro, Small , and Medium -sized Enterprises working 
group. I invite Bahrain to consider joining the JSI on Services Domestic Regulation. In addition, 
I also encourage Bahrain to consider supporting the Buenos Aires Declaration on Trade and Women's 
Economic Empowerment and participat ing in the Trade and Environmental Sustainability Structured 
Discussions.  
4.27.   On the dispute settlement front, I invite Bahrain to consider joining the Multi -Party Appeal 
Arbitration Arrangement that provides access to binding dispute settlement and appellate review to 
its participants. In relation to the WTO 's deliberative function, Canada appreciates the very good 
notification record of Bahrain over the review period.  
4.28.   We compliment Bahrain for recent improvements in its business and foreign investment 
environment, including those related to obtaining construction permits; registering property; 
obtaining credit; paying taxes; protecting minority investors; trading across borders; enforcing 
contracts; and resolving insolvency.  
4.29.   Canadian business es see significant opportunities in Bahrain that match Canadian capabilities, 
including in the fields of energy, infrastructure, transportation,  and clean technology. These are 
sectors where Canadian expertise can help meet Bahrain 's needs and objectives for a more efficient 
and greener economy.  
4.30.   To facilitate this, it is important for Bahrain to continue to maintain an open, fair, and 
transparent business environment to attract Canadian and other businesses and expertise to further 
grow your economy and reinforce your role as a regional economic hub.   WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 15 - 
 
  4.31.   We have submitted a number of questions on the themes I have touched on, and other issues. 
We thank Bahrain for your responses, which we will carefully review. We look forward to a 
constructive exchange of views on all aspects of Bahrain 's trade policy.  
SINGAPORE  
4.32.   Let me begin by conveying my warm greetings and appreciation to Minister of Industry 
Commerce and Tourism , Mr Zayed  bin Rashid Al Zayani  and his delegation. We thank the 
Kingdo m of Bahrain for its comprehensive Government Report and Statement. We also thank the 
Chair Ambassador  Athaliah Molokomme, discussant Ambassador  Li Chenggang (China), as well as 
the Secretariat for their insightful reports and statements. Allow me to make three  points.  
4.33.   First, Singapore and Bahrain enjoy a multifaceted relationship. Singapore and Bahrain share 
many similarities. As small island states with long trading traditions, we face common interests and 
challenges, which have promoted close cooperation  in various fields including renewable energy, 
defence, entrepreneurship, banking, tourism, education, cultural , and sports. This relationship has 
been nurtured by healthy exchanges of high -level visits and regular meetings between our officials 
to share e xperiences and best practices with each other. For example, Singapore has been an active 
participant of the Manama Dialogue since its inception in 2004, and Bahrain 's premier World Islamic 
Banking Conference since 2008.  
4.34.   In the economic sphere, we have als o deepened our partnership through several trade 
facilitative agreements, including the Avoidance of Double Taxation Agreement (DTA), Investment 
Guarantee Agreement, and the Gulf Cooperation Council (GCC) –Singapore Free Trade Agreement 
(GSFTA). Both Singap ore and Bahrain also serve as gateways for our companies to establish their 
presence in our respective regions.  
4.35.   Despite the COVID -19 pandemic, bilateral trade in goods grew by approximately 
USD 25 million to around US D 274 million in 2020. According to th e Bahraini government report, 
Singapore is among the top three  destination for its re -exports in the past two  quarters of 2021, 
amounting to around US D 66 million. As of 2019, Singapore has invested in approximately 
USD 441 million worth of projects in Bahrain while Singapore receives US D 3.5 billion foreign direct 
investment (FDI) from Bahrain.   
4.36.   Second, both Singapore and Bahrain attach great importance to economic diversification as a 
key pillar of our economic strategy. Singapore commends  Bahrain 's efforts to diversify the country 's 
oil-based economy so that it could become globally competitive and productive through the Bahrain 
Economic Vision  2030. The structure of the Bahraini economy has been transformed by a rapid 
process of economic diversification since the turn of the century. Bahrain has successfully halved 
the share of the oil sector 's contribution to its GDP between 2000 and 2020. In fact, the contribution 
of non -oil sectors has grown and currently contributed 81.4% of its GDP in  2020.  
4.37.   Singapore and Bahrain have also embraced digital transformation of both the public and 
private sectors, including our established financial sectors. Singapore looks forward to continuing 
our collaboration with Bahrain in these emerging areas, especi ally as we embark on post -pandemic 
recovery. With that view, we have submitted questions relating to Bahrain 's FinHub  973 and 
regulatory sandbox for FinTech firms and start -ups, among other questions.  
4.38.   Third, on the multilateral front, Bahrain has been a st eadfast supporter of the WTO and was 
one of its founding Members. We are pleased to note that Bahrain was the one of the first  Members 
to ratify the WTO Trade Facilitation Agreement (TFA) and is fully applying the TFA two years ahead 
of their notified time line.  
4.39.   Singapore also welcome Bahrain 's participation in the various Joint Statement Initiatives 
(JSIs), including the JSIs on E -Commerce and Investment Facilitation for Development. Bahrain 's 
continued support for the JSIs reflects its progressive trade p olicy and contribution to ensure that 
the WTO remains relevant. In this connection, we want to encourage Bahrain to join the JSI on 
Services Domestic Regulation. Additionally, given the importance of establishing open, fair and 
transparent conditions of co mpetition in government procurement processes, Singapore would 
encourage Bahrain to consider elevating its status as an observer to become a party to the 
Government Procurement Agreement (GPA). We believe that these will spur further growth for WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 16 - 
 
  Bahrain 's small and medium enterprises (SMEs) and support the successful implementation of the 
Vision  2030 plan.  
4.40.   Singapore looks forward to working closely with the Bahrain Mission to the WTO, which is ably 
led by Ambassador  Yusuf Abdul Karim Bucheeri. I wish Bahrain  every success for its fourth  TPR.  
BRAZIL  
4.41.   Brazil would like to thank the Kingdom  of Bahrain and the Bahraini Mission to the WTO, 
represented by Permanent Representative Yusuf Abdulkarim Mohammed Bucheeri, for engaging in 
Bahrein 's fourth  Trade Policy Review and providing Members with an overview of the country 's 
economic performance and adherence to the multilateral trading system.  
4.42.   We would like to express our appreciation to the WT O Secretariat for its thorough and 
comprehensive report, as well  as to the Chair, Ambassador  Dr Athaliah Lesiba Molokomme 
(Botswana), and the discussant, Ambassador  Chenggang Li (China), for their contribution to this 
crucial exercise on transparency.  
4.43.   The Kingdom  of Bahrain is an important partner of Brazil. Last week,  President  Jair Bolsonaro 
visited Manama to strengthen ties between our nations. Brazil is in the process of establishing an 
embassy in the Bahraini capital and sees this as an important step for expanded bilateral relations.  
4.44.   Our two  countries enjoy a gro wing economic relationship. Trade flows between Brazil and the 
Kingdom  of Bahrain increased by over 100% between 2015 and 2020, despite the effects of the 
worldwide pandemic in the latter year.  
4.45.   We are proud to supply Bahrain with vital products for  their e conomy and their food security, 
such as iron ore and poultry. Meanwhile, Bahrain is an important source of inputs for our agribusiness 
and our industry.  
4.46.   With a view to expanding and diversifying the bilateral trade agenda, it is essential to advance 
negoti ations for sanitary and phytosanitary certification. We have proposed to the Bahraini 
authorities the Brazilian model of International Health Certificate (CSI) to support the export of beef 
and meat products and we expect progress will be achieved in this area. 
4.47.   In investments, we see a broad range of opportunities that we have yet to harness. We have 
a specific interest in deepening investments on oil, gas, tourism, housing , and construction, which 
could be facilitated with the Brazilian model of the Cooper ation and Facilitation Investment 
Agreement. Brazil is ready to engage in bilateral negotiations to achieve this goal.  
4.48.   The COVID -19 crisis had a major impact on both the  world and the Bahraini economy. Falling 
oil prices were a substantial factor leading t o a 5 .1% decline of the Bahraini GDP in 2020. We are 
pleased to see  that the economy is ready to bounce back, with a 3.1% growth estimate in the current 
year. 
4.49.   We highlight  Bahrain 's high level of engagement with the Trade Facilitation Agreement, 
including total implementation of their commitments two years ahead of the planned timeline. Other 
positive developments during the review period were new investment and business legislation, such 
as the 2020 Decree -Law on the fight against money laundering and the combat of terrorism 
financing; the 2018 Decree on bankruptcy, which boosts transparency and efficiency in the 
insolvency process; and the 2017 Order that provides start -ups with a supportive environment.  
4.50.   Let me conclude by wishing the Kingdom  of Bahrain a very successful and productive Trade 
Policy Review.  
EUROPEAN  UNION  
4.51.   On behalf of the EU, I would first like to welcome the Delegation of Bahrain, led by 
H.E. Mr Zayed bin Rashid Al Zayani , Minister of Industry, Commerce and Tourism. I would also like WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 17 - 
 
