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HP Urges Congress to Pass U.S.-Bahrain
Trade Agreement to Grow Business
Excerpts of Testimony before U.S. Senate Finance International Trade Subcommittee by Megan Aslaksen, HP Specialist for Global Trade
For Immediate Release: October 6, 2005
“For HP and other American companies, this is a great opportunity for us to share our innovative, life-enhancing products and services with people yearning for cutting-edge technologies on the other side of the globe...
“In an attempt to diversify its economy, Bahrain has established itself as a center for banking, information technology, telecommunications and health care. HP looks forward to winning support for this FTA in Congress so we can then be able to expand our market access to this region with such a need for our innovative solutions…The Agreement will benefit both countries by helping to spur economic growth and improve employment opportunities for the people of the United States and Bahrain…
“Under the agreement, Bahrain will immediately eliminate import taxes on most technology products, which will increase U.S. competitiveness in the region. For example, qualifying goods like PCs, printers, digital cameras and handheld devices will enter the Kingdom at zero duty. U.S. exporters, like HP, will also benefit from commitments by Bahrain to modernize customs procedures…
“As an industry leader and the top provider in the Middle East/North Africa region of innovative technological solutions, this Agreement represents an important business opportunity for HP abroad and at home.”
About HP
HP is a technology solutions provider to consumers, businesses and institutions globally. The company’s offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended Jan. 31, 2005, HP revenue totaled $81.8 billion. More information about HP (NYSE, Nasdaq: HPQ) is available at http://www.hp.com.
© 2005 Hewlett-Packard Development Company, L.P.
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