mr. speaker , the house of representatives is today considering a proposed free trade agreement between the united states and bahrain .  i support this agreement , and will vote in favor of the required implementing legislation .  i also anticipate this agreement will enjoy strong bipartisan support in congress .  in general , i have advocated free trade and open markets because i believe that american businesses and workers can compete and win in the global economy .  furthermore , i believe that increasing global interdependence presents our nation with an opportunity to promote democratic reform , the rule of law and respect for basic human rights .  the agreement provides that all bilateral trade in consumer and industrial products will become duty-free immediately , as will 98 percent of u.s. agricultural exports , with the remaining tariffs phased out over 10 years .  textiles and apparel trade will also become duty free immediately for products that contain american or bahraini yarn .  key u.s. service sectors that will benefit under the agreement include audiovisual , express delivery , telecommunications , computer and related services , distribution , healthcare , services incidental to mining , construction , architecture and engineering .  furthermore , on the issue of intellectual property rights , the agreement requires each government to criminalize end-user piracy , providing strong deterrence against piracy and counterfeiting .  beyond the economic benefits that will accrue to the united states , this agreement is an important opportunity to bring increased development , prosperity and stability to a key ally and strategic partner in the region .  not only has bahrain supported and participated in operations enduring freedom and iraqi freedom , as well as the first persian gulf war in 1991 , the country has also served as the host to u.s. naval forces in the middle east for more than 50 years .  this free trade agreement will further strengthen the already close us.-bahrain relationship .  i have and will continue to support free trade agreements that strike the balance of expanding markets for american companies , while also providing a level playing field for american workers and improved living and working conditions for foreign workers by guaranteeing fair wages and basic workplace protections abroad .  i am confident that these goals will be met with respect to bahrain , in part thanks to a number of labor reforms that have been recently implemented by the government .  i will consider future trade agreements one at a time , taking into consideration the specific labor and environmental conditions that exist in the countries we seek to trade with , as well as the provisions included in the agreements to protect workers -- both here and in the other countries -- and environmental concerns .  i will determine my position as those agreements are finalized .  mr. crowley , mr. speaker , i rise today in strong support of the united states bahrain free trade agreement .  as the co chair of the caucus on bahrain with my good friend from wisconsin mr. ryan , we have worked closely to make today reality .  bahrain has been a close friend of the united states for over 100 years and this agreement is taking us to a new level in our friendship .  this friendship is built on trust and respect for each other , so much so that the us navy 's fifth fleet operates in bahrain , a friendly and secure environment for the fleet that watches over a dangerous region .  bahrain continues to lead all gulf nations in political and economic reforms .  they have taken the bold step by rescinding its economic boycott of israel .  this lays the foundation for an economic relationship with israel that will help develop both bahrain and the entire gulf region .  bahrain conducted its first national legislative elections in over 25 years , electing 40 members to the representatives council .  women were not only allowed to vote , they also became the first women in the gulf to run as candidates in national elections .  bahrain is making the necessary changes by amending all provisions of its labor laws that so they are fully compliant with the international labor organization ( ilo ) .  i would like to commend ambassador naser al belooshi for the fine work he has done to iron out some of the labor issues that had held this agreement up .  the ambassador working with the finance minister showed great poise and determination to meet the labor requirements that democrats pushed for before we would support this agreement .  the strong labor provisions that bahrain has agreed to will help u.s. business thrive in bahrain this agreement provides market access for u.s. industrial , agricultural , and consumer products .  the agreement will greatly benefit the services sector and provide u.s. companies with the highest degree of access to service markets of any u.s. fta to date .  financial service companies will have the right to establish subsidiaries , branches , and joint ventures in bahrain .  health and life insurance companies will have market access once this agreement is enacted .  this agreement is the first step in the political and economic reforms for the middle east and i strongly believe the u.s. should continue to work with moderate arab nations such as bahrain to help balance out some of the more extreme elements in today 's middle east .  mr. speaker , i support this agreement and urge all of my colleagues to vote for this bill .  mr. oxley , mr. speaker , i rise in support of the free trade agreement between the united states and bahrain , a country which is and seeks to increase its stature as the 3leading financial center for the middle east .  as chairman of the financial services committee , i want to focus on the benefits to american financial services and economic interests from this agreement .  mr. speaker , as you know , the united states runs a large and growing trade surplus in the services sector .  it was $ 55.9 billion in 2002 and $ 96.1 billion in 2003 .  as the most innovative and competitive country in the world , the united states has a strategic interest in fostering greater opportunities for our financial firms , consultants , accountants , and other high-end service professionals to export their services and products worldwide .  this is not a zero-sum game .  the knowledge transfer from increased american exports of financial and other related services will help people in other countries develop more efficient and economically valuable capabilities , fostering economic growth abroad as well as an increased customer base for american goods and services .  the multiplier effect associated with increased access to capital for foreign firms is also significant .  to the extent that capital formation abroad also encourages growth of stock and bond markets , free trade in financial services can provide good working experience for how decisions can be taken through transparent decision-making processes which are the hallmarks of democracy .  this free trade agreement with the leading financial center in the middle east will substantially open financial services markets in the region for american firms .  at a time when high oil prices are generating large pools of capital in the middle east , we have a strategic interest in making it easier for american financial firms to provide their intermediation services in the region .  we also have a strategic interest in making it easier for middle east investors to become more integrated into the global economy .  bahrain is also a valued ally in our fight against terrorist financing .  it has demonstrated a strong commitment to cooperate with the u.s. on these issues .  bahrain 's anti-money laundering law , passed in 2001 , makes money laundering an extraditable offense .  it has a `` know-your-customer '' standard and requires all financial institution employees to take a course annually on how to implement this law .  in addition , bahrain hosts the newly created middle east and north africa financial action task force , which is the key multilateral group that creates standards throughout the region to fight terrorist financing and money laundering .  