  to thank the WTO Secretariat and the Delegation of Bahrain for their reports and the Discussant 
H.E. Mr Li Chenggang , Ambassador of China , for his remarks.  
4.52.   Chair, his is the fourth  review for Ba hrain and I would like start by noting that in our 
assessment the country is moving in the right direction.  
4.53.   At the multilateral level, the EU commends Bahrain on the implementation of all of its 
commitments under the Trade Facilitation Agreement. Bahrain has submitted various notifications 
to the WTO during the review period, nevertheless, notifications on, inter alia, state trading 
enterprises and subsidies remain outstanding. Keeping in mind the timing of this TPR, the EU would 
like to stress the need to  achieve concrete results at the WTO 's 12th Ministerial Conference next 
week to show that the WTO can deliver results on the economic recovery from the pandemic, trade 
and health and sustainability in the area of fisheries.  
4.54.   While we welcome Bahrain 's part icipation in the Joint Statement Initiatives on E-Commerce, 
Investment Facilitation for Development and MSMEs, we encourage Bahrain to join the group of 
WTO Members that are committed to bringing the Joint Initiative on Services Domestic Regulation 
to a su ccessful conclusion at the MC12. This initiative is of great importance to the service suppliers 
across the world and will assist in their recovery from the pandemic. We also call for Bahrain 's 
cooperation in the WTO reform discussions, which are essential  to setting the WTO on the path to 
manage effectively the challenges of the 21st century and  invite Bahrain to join the MPIA.  
4.55.   The bilateral relationship between the EU and Bahrain is on a good track. The EU and Bahrain 
signed a Cooperation Arrangement to e nhance dialogue in areas of common interest, including on 
trade, investment,  and economic cooperation in general.  
4.56.   The EU remains a very important trading and investment partner for Bahrain. In 2020, the 
EU was the second trading partner for Bahrain . Also, bilateral investment relations have developed 
considerably . 
4.57.   Since the last review in 2014 , and similarly to the other GCC countries , Bahrain 's economy 
has been negatively impacted by the effects of the global pandemic and the steep fall in prices on 
the international energy markets, since Bahrain 's economy, industrial output and trade remain to a 
significant extent reliant on the energy sector and hydrocarbons ' production. It is therefore 
reassuring to note that Bahrain is aware of the need to reduce this high dependence on the energy 
sector and is implementing specific steps to diversify its economy under a long -term development 
strategy.  
4.58.   In order to support this process, the EU in 2019 – alongside of our GCC partners – has initiated 
the "EU-GCC Econo mic Diversification Project ". This project is ongoing and aims at supporting the 
economic diversification the Gulf economies, involving stakeholders from both the private and public 
sector in areas of standards, investment promotion, and intellectual prope rty rights ' protection as 
well as new emerging areas such as circular economy, digitalization,  and connectivity.  
4.59.   As part of this project in the context of the ongoing Expo Dubai several significant events have 
been organized, including a conference on the  participation of women in the technology sectors and 
a high -level EU -GCC Business Forum, focussing on economic diversification.  We welcome Bahrain 's 
active engagement in this project. The EU is of the view that these exchanges will contribute to 
helping the country in upgrading its economy in the coming years by making it more sustainable 
and knowledge based .  
4.60.   Despite of these positive developments, the EU has some questions and concerns regarding 
the trade and investment policies in Bahrain. We would lik e to reiterate our concerns voiced in the 
Council for Trade in Goods, the Market Access Committee as well in bilateral contacts with Bahrain 
in relation to the GCC "Treaty on Excise Tax " of December  2016. The EU would like to stress again 
the importance of  harmonizing the implementation of the Excise Tax Law and the need for a close 
engagement with private industry stakeholders to revise the tax.  
4.61.   The EU is confident that this TPR will help Bahrain in reviewing important policy areas that 
are key in attainin g the country 's economic objectives. Let me conclude by recalling that the EU is 
looking forward to Bahrain 's responses to the questions we have put forward today and others that WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 18 - 
 
  we have previously submitted in writing. On behalf of the EU, I wish Bahrain a very productive and 
successful review.  
ISRAEL  
4.62.   Israel would like to thank you, the discussant, H.E.  Mr LI Chenggang, the Kingdom  of Bahrain, 
and the Secretariat for the detailed reports. Israel also welcomes H.E.  Mr Zayed bin Rashid Al Zayani, 
Minister of Industry, Commerce and Tourism as the Head of Bahraini Delegation to its fourth  TPR. 
Israel warmly welcomes Bahrain on the occasion of this TPR and congratulates it for the work 
invested in the preparations of this r eport.  
4.63.   We are very happy to note that the collaboration between our countries have strengthened 
significantly since the historic establishment of diplomatic relations on  15 September  2020.  
4.64.   Following a formal visit by the Minister of Industry, Commerce, and  Tourism H.E.  Zayed bin 
Rashid Al Zayani during December  2020, we witnessed the joint signature of a Memorandum of 
Understandings between our countries concerning innovation, small and medium enterprises, and 
standards.  This opens the way for new and promi sing channels of collaboration on Trade.  
4.65.   Already in this first  full year after the signing of the agreement we have seen a very promising 
beginning, and there is a great deal of interest in fostering and benefiting from these new open 
channels that run dee p and across all sectors. There are immense opportunities to develop ties 
further, not only in business and trade, but also across culture, sports, technology, and tourism.  
4.66.   In this session, I will focus on trade. Already in this past year, total trade amou nted to nearly 
USD 1 million  and we see great potential for further significant growth in the immediate future.  
4.67.   The sectors of interest for Israel in Bahrain include finance, cyber, tourism and technology as 
well as know -how in such fields as energy, food,  and water security, agriculture, and health services.  
4.68.   Like Israel, Bahrain 's economy is highly dependent on trade, which is evident from Bahrain 's 
ratio of trade in goods and services to GDP fluctuating above 136% in 2020. Additionally, Bahrain 's 
services  sector follows a similar path as Israel 's, with an upward direction in the export of services.  
4.69.   Regarding the economic ramifications of the COVID -19 pandemic, Bahrain 's economy 
contracted by around 5.1% during the last year, mainly due to the COVID -19 pan demic and falling 
oil prices. However, the good news is that economic recovery is expected in 2021, with annual 
real GDP growth estimated at 3.1%, and then stabilize somewhere between 2%  to 2.5% over the 
next four  years, largely due to continued government  expenditure on infrastructure and its related 
impact on the non -oil sector. Israel looks forward to continuing its share of trade to this economic 
recovery.  
4.70.   At the WTO, Israel is looking forward to an increased engagement with Bahrain. Both our 
nations pa rticipate in initiatives, such as the JSI on E-Commerce. We look forward to capitalizing on 
the work done at the Ministerial Conference and charting our continued efforts post MC12.  
4.71.   During this TPR, Israel submitted questions to Bahrain, and awaits Bahrain 's reply. The areas 
of interest for Israel include customs and border procedures.  
4.72.   As we are nearing MC12, Israel looks forward to seeing Bahrain 's contributions and 
constructive role towards a successful Ministerial, which is just days away.  
4.73.   Finally, Israel looks forward to strengthening our close collaboration with the Bahra ini 
delegation headed by Ambassador H.E.  Dr Yusuf Abdulkarim Mohammed Bucheeri.  Israel wishes 
Bahrain a very successful TPR.  
INDIA  
4.74.   Let me begin by extending a warm welcome  to the delegation of Bahrain led by H.E.  Mr Zayed 
bin Rashid Al Zayani , Minister of Industry Commerce and Tourism. India is pleased to be a part of WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 19 - 
 
  the Trade Policy Review of Bahrain today. My delegation would further, like to commend the 
Government of Ba hrain, the delegation in Geneva led by H.E.  Dr Yousuf Abdulkarim Bucheeri, 
Permanent Representative  and Ambassador of the Kingdom  of Bahrain as well as the WTO 
Secretariat for their comprehensive reports. I would also thank the discussant H.E.  Mr Li Chengg ang 
of China for his insightful remarks.  
4.75.   India, and Bahrain enjoy excellent bilateral relations characterized by cordial political, 
economic, cultural , and civilisational linkages. And this year India and Bahrain are celebrating the 
golden jubilee of our diplomatic relations. These ties got further strengthened during the state visit 
of Indian Prime Minister to the Kingdom  of Bahrain in August  2019. This  visit holds great significance 
as this was the first  ever visit by an Indian Prime  Minister to the Kingdom  of Bahrain. The visit 
provided renewed energy and vigour to various facets of our bilateral relations. As a gesture of our 
collaboration India share d 100,000  vaccine doses with Bahrain and both sides have agreed to 
continue collaboration to combat the pandemic.  
4.76.   The excellent economic and trade relations between our two countries have received a fresh 
impetus since the oil boom of the early seventies.  Bahrain 's strategic location makes it the gateway 
to the Gulf Cooperation Council Market worth USD  1.5 trillion. This advantage coupled with Bahrain 's 
policy of industrial diversification played an important role in enhancing economic cooperation 
between India and Bahrain.  
4.77.   New job opportunities have attracted many Indian expatriates to Bahrain. India is among the 
top 10  trading partners of Bahrain, an d since the past couple of years, bilateral trade is in the range 
of USD  1 billion with a dip only in 2019 -2020 where it was  USD 980.59  billion. Bilateral investments 
have increased from both sides in the recent times. With a cumulative investment of 
USD 1.2-1.3 billion, India is the 6th largest investor in Bahrain.  
4.78.   Chair, we note with appreciation the report provided by the Secretariat for this TPR. India 
commends the measures taken by Bahrain to make a business and investment friendly environment 
and tr ansform into a competitive and open economy by integrating into the multilateral trading 
system. While the hydrocarbon sector is an important component of the economy of Bahrain, we 
appreciate the country's commitment to diversify into other sectors to red uce the dependence on oil 
sectors. We therefore appreciate the rapid strides made by Bahrain in diversifying into both services 
and manufacturing sectors overcoming the constraints in terms of its limited population and 
geographical size. As a result, the services sector has become the backbone of the economy, 
accounting for nearly 60% of real GDP in 2020 making it a service -based economy.  
4.79.   The long -term development strategy elucidated by the Economic Vision  2030 accompanied by 
the five -year plans through l iberalization, diversification and privatization have helped in the robust 
economic growth and played an important role in guiding the day -to-day policy making of the 
Government. We note with interest the steps taken by Bahrain in trade facilitation where it is 
reported that Bahrain has implemented 100% of its commitments under the Trade Facilitation 
Agreement, ahead of schedule.  
4.80.   We would like to thank Bahrain for their replies to the various questions posed by my 
delegation that will be studied carefully b y my capital.  We look forward to working with Bahrain in 
further expanding and fostering our trade and investment ties for our mutual benefit. We wish the 
delegation of Bahrain a productive and successful Trade Policy Review.  
THAILAND  
4.81.   Thailand is delighted  to participate in the fourth  Trade Policy Review of the 
Kingdom  of Bahrain. We wish to extend our warm welcome to the delegation of the 
Kingdom  of Bahrain led by H.E.  Mr Zayed bin Rashid Al Zayani, Minister of Industry Commerce and 
Tourism.  
4.82.   We would like to thank Ambassador  Dr Athaliah Lesiba M olokomme  of Botswana for your 
leadership as the Chair and Ambassador Li Chenggang of China, for his insightful comments as 
Discussant. We also thank the Government of the Kingdom  of Bahrain and the WTO Secretari at for 
their useful and comprehensive reports.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 20 - 
 
