Garment manufacturers of the country have requested to implement Free Trade Agreement (FTA) soon because any delay may result in 4,000 job loss.
Under FTA, manufacturers get duty concessions, which will support speedy revival of the ailing factories, informed Harinder Singh Lamba, Vice-Chairman, Bahrain Chamber of Commerce and Industry Readymade Garments and Textiles Committee.
Labour cost in Bahrain is very high, and to compete with Far East countries, India and Egypt, country's manufacturers must get duty concession which lower down manufacturing cost and make product competitive in the global market.
Lamba said that labour cost in Bahrain is very high that of India and Egypt. In Egypt cost per person is US$ 60, in India $80 where as in Bahrain it is as high as $400.
Only duty concessions can help to cope with this problem as it offers 18 to 33 percent allowance.
Main purpose to promote FTA is to boost the country's export with competitive products.
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