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News & Events>> Pharmaceutical Research and Manufacturers of America Laud the Successful Conclusion of Bahrain-US Free Trade Talks
27 May, 2004 Reads:3494
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Today’s U.S./Bahrain Free Trade Agreement sets an excellent precedent for the Gulf Cooperation Council (GCC) region, said the Pharmaceutical Research and Manufacturers of America (PhRMA) in response to the United States Trade Representative’s announcement of the agreement’s conclusion.
The free trade agreement supports economic diversification, contributes to economic growth in Bahrain, serves as a model for GCC-wide trade, and clarifies strong legal standards for protecting intellectual property (including patent term restoration for time lost to bureaucratic delay, effective protection of confidential clinical dossiers, and linkage between patent and regulatory authorities). It benefits both patients in Bahrain and innovative industries.
“Today’s agreement provides a cornerstone in the Gulf on which to build a broader Middle East free trade region. It follows excellent precedents set in U.S. free trade agreements with Morocco and Jordan, “ noted Shannon S. S. Herzfeld, Senior Vice President, International Affairs, PhRMA.
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