  4.83.   Thailand and Bahrain have had a long -standing relationship since 1977 and we were delighted 
to celebrate the 44th anniversary of diplomatic relations between Thailand and Bahrain in 2021.  
4.84.   The bilateral economi c relations and cooperation between Thailand and Bahrain have 
expanded steadily in many areas such as healthcare, trade and investment, food safety, energy , 
and technology. Thailand and Bahrain have expressed an interest to work together to promote 
contrac t farming and also reached an agreement to establish a distribution center of Thailand 's 
products in the Cooperation Council for the Arab States of the Gulf or the GCC markets.  
4.85.   Bahrain is an important trading partner of Thailand. In terms of merchandise tr ade, in the 
past five  years, the average total trade value between the two  countries amounted to approximately 
USD 377.40  million  per year and has grown by 6.46% for the first  seven  months of 2021. The top 
exported goods from Bahrain to Thailand are petrol eum oils, aluminium, fertilizer, and methyl 
alcohol, whilst Bahrain primarily imports motor cars and motor vehicles, parts of  machinery and 
laboratory equipment from Thailand. We hope that the two  countries could strive for a higher 
bilateral trade exchang e in the future.  
4.86.   Due to its strategic location in the Persian Gulf, Bahrain has a very high potential to become 
trade and business hub in the GCC. Thailand welcomes Bahrain 's economic Vision 2030 and the 
2019-2022 Four -Year Government Plans which aim to ac hieve economic growth, financial stability, 
and sustainable development for the country by 2030. We also welcome Bahrain 's efforts to reform, 
support, and diversify her economy into wider range of manufactured goods and services, especially 
towards the tou rism sector.  
4.87.   In this review, Thailand has submitted a number of questions on various areas of Bahrain's 
trade and economic policy, and we thank Bahrain for responding to our questions and look forward 
to thoroughly reviewing them.  
4.88.   Lastly, Thailand appreciates the leadership of Ambassador  Dr Yusuf Abdul karim Bucheeri. 
We look forward to enhancing our cooperation with the Mission of the Kingdom  of Bahrain to advance 
our mutual interest and strengthen our partnership at all levels. Thailand wishes Bahr ain a successful 
Trade Policy Review.  
ICELAND  
4.89.   Iceland joins others in welcoming the distinguished delegation of Bahrain to their Trade Policy 
Review . We also express appreciation to the WTO Secretariat and Bahrain for the reports prepared, 
as well as to th e discussant  for the excellent framing of the issues for our discussion today.  
4.90.   First, I would like to mention the Free Trade Agreement between the GCC and the EFTA 
countries, which has served our countries well. It covers broad range  of areas  including tra de in 
goods, trade in services, competition, and government procurement.  
4.91.   During the period of 2014 -19 Bahrain experienced a positive GDP growth but has since then 
being affected by low oil prices and the current health crisis.  
4.92.   Iceland welcomes to learn th at action plans to implement Bahrain's "Vision  2030" include 
actions on initiatives supporting gender equality. Further, Iceland welcomes the information provided 
on the TPR report on special measures on specific measure in assisting women launching their own 
start-ups, or developing existing ones, as well as information on legislation on  equal wages for 
women and man.  
4.93.   The impact of the health crisis has revealed new challenges relating to trade and trade -related 
activities, as it is widely recognised that the pandemic has affected women much harder than men 
and preventing them from participating in trade. Identifying barriers that women face when it comes 
to participating in trade will help the development of policies and programs that encourage women's 
participation in national and international trade, and by doing so promote sustainable social 
economic development.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 21 - 
 
  4.94.   Important tool in advancing women 's economic empowerment is sharing of best practices of 
respective experiences relating to those policies and programs, a work that the Informal Working 
Group on Trade and Gender has been focusing on and is laid out in the Joint Ministerial Declaration 
on the advancement of gender equality and women 's economic empowerment within trade.  
4.95.   As the Trade Policy Review provides an excellent opportunity to gather information, Iceland 
has submitted in advance written questions on the participation of women in the economy of Bahrain . 
We welcome the replies as the answers will be useful in gathering best practice s. 
4.96.   Finally, as one of the co -chairs of the Informal Working Group on Trade and Gender, Iceland 
invites Bahrain to join the large group of Members supporting the Joint Ministerial Declaration on 
the advancement of gender equality and women 's economic empowe rment within trade.  
4.97.   Iceland appreciates Bahrain' s active engagement in WTO and their continued support for the 
multilateral trading system. We wish the delegation of Bahrain  every success for their Trade Policy 
Review.  
TURKEY  
4.98.   Turkey welcomes the delegation of Bahrain headed by Mr  Zayed  bin Rashid Al Zayani, Minister 
of Industry Commerce and Tourism.  We would like to thank the Secretariat and the 
Kingdom  of Bahrain for their detailed reports as well as discussant Ambassador  Li Chenggang of 
China fo r his insightful comments.  
4.99.   As stated in the reports, Bahrain maintained positive annual real GDP growth before the 
pandemic. In the medium term, growth is expected to continue after the pandemic thanks to the 
measures taken by the government.  
4.100.   Turkey comm ends efforts of Bahrain to diversify its economy in the framework of its 
economic Vision 2030.  
4.101.   Bahrain also continued to improve its investment regime during the review period. Turkey 
considers removing foreign ownership restrictions and further facilitat ion foreign participation in 
some of the selected sectors as positive steps to increase FDI flow.  
4.102.   Bahrain is an active participant in the WTO and participates in Joint Statement Initiatives on 
E-Commerce ; Investment Facilitation for Development ; and Micro, Small, and Medium -sized 
Enterprises. It also ratified the WTO Trade Facilitation Agreement in September  2016.  
4.103.   We attach importance to our relations with Bahrain.  We believe that our bilateral economic 
and trade agreements with Bahrain constitute a fi rm base for further advancing our economic and 
trade relations.  
4.104.   Although the pandemic has affected negatively our trade, we consider that there is a 
considerable potential to increase our trade volume. Furthermore, as recent examples of TAV and 
GAMA compan ies show, Turkish investors are important partners for the projects in transport, 
energy , and infrastructure in Bahrain. We think that this cooperation can be further strengthened.  
4.105.   We also thank the delegation of Bahrain in advance for their replies to ou r questions on 
specific aspects of its trade policy. We wish the Kingdom  of Bahrain a very successful Trade Policy 
Review.  
OMAN  
4.106.   It is a great pleasure for the delegation of the Sultanate of Oman to participate in the 
fourth  Trade Policy Review of the Kingd om of Bahrain , founding Member of the WTO.  
4.107.   At the outset, let me extend my warmest welcome to H.E.  Mr Zayed bin Rashid Al Zayani, 
Minister of Industry, Commerce and Tourism of the Kingdom  of Bahrain and commend him for the 
eloquent and comprehensive openin g statement. We would like also to thank you Madam WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 22 - 
 
