AhlulBayt News Agency - The local Bahraini Al-Wasat newspaper reported that more than 4,000 employees who work in the ready-made clothing industry in Bahrain risk losing their jobs by the end of the period of exemption from US customs duties by July, 2016.
Al-Wasat noted that there are three made-ready clothing manufacturers with more than 500 Bahraini and 3,900 foreign employees that may be shut down if the period of US customs duties exemption isn't extended. Bahraini factories have been enjoying this duty-free period over the past 10 years based on a free trade agreement signed in 2008.
After annulling this preferential tariff treatment, Bahraini manufacturers will have to pay between 18 and 24 percent of export value, and thus increase costs, making these companies lose their competitive advantage.
The "Made in Bahrain" mark reaches various US stores, including Walmart and Macy's store chains, yet after Bahraini manufacturers lose their preferential trade treatment, Bahraini products will no longer be seen in US stores. It is noteworthy that the United States is the main market for clothing manufacturers in Bahrain.
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source : Bahrain Media
Tuesday
12 April 2016
9:06:17 AM
746782
The local Bahraini Al-Wasat newspaper reported that more than 4,000 employees who work in the ready-made clothing industry in Bahrain risk losing their jobs by the end of the period of exemption from US customs duties by July, 2016.