  Chairperson, as well as the Secretariat for the preparation of this meeting. I take this opportunity 
to thank our brother H.E.  Dr Yusuf Abdulkarim Bucheeri, Ambassador and Permanent Representative 
of the K ingdom  of Bahrain and the other members of his distinguished delegation attending this 
meeting.  
4.108.   We would like also to thank the discussant H.E.  Mr Li Chenggang, Ambassador and 
Permanent Representative of China to the WTO, for his insightful comments.  
4.109.   Oman and Bahrain enjoy deep -rooted fraternal, historical, and economic relations.  
4.110.   Oman congratulates the Kingdom  of Bahrain on its efforts regarding economic diversification 
under its economic Vision 2030 through implementation of several project s to improve the quality 
of infrastructure, promote digitalization, ensure high -quality services and move from an oil -based 
economy to a globally competitive, productive, sustainable, and diversified economy.  
4.111.   Despite the economic shocks during the review period, the Government of the 
Kingdom  of Bahrain has succeeded to stabilize the economy by the measures taken by the 
Government.  
4.112.   We are glad to note that Bahrain continues to improve its trade and investment environment 
by, inter alia, implementing an onli ne commercial registry system (SIJILAT) to simplify business 
registration. Steps were also taken in 2021 to further facilitate foreign participation in some of the 
selected economic activities under the legislation on foreign direct investment (FDI).  
4.113.   The K ingdom  of Bahrain is actively participating in the various WTO negotiations and 
positively engages in discussions with the WTO Members.  
4.114.   Oman commends the Kingdom  of Bahrain on the steps taken since the last review especially 
regarding implementation of the  Trade Facilitation Agreement.  
4.115.    The delegation of the Sultanate  of Oman wishes the delegation of the Kingdom  of Bahrain 
a very successful fourth  Trade Policy Review.  
JORDAN  
4.116.   First, we fully associate ourselves with the statement delivered by the 
Kingdom  of Saudi  Arabia on behalf of the Arab  Group. Jordan would also like to start by extending 
a warm welcome to the entire delegation of Bahrain led by H.E.  Mr Zayed bin Rashid Al Zayani, 
Minister of Industry Commerce and Tourism.  
4.117.   Our appreciation is a lso extended to the discussant H.E.  Mr Li Chenggang, the Ambassador 
of China for the insightful and thorough remarks.  
4.118.   At the outset, my delegation commends the Government of Bahrain and the WTO Secretariat 
for the comprehensive reports. Both reports demons trated that the economy of Bahrain is heading 
towards a path of sustainability embodied by their advancement of the quality of infrastructure, their 
promotion of digitalization, and their assurance of high -quality services to recover from COVID -19 
pandemic . 
4.119.   We congratulate Bahrain for their remarkable progress made in economy and trade in 
accordance with the implementation of its economic Vision 2030. The Vision, which was launched in 
2008, provides a coherent framework to further continue their work in the  development of their 
Kingdom's economy, focus on making strides towards digitizing its economy and enhance the 
Kingdom's ecosystem through emerging technologies.  
4.120.   As a traditional free market economy, and a liberal trading country, Bahrain maintains a 
profound interest in its trade expansion and investment growth. It is a founding Member of the WTO, 
and one of its first Members, which ratifies the Trade Facilitation Agreement (TFA). These measures 
are pursued through a consistent maintenance and the continu ous increase in Bahrain's adherence 
and engagement with their trading partners multilaterally, regionally, and bilaterally.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 23 - 
 
  4.121.   Furthermore, we commend Bahrain's commitment towards its WTO obligations, and its 
constructive role in the efforts to strengthen the  multilateral system.  
4.122.   Jordan highlights the importance of Bahrain 's efforts to improve trade facilitation. Their 
efforts have been impressive as witnessed in the new trade facilitation initiatives, including Bahrain's 
implementation of the GCC unified guide on advance rulings, the launch of remote customs clearance 
service, and the introduction of an authorized economic operator scheme and other schemes giving 
facilitated access for trusted operators.  
4.123.   Also, we appreciate various incentive measures provided by Bahrain to promote foreign 
investment to reduce red -tape and c reate an environment that makes investments and growing a 
business accessible by a liberal business environment – that offers 100% foreign ownership, coupled 
with comparatively lower operating costs, as currently the cost of running a business in Bahrain i s 
approximately comparatively 30% lower than other regional centers.  
4.124.   Jordan and Bahrain enjoy excellent bilateral and economic relations governed by several 
agreements; mainly the Pan  Arab Free Trade Area (PAFTA), along with the brotherly and historical 
ties which always existed between the two nations. Jordan emphasizes the importance of its relations 
with Bahrain and is always keen to further expand the strong bilateral economic ties on all levels, 
which have demonstrated continuously to hold promising o pportunities ahead for both  countries.  
4.125.   To conclude, Jordan congratulates the Bahraini Government and the business society for 
their achievements and would like to wish the brotherly Kingdom  of Bahrain more prosperity and a 
fruitful and successful Trade Pol icy Review and congratulates the Permanent Representative of 
Bahrain in Geneva H.E.  Dr Yusuf Abdulkarim Bucheer i and his whole team for their very constructive 
role in preserving and consolidating the multilateral trading system.  
ARGENTINA  
4.126.   We would like to associate ourselves with those Members that have welcomed the delegation 
of Bahrain, led by H.E.  Mr Zayed bin Rashid Al Zayani, Minister for Industry, Commerce and Tourism.  
4.127.   We are grateful for the reports prepared by Bahrain and the Secretariat, wh ich provide a 
comprehensive overview of this Member's trade policies. We also thank Ambassador  Li Chenggang 
for his remarks and comments.  
4.128.   Argentina has strong trade links with Bahrain. Bilateral trade between our countries 
amounted to USD  53 million in 202 0. We export meat, fruit, citrus fruit, melons and watermelons, 
pharmaceuticals, and cereals to Bahrain. In turn, Bahrain supplies us mainly with fuels, mineral oils, 
distillation products, and bituminous substances.  
4.129.   In recent years, trade between our coun tries has experienced sustained growth. However, 
it is still far from its potential. We believe that there are great opportunities for trade in the agrifood, 
pharmaceutical, and automotive sectors.  
4.130.   Argentina is aware of the challenges faced by Bahrain in r elation to the economic crisis 
resulting from the pandemic and the fall in oil prices. These include fiscal sustainability and the need 
to further diversify the economy to reduce dependence on the oil sector. We are confident that the 
policies set out in V ision 2030 and the Government Action Plan will succeed in addressing these 
issues.  
4.131.   We take this opportunity to reiterate our intention to work together with Bahrain at the next 
Ministerial Conference to achieve substantive results aimed at invigorating the  multilateral trading 
system for the benefit of all.  
4.132.   Lastly, we would like to underline that Argentina wishes to continue to expand trade relations 
with Bahrain, and we consider South -South cooperation to be a fundamental pillar in strengthening 
these ties  based on the principles of complementarity, equality, and solidarity. In this regard, we 
appreciate the efforts made in the negotiations to reach agreements on investment promotion and WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 24 - 
 
  protection; the elimination of double taxation; air transport; and the  strengthening of economic and 
trade relations.  
4.133.   Allow me to conclude by again thanking the distinguished delegation of Bahrain, you, 
Ambassador  Chenggang, and the Secretariat for this further opportunity to exchange views on 
Bahrain's trade policies.  
4.134.   We re affirm the relevance of all aspects of this exercise and wish the Minister for Industry, 
Commerce and Tourism and his entire delegation a successful conclusion to this review.   
YEMEN  
4.135.   We would like to associate to the statement of by the Arab  Group and congratulate the 
Kingdom  of Bahrain on the occasion of its fourth  Trade Policy Review at the WTO.  
4.136.   Bahrain is a traditional free market economy, and a notable liberal trading country. It has a 
stable and transparent business setting and maintains deep interest  in trade expansion and 
investment growth. Yemen commends Bahrain's trade policy objectives to ensure fair and 
predictable international trading environment, for both exports and imports.  
4.137.   I still recall when Bahrain started the economic transformation in the sixties of the last 
century. The result is what we see now, as the region's most diversified economy.  
4.138.   Bahrain Economic Vision  2030 provides a clear direction for economic development. It also 
addresses the Sustainable Development Goals 2030 (SDGs). Th e government Action Plan for the 
years (2019 -22) reflects Bahrain's strategic priorities, focusing on achieving overall sustainable 
development.  
4.139.   A "Team Bahrain " approach was built around a responsive Government working together 
with the private sector. It has become a model of private -public collaboration, including investors 
and entrepreneurs. Added to that a " Start-up Bahrain" initiative that aims to stimulate and 
encourage entrepreneurial culture.  
4.140.   Bahrain  is a founding Member of the WTO. It has implemented several policies and passed 
a number of regulations to enhance the legislative framework in line with its WTO commitments. 
Yemen renews its best wishes to B ahrain for the reforms undertaken and its economic vitality. 
We wish Bahrain success in accomplishing its objectives, as well as its fourth  Trade Policy Review.  
TUNISIA  
4.141.   My delegation is pleased to participate in the fourth  TPR of the Kingdom  of Bahrain, an d 
welcomes its delegation led by H.E.  Mr Zayed bin Rashid Al Zayani, Minister for Industry, Commerce 
and Tourism, to whom we would like to express our appreciation for the comprehensive briefing on 
Bahrain's economic situation and trade policy.  
4.142.   Our congrat ulations also go to the Secretariat for the comprehensive report submitted to us 
on the occasion of this review and to H.E.  Mr Li Chenggang, Ambassador Permanent Representative 
of China, for the relevance of the remarks he made.  
4.143.   My delegation would like to highlight the considerable efforts made by the 
Kingdom  of Bahrain since the previous Trade Policy Review to pursue its policy of economic and 
trade liberalization through sustained diversification efforts, particularly in the financial services 
sector, which has become the largest non -oil contributor to Bahrain's GDP, and in 
telecommunications services, which are now open to foreign investment.  
4.144.   We would like to congratulate the Kingdom  of Bahrain on its Economic Vision  2030 and its 
medium -term Fisca l Balance Program (FBP), which have promoted this policy of diversification and 
openness, and have contributed to the implementation of a number of projects aimed at improving 
the quality of infrastructure and promoting digitalization and ensuring quality services.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 25 - 
 
  4.145.   Tax reform and measures to control and rationalize public expenditure have helped to 
maintain positive levels of economic growth.  
4.146.   The Secretariat's report notes that, despite a difficult global and regional economic context 
owing to the drop in o il prices and the COVID -19 pandemic, Bahrain's economy is expected to 
recover in 2021, with an estimated growth rate of 3.1% and a positive outlook over the period 
(2022 -2025), thanks to the measures adopted by the Bahraini authorities to mitigate their ef fects, 
notably through a substantial economic stimulus plan of around USD  12 billion and the maintenance 
of public spending on infrastructure. This is a significant achievement in times of health crisis.  
4.147.   The Kingdom  of Bahrain has remained an active player  in the WTO since its accession. Its 
participation in various initiatives related to the Joint Statements on e -commerce, investment 
facilitation for development, and micro, small, and medium -sized enterprises, its compliance with 
WTO notifications and its engagement in several regional trade and investment agreements reaffirm 
its commitment to the rules -based multilateral trading system.  
4.148.   Furthermore, Tunisia and Bahrain have a special relationship of friendship and cooperation 
supported by a legal framework  of more than 30  legal instruments covering the various aspects of 
bilateral cooperation between the two  countries.  
4.149.   The development of cooperation is monitored by the two countries' Business Council and the 
Joint Commission established in October  1975, whose last high -level session was held in Manama in 
2016.  
4.150.   Trade between the two  countries reached nearly USD  15 million in 2020, and the countries 
are determined to strengthen and consolidate this cooperation in all areas of common interest, such 
as tourism, crafts, agriculture, and fisheries.  
4.151.   Lastly, I would like to congratulate H.E.  Ambassador  Yusuf Abdulkarim Mohammed Bucheeri, 
Permanent Representative of the Kingdom  of Bahrain to the WTO, and his team for their active 
involvement in the wo rk of the WTO and in the round of trade negotiations carried out here in 
Geneva.  
4.152.   We wish our brothers in Bahrain a very fruitful Trade Policy Review.  
HONDURAS  
4.153.   Honduras warmly welcomes the entire delegation of the Kingdom  of Bahrain, led by its Head, 
Mr Zayed bin Rashid Al Zayani, Minister for Industry, Commerce and Tourism, and thanks them for 
their statement and report.  
4.154.   We extend our thanks to you, Chair, the Secretariat and the discussant for your valuable 
contributions to this review.  
4.155.   In terms of the rep orts under review, we are pleased to note that, during the period 
2014-2019, the Kingdom  of Bahrain recorded positive annual real GDP growth, supported largely by 
growth in the non -oil sector.  
4.156.   In 2020, the economy contracted by 5.1% as a result of the COVI D-19 pandemic and the 
fall in oil prices. In 2021, real GDP growth is expected to reach 3.1%, with a medium -term growth 
outlook of between 2 and 2.5%.  
4.157.   The reports indicate that, since the turn of the century, the structure of Bahrain's economy 
has been tra nsformed by a rapid process of economic diversification, and that between 2000 and 
2020, the share of the hydrocarbon sector more than halved in relative terms, while the contribution 
to Bahrain's GDP from all other sectors has been increasing.  
4.158.   We note tha t the services sector has become the backbone of the economy, accounting for 
close to 60% of real GDP in 2020, which has enabled Bahrain to establish itself as a net exporter of 
services.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 26 - 
 
  4.159.   We are pleased to note that, within the framework of its Economic Vi sion 2030, Bahrain 
launched several projects to improve the quality of its infrastructure, promote digitalization and 
ensure high -quality services.  
4.160.   During the period under review, Bahrain enacted a new law on standardization and metrology 
to enable it to a dopt international standards and expand the scope of work in this area in order to 
ensure harmonization with international and regional practices. It also adopted a legal framework 
on the promotion and protection of economic competition with the aim of reg ulating anti -competitive 
practices, abuse of dominance, and economic concentration, among other matters.  
4.161.   In recent years, Bahrain has adopted innovative approaches in the financial services sector, 
most of them focused on fintech, and has launched various initiatives to promote fintech, digital 
solutions, crypto -asset platform operators, open banking, and digital finance advice to support the 
growth of its economy.  
4.162.   It is noteworthy that, in 2020, the Government introduced the Made  in Bahrain brand as one 
of the most important initiatives to promote local products and facilitate their exportation. It is hoped 
that this initiative will contribute to increasing reliance on local industries and help to achieve 
self-sufficiency and food security.  
4.163.   Bahrain was name d the best country in the world in which to invest, in the per  capita 
investment category, in the 2016, 2017 and 2018 editions of the Mac  Conway  Awards, and ranks 
first in the Middle East and North Africa region for ICT readiness.  
4.164.   We agree with Bahrain tha t it is important for Members to direct investments towards 
technologies that reduce carbon emissions and pollution, and promote the use of more sustainable 
energy sources, and that, within this Organization, we support the effective implementation of 
special and differential treatment for developing countries and small economies.  
4.165.   Lastly, Honduras acknowledges the Kingdom  of Bahrain's contributions to, and active 
participation in, the various WTO Bodies, and we wish them every success in the presentation of  
their Trade Policy Review.  
UNITED  ARAB  EMIRATES  
4.166.   I would like first to warmly welcome the distinguished delegation of the Kingdom  of Bahrain, 
led by H.E.  Mr Zayed bin Rashid Al Zayani, Minister of Industry Commerce and Tourism.  We also 
thank the discussant and the WTO Secretariat, and the TPR Division in particular.   
4.167.   The UAE enjoys close and privileged trade relations with the Kingdom  of Bahrain. We both 
share common views on most of the trade -related matters, both on bilateral basis and within the 
GCC Group. I am saying this not only because in a very few months, like Bahrain, the UAE too will 
have its fourth TPR.  
4.168.   It is not a surprise that in 2020, according to the Government 's report, the UAE was one of 
the top six  exporters to the Kingdom  of Bahrain (6%) and ranks second among importing partners  
(9%).  
4.169.   We thank the Kingdom  of Bahrain for the commendable efforts made to fulfil its 
commitments as a WTO Member and to remain, since its accession to the global institution, a firm 
believer and advocate of the multilateral system.  
4.170.   Finally, we wish the Bahraini team a successful TPR review and, above all, a pleasant stay 
in Geneva despite these exceptional circumstances.   
BANGLADESH  
4.171.   At the outset, the Bangladesh delegation wel comes H.E.  Zayed bin Rashid Al Zayani , Minister 
of Industry Commerce and Tourism and Head of Delegation for his introductory presentation at the 
fourth  Trade Policy Review of Bahrain. Bangladesh delegation also thanks H.E.  Mr Li Chenggang , WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 27 - 
 
  Permanent Representative  and Ambassador of China for his insightful discussions. Our sincere 
appreciations also go to the Government of the Kingdom  of Bahrain and the WTO Secretariat for the 
comprehensive reports.  
4.172.   The relations between our two  countries ha ve been friendly since inception of diplomatic 
relationship. Our bilateral ties have been further bolstered with the high -level visits from both sides.  
As one of the friendly country, Bangladesh is delighted to note the great strides and significant 
progr ess that Bahrain has made during review period. We see that the prudent macro -economic 
measures adopted by the country have resulted in impressive economic growth and remarkable 
improvement in almost all indices.  
4.173.   With a population of about 1.5  million and a GDP per  capita of USD  23,300, according to the 
World  Bank, the Kingdom  of Bahrain is a high -income country. With the long -standing diversification 
efforts, including under Bahrain's Economic Vision  2030, the services sector has become the 
backbone of the  economy, accounting for nearly 60% of real GDP in 2020. Petroleum products alone 
still account for some 18.3% of GDP, with significant contributions to government revenue, exports, 
and other economic activities. The manufacturing sector, which contributes  14.2% of GDP is 
energy -intensive and the second  largest contributor to non -oil GDP. Bahrain has implemented 
several projects to improve the quality of infrastructure, promote digitalization, and ensure 
high-quality services, under its economic vision 2030 . Bahrain introduced a medium -term Fiscal 
Balance Program in 2018 in response to falling foreign exchange reserves, and high fiscal deficit and 
central government debt. The program includes voluntary retirements of public sector employees, 
tax reforms, and  spending controls.  
4.174.   The Bahrain economy still remains highly dependent on trade, with its ratio of trade in goods 
and services to GDP fluctuating between about 176% in 2014 and 136% in 2020. Petroleum products 
continue to account for the bulk of merchandis e exports followed by non -ferrous metals, while 
imports are dominated by crude oil destined for the national refinery, agricultural products, and 
various manufactured goods. Bahrain is an active participant in the multilateral trading system. 
Bahrain ratif ied the WTO Trade Facilitation Agreement in September  2016, and the Government 
indicates that it has implemented 100% of its commitments under the Agreement, ahead of 
schedule.  
4.175.   Bangladesh and Bahrain enjoy excellent relations based on identical values, sha red 
perceptions and common traditions. We have an unfailing record of mutual support and cooperation 
at all international forums including the United  Nations. The political commitment to the close 
relationship has been translated into action through bilate ral agreements covering economic, 
technical, and cultural cooperation. Conclusion of further agreements in the areas of trade  and 
investment ; customs and taxation ; and air services etc. strengthening and expanding the relations 
between our two  countries fu rther.  
4.176.   Relations between the two friendly countries have continued to grow since establishment of 
diplomatic relations following Bahrain 's recognition of Bangladesh in 1974. Bangladesh and Bahrain 
have maintained an excellent record of mutual support and c ooperation at the United  Nations and 
other multilateral forums both on substantive and electoral matters. Bangladesh established a 
resident Mission at the Ambassador level in Bahrain on 28  February  1983. Bilateral trade between 
Bahrain and Bangladesh USD 50 million in 2020. Exports from Bangladesh were mostly consumer 
items such as ready -made garments, fresh vegetables while Bahrain exports included aluminium, 
heavy pure woven cotton, vehicle parts, engine parts , and petroleum products.  
4.177.   To conclude, Madam Chair, we wish the delegation of Oman a productive and successful TPR. 
My delegation will continue to work closely with the Bahrain delegation, led by Ambassador 
H.E. Dr Yusuf Abdulkarim Bucheeri to strengthen multilateral trading system, a s we assist our 
countries to enhance our bilateral trade ties.  
EGYPT  
4.178.   Egypt associates itself with the statement delivered by Saudi  Arabia on behalf of the 
Arab Group and wishes to join others in extending a very warm welcome to H .E. Mr Zayed bin Rashid 
Al Zayani, Honourable Minister of Industry, Commerce and Tourism of Bahrain, and the esteemed 
delegation from Manama and in Geneva.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 28 - 
 
  4.179.   We thank the Government of Bahrain and the WTO Secretariat for their detailed reports, as 
well as H .E. Ambassador  Li Chenggang (of China) for his insightful comments as discussant.  
4.180.   Bahrain 's economy was deeply hit by both the C OVID -19 pandemic and falling global oil 
prices, recording a 5.1% contraction last year, it was able to effectively respond with a series of 
commendable meas ures, which resulted in growth projections of 3.1% in 2021.  
4.181.   We applaud Bahrain for its Economic Vision  2030, which aims to foster development, 
including through several projects aiming to improve infrastructure, promote services sectors and 
digitalization , all of which place Bahrain towards further economic diversification and 
competitiveness.  
4.182.   We commend Bahrain 's commitment to the multilateral trading system, including its positive 
record in submitting notifications and constructive participation in vari ous discussions at the WTO. 
In addition, Bahrain has implemented its obligations under the Trade Facilitation Agreement and 
took further initiatives that expedited customs clearance system, where around 90% of goods are 
swiftly released without inspection.  
4.183.   Bahrain also implemented several economic reforms conducive to an open trade and 
investment environment. The Secretariat report enlists some reforms that facilitate foreign 
participation in the economy, such as streamlining business registration and licen sing requirements 
as well as removing many foreign ownership restrictions. Such sound measures coupled with 
regulatory improvements in telecommunication, transport and intellectual property hold great 
potential to boost Bahrain 's economy.   
4.184.   Egypt and Bahra in share brotherly, historical and well -established ties, and our economic 
relations continue to flourish. According to the ITC  Trade  Map, bilateral trade more than doubled 
during the review period, and other sources show increasing trends in 2021. Bahrain i investments 
in Egypt surpassed USD 3.2 billion by 2021 spread over 200  projects in many fields, including 
infrastructure and tourism. We invite Bahrain to continue expanding its investment flows to Egypt 
and make good use of increasing opportunities in v arious economic sectors.  
4.185.   Finally, I conclude by wishing Bahrain a successful and productive Trade Policy Review.  
NEPAL  
4.186.   At the outset, allow me chair to extend my warm welcome to the delegation of The  
Kingdom  of Bahrain led by H.E.  Mr Zayed bin Rashid Al Zayani , Minister of Industry Commerce and 
Tourism, and extend sincere appreciation for his comprehensive remarks summarizing the Trade 
Policy Review of Bahrain.  
4.187.   My delegation wishes to thank H.E.  Mr Li Chenggang, Ambassador of Republic of China for 
his in sightful remarks as discussant.   
4.188.   I would like to commend the efforts of the WTO Secretariat and the Government of 
Kingdom  of Bahrain for producing the comprehensive reports and providing opportunity to all WTO 
Membership to discuss the various issues of t rade policy of Bahrain.  
4.189.   I commend the Kingdom  of Bahrain for its continued commitment to predictable, 
transparent, just and rule -based multilateral trading system.  
4.190.   The facts incorporated in the reports showed that country is aspiring to achieve its goals 
envisioned in economic Vision 2030 document.  
4.191.   The visions and actions of the Kingdom to move from an oil -based economy to a globally 
competitive, productive, sustaina ble, and diversified economy with solid regulatory framework to 
create attractive domestic and foreign investment environment and government working together 
with the priv ate sector towards a sustainable future are encouraging.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 29 - 
 
  4.192.   Through the same reports ch air, the leadership of the country also seemed aligning the 
country 's policies with principles of fairness, competitiveness, and sustainability across the 
Government, society, and the economy.  
4.193.   As highlighted in the reports, growth of non-oil exports and im ports are supportive to achieve 
the country 's goal of moving to non -oil economy and diversifying trade.  
4.194.   The endeavours made by the Kingdom  of Bahrain to improve overall business environment 
through numbers of legislation and instrument in areas of trade investment, e -commerce, 
digitalization of economy are also appreciated.  
4.195.   Let me turn to the bilateral front. Nepal and the Kingdom  of Bahrain have been enjoying 
cordial and friendly relations since the establishment of their diplomatic relations in 19 77. Mutual 
trust, respect, understanding, and cooperation has formed the strong basis of our bilateral relations.  
4.196.   Nepal and Bahrain share similar views on several international forums and issues including 
in the WTO.  
4.197.   In terms of economic relations, trade, investment, tourism and migrant workers have remain 
the main potential areas of cooperation. However, the potentials are yet to be leveraged further.  
4.198.   The trade between Nepal and Bahrain remains quite insignificant. In 2020, total amount of 
Nepali exports t o Bahrain stood at slightly above NPR 1.5 million  while total import from Bahrain 
above NPR 161 million. The terms of trade is obviously in the favor of the Kingdom  of Bahrain  though 
very minimal.  
4.199.   Another area of cooperation is tourism, Nepal could be a to urist destination for Bahraini 
nationals. Nepal could provide best alternative ambience for Bahraini tourists to spend their holidays.  
4.200.   Nepal also could become a destination of choice for Bahrain for investment opportunity. 
However, it is not realized. The Government of Nepal has introduced numbers of reforms in 
investment regulations and processes to ease the doing business in recent years to attract the FDI.  
4.201.   In addition, Bahrain has become one of the preferred destinations for employment 
opportunities for Nepali workers. The flow of Nepali people to Bahrain is increasing year by year. 
They have been important source of human resource contributing to socio -economic development 
of the Kingdom  of Bahrain.  
4.202.   Both the countries have huge potentials of exploring an d harnessing possible areas especially 
in trade, investment, tourism, employment , and people -to-people contact level in the days ahead.  
4.203.   Having said this, I would like to extend my best wishes to the delegation of the 
Kingdom  of Bahrain for the successful c onclusion of this Trade Policy Review.  
JAPAN  
4.204.   Japan welcomes the delegation of the Kingdom  of Bahrain led by H.E.  Mr Zayed bin Rashid 
Al Zayani . We sincerely appreciate the reports prepared by the WTO Secretariat and the Government 
of the Kingdom  of Bahrain, which form the basis for our discussion today. We are also grateful to 
the discussant, H.E.  Mr Li Chenggang, Ambassador to the WTO of China, for his insightful remarks.   
4.205.   Japan welcomes Bahrain 's efforts to advance economic reforms, such as the expansion of 
trade in services and promotion of digitalization based on the "Bahrain Economic Vision  2030". 
Although the COVID -19 pandemic has had adver se impacts on the economy of the 
Kingdom  of Bahrain, Japan expects that it will continue to grow under the multilateral trading 
system.  
4.206.   Japan acknowledges that Bahrain has been contributing to the multilateral trading system, 
including through its particip ation in the Joint Statement Initiatives. Bahrain is also an observer to 
the Agreement on Government Procurement, and we expect that it will start taking actions towards WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 30 - 
 
  becoming a member. On the subject of multilateral cooperation, Bahrain is also the las t country to 
undergo a TPR before MC12. We look forward to the country 's contributions to the success of MC12.  
4.207.   According to the Secretariat 's report, increased investment is one of the important pillars of 
the "Bahrain Economic Vision  2030". Japan has been  negotiating an investment agreement with 
Bahrain. We look forward to continuing our joint efforts in order to conclude the negotiations soon.  
4.208.   Regarding Bahrain 's business environment, Japan values Bahrain 's efforts to provide 
generous support to foreign c ompanies operating in the market. Japan particularly appreciates 
Bahrain 's taxation system, which includes elements such as a corporate tax exemption, and the 
cooperative attitude of the Bahrain Economic Development Board, which has an office in Tokyo.  
4.209.   To conclude, Japan expresses its appreciation for Bahrain 's participation in this Trade Policy 
Review despite the ongoing COVID -19 pandemic, as well as Bahrain 's efforts to improve its trading 
environment since the last review.  We wish the delegation of the K ingdom  of Bahrain every success 
in this Trade Policy Review.  
MOROCCO  
4.210.   The delegation of the Kingdom  of Morocco extends a very warm welcome to His Excellency 
Mr Zayed bin Rashid Al Zayani, Minister for Industry, Commerce and Tourism of the 
Kingdom  of Bahrain.  
4.211.   Our thanks also go to the Government of the Kingdom  of Bahrain and the Secretariat of the 
Organization for their detailed reports, and to His Excellency Mr  Li Chenggang, 
Ambassador/Permanent Representative of China, for his comments and insights.  
4.212.   Morocco congratulates the Government of Bahrain for its commitment to the multilateral 
trading system and for carrying out its fourth trade policy review, demonstrating its full compliance 
with WTO rules, in particular the principle of transparency. We als o welcome the active engagement 
of this brother country in the negotiations of certain bilateral and regional trade agreements, bearing 
in mind their contribution to a free, open and transparent trading system.  
4.213.   My delegation notes with satisfaction the lon g-standing efforts of the Bahraini Government 
to diversify its economy, including within the framework of the Economic Vision  2030, which 
addresses, among other things, the Sustainable Development Goals.  
4.214.   This Vision, which aims to build a better life for every Bahraini citizen, is driven by the need 
to move from an oil -based economy to a competitive, productive, sustainable and diversified 
economy, supported by a strong regulatory framework that creates an attractive environment for 
domestic and foreig n investment.  
4.215.   In this regard, and with reference to this economic diversification strategy launched by 
Bahrain, Morocco strongly encourages the Bahraini Government to persevere in the implementation 
of this diversification strategy, which will reinforce th e trade policies that the Government is 
implementing in accordance with the commitments made and fully honoured in the framework of 
the WTO, in particular the Trade Facilitation Agreement.  
4.216.   The trade policy review report reveals Bahrain's progress in recent  years, notably the 
achievement of an average annual growth rate of 2.61% in non -oil imports between 2010 and 2020. 
Progress has also been made on the legislative front with the adoption of several investment -friendly 
laws, including the introduction, in 2 016, of the SIJILAT online commercial registry system to simplify 
business registration, streamline licensing requirements and ensure coordination between relevant 
agencies.  
4.217.   Before concluding, I would like to reiterate my country's desire to further promot e 
cooperation with this brother country in the light of the excellent bilateral relationship we enjoy and 
the strategic partnership that unites us through the Gulf Cooperation Council.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 31 - 
 
  4.218.   All areas of common interest, in particular those of an economic and co mmercial nature, 
should be strengthened in order to reinforce trade levels and improve investment opportunities. 
Lastly, the Kingdom  of Morocco wishes the Kingdom  of Bahrain a fruitful Trade Policy Review.  
 
  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 32 - 
 
  5  REPLIES BY THE REPRESENTATIVE OF THE KING DOM OF  BAHRAIN  AND ADDITIONAL 
COMMENTS  
5.1.  On behalf of the Kingdom  of Bahrain, allow me to begin by expressing our thanks to our Chair, 
H.E. Ambassador  Athaliah Molokomme of Botswana, for her remarkable and cordial conduct of our 
fourth  Trade Policy Review meeting. Dedicated thanks are also due to H.E.  Ambassador  
Li Chenggang of China, for his valuable and insightful remarks.  We also reiterate our sincere  
appreciation to the WTO Trade Policy Review Division for the quality of their report and their technical 
and functional coordination and support throughout the entire review process.  
5.2.  As a small, open, developing economy that thrives on free trade, the Ki ngdom  of Bahrain firmly 
believes in the effectiveness of a strong rules -based multilateral system in ensuring a fair and 
predictable international trading environment and contributing to global economic development and 
prosperity.  
5.3.  To this end, the Kingdom  of Bahrain attaches great importance to the Trade Policy Review 
exercise as one of the most important instruments at the WTO for ensuring transparency and 
predictability in the multilateral trading system.  
5.4.  In this respect, we are deeply encouraged to see the high level of interest displayed in Bahrain's 
review through the valuable statements and comments made by the distinguished Membership 
during the opening session of this meeting for which we thank you all.  
5.5.  We are also pleased to note that a number of i ssues that were raised by Members during our 
third review in 2014 have been resolved, which serves as a testament to the commitment of the 
Kingdom  of Bahrain to its obligations under the WTO Agreements and to our fellow WTO Members.  
5.6.  As for our current rev iew, I am happy to report that the Kingdom  of Bahrain has provided 
written answers to all 141  advance questions received by Members within and after the deadline, 
and we trust that the responses were to your satisfaction. Follow up questions received after  the 
opening session will be fully attended to in due course.  
5.7.  I would also like to express our sincere appreciation for the opportunity to interact with 
Members and the valuable remarks made during the opening session on Wednesday, which we have 
engaged wi th intensively over the past 48  hours. In this regard, and in reaction to those remarks, 
we are pleased to make the following announcements:  
• Our formal support of the Buenos Aires Declaration on Trade and Women's Economic 
Empowerment.  
• Participation in the Trade and Environmental Sustainability Structured Discussions, in line 
with the Kingdom's commitment to reach net zero by 2060.  
• Serious consideration to our accession to the GPA subject to conformity with national 
legislation and practices.  
• The intention to join as a participant of the JSI on Services Domestic Regulation.  
5.8.  Furthermore, as a founding Member of the WTO and having invested more than 25  years in 
this Organization, we are fully committed to the WTO reform process and stand ready to engage and 
cooperate with Members in relevant discussions which are essential for the continued strength of 
the Organization.  
5.9.  In the area of notifications, the Kingdom  of Bahrain works closely with the WTO and is 
committed to meeting all its notification obligations. I n this regard, we do not believe that we have 
any outstanding notifications but welcome any specific suggestions which we guarantee to act upon 
in due course.  
5.10.   COVID -19 has undoubtedly taken a toll on the global economy, and we highly recognize the 
efforts undertaken by the WTO to minimize such adverse impacts and facilitate access to essential 
medical goods and services.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 33 - 
 
  5.11.   On a national front, our economy has shown positive sign towards recovering to 2019 levels, 
and while not reaching that goal in aggregate, several sectors have already surpassed 2019 levels. 
These positive indicators reinforce our belief that we are on the right track to surpass aggregate 
2019 levels by 2022.  
5.12.   The Kingdom  of Bahrain takes great pride that under its presidency, the G CC has relaunched 
and initiated several FTA negotiations. With a dedicated negotiations team in place, the GGC is 
simultaneously engaged with seven  countries, and expects a signing of at least one to take place 
during the first half of next year.  At this point it prudent to thank my GCC counterparts as well as 
the GCC General Secretariat and the GCC negotiations team for their exemplary efforts in 
resurrecting this initiative.   
5.13.   In the same vein, we were pleased to the hear the positive feedback and calls in Members' 
interventions for deeper bilateral economic, trade and investment engagement with the 
Kingdom  of Bahrain which we have always welcomed and shall continue to do so.  
5.14.   As a historic trading nation, we greatly appreciate the remarks made by Me mbers in 
considering Bahrain as a gateway to the GCC Market and look forward to reinforcing such a tradition 
with the launch of our recent logistics strategy guaranteeing air to sea shipments in less than 
two hours.  
5.15.   With regards to the Investment Regime i n Bahrain, it is noteworthy that 97% of business 
activities allow foreign investment (64% allow 100% foreign ownership; 30% allow foreign 
partnership with a Bahraini partner leaving the share split entirely open to the partners and only 3% 
limited to 49% f oreign ownership).  
5.16.   In the area of Sanitary and Phytosanitary measures, we reassure Members that concerns 
raised in this regard are currently being addressed in coordination with the Ministry of Health and 
we shall revert in due course on the outcomes.  
5.17.   The Kingdom  of Bahrain is a party of the GCC Unified Excise Tax Agreement, and we continue 
to work with our fellow GCC members States to establish a unified position in this regard.  
5.18.   As part of the National SME Development Strategy launched in 2018, "Export  Bahrain" was 
established to act as a catalyst to SMEs exports. The outfit provides guidance, mentoring, 
networking, capacity building and non -financial assistance to all Bahrain based companies, owned 
by both foreign and local investors.  
5.19.   Women in Bahrain ar e fully empowered and are considered completely equal to their male 
counterparts in all facets of life which is why the Kingdom views no need in treating women any 
differently as evident by women's strong and noteworthy presence in all fields of work in bo th private 
and public domains, as well as their active participation in entrepreneurship and CR ownership.  
5.20.   As for the upcoming WTO Ministerial Conference next week, the Kingdom  of Bahrain takes 
special interest in issues of vital interest to developing co untries, LDCs, Small Island Developing 
States and Net Food Importing Countries. Such areas include the WTO's response to the pandemic, 
food security measures, fisheries subsidies disciplines, the development dimension, among other 
areas of vital interest. In addition, as an active participant of both the Joint Statement Initiative on 
E-Commerce and MSMEs, the Kingdom  of Bahrain welcomes concrete outcomes in both  areas.  
5.21.   In closing, allow me to reiterate our sincere appreciation to all those concerned in ens uring a 
successful conclusion to the fourth  Trade Policy Review meeting of the Kingdom  of Bahrain.  
5.22.   The review has presented an excellent opportunity for the Kingdom  of Bahrain to showcase 
its progress as well as hear insightful views and recommendations f rom Members on how to continue 
to build on our strong legacy of openness and commitment to the multilateral trading system.  
5.23.   In this regard, we would like to assure the Membership that the views and recommendations 
expressed will be dealt with diligently a nd effectively for the benefit of both the Bahraini economy 
and the shared interests of the entire WTO Membership.  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 34 - 
 
  5.24.   Thank you all once again for the time and effort put into this successful process, and we look 
forward to concluding a successful 12th Ministerial Conference next week.  
DISCUSSANT  
5.25.   I would like to congratulate the delegation of the Kingdom  of Bahrain led by H .E. Mr Zayed 
bin Rashid Al Zayani, Minister of Industry Commerce and Tourism, and also H .E. Ambassador  Yusuf 
Abdulkarim Mohammed B ucheeri  and his team here in Geneva for their outstanding work undertaken 
in the course of the fourth  Trade Policy Review of Bahrain.  
5.26.   This review has been a constructive and fruitful exercise, which allowed us to deepen our 
understanding of Bahrain 's trade and investment policies, as well as significant developments since 
the last review in 2014.  
5.27.   This morning, I would like to share my observations on this review from three  aspects.  
5.28.   First, on Bahrain's achievements during the review period. Members were del ighted to see 
that Bahrain effectively responded to the pandemic with a series of measures, which resulted in 
growth projections of 3.1% in 2021.  
5.29.   Members highly commended the role of the ambitious economic Vision  2030 in advancing the 
country's economic de velopment and diversification agenda, as well as in guiding the Government's 
policy making.  
5.30.   Importantly, Members acknowledged Bahrain's decades of economic diversification efforts and 
the positive achievements till now. It is recognized that non -oil expor ts witnessed a 4.6% average 
annual growth rate between 2010 -2020, and the contribution of non -oil exports to total exports 
increased from 27% in 2010 to 53% in 2020. Non -oil imports also experienced 2.4% average annual 
growth during the past decade.  
5.31.   Membe rs congratulated Bahrain for the continued improvement of its trade and investment 
regime to further facilitate foreign participation in Bahrain's economy, particularly simplifying 
business registration, streamlining licensing requirements, removing many f oreign ownership 
restrictions.  
5.32.   Members highlighted Bahrain's role both as a founding and strong supporter of the multilateral 
trading system, notably, its ratification of the WTO Trade Facilitation Agreement and its 
implementation two  years ahead of the s chedule. Members also value Bahrain's participation in 
various Joint Statement Initiatives (JSIs), including investment facilitation for development, MSME s 
etc.  
5.33.   Second, on concerns raised by Members. Like in any other review, there are some concerns 
that were raised by Members and areas for improvement.  Some Members raised concerned about 
the outstanding notifications of Bahrain on subsidies and state trading enterprises and encouraged 
Bahrain's improvement of its transparency obligation.  
5.34.   Several Members were interested in the potential revisions of the Excise Tax Treaty for the 
GCC and emphasized the importance of harmonizing its implementation and the need for further 
engagement with private stakeholders. Members also raised questions on Bahrain's invest ment 
policies, IPR protection digitalization etc.  
5.35.   Third, on Members' expectations on Bahrain. It impressed me that members have high 
expectations on Bahrain's active and constructive participation in the multilateral trading system. 
While welcoming Bahrain's participation in some JSIs, a few members encouraged Bahra in to 
consider acceding to the WTO Government Procurement Agreement, supporting the Ministerial 
declaration on trade and women's economic empowerment, participating in the Trade and 
Environmental Sustainability Structured Discussion (TESSD) and joining the  JSI on Services 
Domestic Regulation. One Member also call for Bahrain's cooperation in the WTO reform discussions 
and invite Bahrain to join the MPIA.   WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 35 - 
 
  5.36.   Members also reiterated the importance for Bahrain to continue to maintain an open, fair , and 
transpar ent business environment, with the aim to further grow its economy and reinforce the role 
as a regional economic pole.  
5.37.   It is important to emphasize that, all in all, Members considered Bahrain as a reliable and 
important trading partner in the region and looked forward to strengthening bilateral economic and 
trade relations.  
5.38.   Finally, as also mentioned in H.E. Mr Zayed bin Rashid Al Zayani's opening statement on 
Wednesday, we altogether look forward to the WTO's 12th Ministerial Conference next week.  
5.39.   It has been a pleasure and an honor to be the discussant for Bahrain's fourth  Trade Policy 
Review. I want to thank you, Madam Chair, as well as the WTO Secretariat for the efforts. And 
finally, I would like to , once more , congratulate the Bahraini delegation f or a successful and fruitful 
review.  
EUROPEAN  UNION  
5.40.   On behalf of the EU, let me first thank the delegation of Bahrain for the comprehensive 
overview regarding the main trade and economic developments during the review period on 
Wednesday and this morning.  
5.41.   The EU appreciates the opportunity to receive in -depth information about the modernisation 
and diversification strategy by Bahrain, despite of the challenges caused by the global pandemic. 
The EU stands ready to continue supporting these efforts.  
5.42.   In spite of these efforts, the economy of Bahrain has been a ffected by the pandemic during 
the past two  years, with significant impact on government revenues.  
5.43.   The EU considers it important that Bahrain continues and steps up its engagement towards 
the efficient functioning and modernization of the multilateral tra ding system.  
5.44.   The exchanges during this review also underlined the need for Bahrain to address certain 
concerns by the WTO Members in some areas that are important to ensure predictable and 
transparent trading conditions with Bahrain.  
5.45.   The EU appreciates t he timely responses provided by Bahrain to our advance written 
questions. We have posed one follow -up question regarding fishing licenses and look forward to 
receiving the reply in due course.  
5.46.   In conclusion, the EU would like to once again thank Bahrain f or its constructive engagement 
in this important transparency exercise, demonstrating its commitment to the WTO. We are 
confident that our good cooperation will continue.  
  WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 36 - 
 
  6  CONCLUDING REMARKS BY THE CHAIRPERSON  
6.1.  This fourth  Trade Policy Review of the Kingdom  of Bahrain has given us an excellent 
opportunity to examine the evolution of its trade and related policies over the past seven  years. The 
success of this review has been ensured by the active participation of WTO Members who submitted 
around 150  advance written questions, as well as by the comprehensive reports prepared by the 
Government of Bahrain and the WTO Secretariat.  
6.2.  I would like to express here my great appreciation to the high -level delegation of Bahrain, led 
by H.E.  Mr Zayed Bin Rashid Al  Zayani, Minister of Industry, Commerce and Tourism. In the 
delegation, I recognize my colleague Ambassador, H.E.  Dr Yusuf Abdulkarim Mohammed Bucheeri, 
Permanent Representative of Bahrain to the WTO. My gratitude also goes to our discussant 
Ambassador, H. E. Mr Li Chenggang, Permanent Representative of China to the WTO, for highlighting 
the main developments in Bahrain's trade policies and practices since its previous review, as well as 
the challenges the economy is facing. I would also like to thank the 23  Members who have taken 
the floor.  
6.3.  In his introductory remarks, Minister Al Zayani updated Members on measures being taken for 
the diversification and inclusive development of Bahrain's economy. These include empowerment of 
women and the young; support to SMEs; improvement of the regulatory environment; and 
development of economic sectors such as tourism and healthcare. The Minister also indicated the 
measures being taken by Bahrain to weather a turbulent period of falling oil prices and COVID -19 
pandemic w hich contributed to a 5.1% drop in GDP in 2020.  
6.4.  Members took note of the updates and commended Bahrain on its socio -political stability and 
its openness to trade. They stressed that the strategy to diversify the economy away from 
hydrocarbons was showing signs of success with the services sector now accounting for around 60% 
of GDP. Members acknowledged the important role of trade in Bahrain's economic development, 
with a trade to GDP ratio of invariably over 130%. They urged Bahrain to pursue its reforms which, 
together with the recent measures, would contribute to its economic recovery projected for 2021.  
6.5.  Bahrain was praised for its participation in, and support for, the multilateral trading system. 
The country is actively engaged in various WTO discussi ons and initiatives; it ratified the Trade 
Facilitation Agreement and implemented the related obligations ahead of time. Bahrain was invited 
to consider joining the JSI on Services Domestic Regulation, the Buenos  Aires Declaration on Trade 
and Women's Econ omic Empowerment, the Trade and Environment Sustainability Structured 
Discussions, and the Multi -Party Appeal Arbitration Arrangement. Some Members also urged Bahrain 
to join the Government Procurement Agreement. In this regard, I warmly welcome the Minist er's 
announcement today that Bahrain will formally support the Buenos Aires Declaration of Trade and 
Women's Economic Empowerment; will participate in the Trade and Environmental Sustainability 
Structured Discussions; will seriously consider its access to the GPA, subject to conformity with 
national legislation and practices; and that, Bahrain intends to join as a participant in the JSI on 
Services Domestic Regulation.  
6.6.  While acknowledging Bahrain's good record of fulfilling its WTO notification obligations , 
Members urged it to ensure that all its notifications are fully submitted in a timely manner. Several 
Members welcomed Bahrain's steps to improve the environment for trade and investment by 
removing restrictions to foreign direct investment, streamlining  business licensing and registration 
requirements, introducing reforms to expedite customs clearance, improving its government 
procurement regime, and enacting legislation on competition, anti -money laundering and 
bankruptcy. Some Members also noted that t he absence of corporation taxes and the low costs of 
running a business made Bahrain attractive for investors. Some concerns were expressed about 
excise taxes, on beverages in particular, and about their revisions under consideration at the GCC 
level.  
6.7.  Other areas of interest to Members included future steps in regional integration; the "made in 
Bahrain" initiative; digital transformation of both the public and private sectors; measures to 
promote the fintech industry; and efforts to mitigate climate change .   
6.8.  In conclusion, I would say that this has been a very positive review, with Members 
overwhelmingly highlighting the positive trends since 2014 in terms of the liberalization and WT/TPR/M/419 • The Kingdom of Bahrain  
 
- 37 - 
 
  transformation of Bahrain's economy. Moreover, on the eve of the WTO's Twel fth Ministerial 
Conference, we have heard Members express their appreciation for Bahrain's engagement in the 
WTO and their hopes that it will be deepened even further. Members have appreciated the oral and 
written responses provided by the Bahraini delegat ion to their questions and look forward to 
receiving further written responses to any outstanding and follow up questions within one  month. 
This successfully concludes this TPR of the Kingdom  of Bahrain.  
 
__________