First trade & investment mission to the USA completes successfully
AMEInfo, UAE
First trade & investment mission to the USA completes successfully
19 December 2005
Bahrain: A 14-member delegation from the Bahrain American Chamber of Commerce has returned after a successful trade mission to the US.
The delegation promoted the investment opportunities existing in Bahrain to U.S. businesses and the Free Trade Agreement (FTA) between Bahrain and the US. AmCham in Bahrain organized the trade mission with the help of the U.S. AmCham in Washington, the National Arab U.S. Chamber of Commerce based in the U.S. and the Bahraini embassy in the United States.
The delegation led by Shaikh Mohammed bin Isa Al Khalifa, Chief Executive Officer (CEO) of the Economic Development Board (EDB), spent 3 days in Washington during which they met with Office of the U.S. Trade Representative, the International Franchise Association, the National US Arab Chamber, the U.S. Department of Commerce, the U.S. Department of State and Congressional representatives. In Washington DC, the delegation attended a luncheon hosted by the US American Chamber of Commerce, where more than 120 persons from the business community in the capital came to learn more about how to do business in Bahrain and how the Kingdom can be the hub of the region.
While the delegation was in the US, the US House of Representatives passed the Free Trade Agreement (FTA) between Bahrain and the United States with a 77.5% majority on Wednesday 7 December 2005.
’We were proud to learn that the US House of Representatives passed the FTA with such a large percentage especially while we were in the US’, commented Samir Benmakhlouf, President of AmCham. ’Now we will start to see doors of new markets opening to businesses in Bahrain who will find opportunities in different sectors with the FTA as a major facilitator’, added Benmakhlouf.
H.E. Dr. Naser Al Belooshi, Ambassador of the Kingdom of Bahrain to the United States hosted a reception and dinner at the embassy in Washington, DC in appreciation to all the efforts exerted to the passing of the FTA between Bahrain and the United States. A total of 100 people from the Government and Business community in Washington DC attended the dinner. For his part, Samir Benmakhlouf, President of AmCham presented a gift to David Hamod, president of the National US Arab Chamber for his efforts in strengthening trade relations between the US and Bahrain.
During the delegation’s visit to New York, Jeffrey Eubank Vice President of the New York Stock Exchange gave tokens of appreciation to Shaikh Mohamed bin Isa Al Khalifa and to Dr. Mohammed Al Ghattam, chairman of Telecommunication Regulation Authority who represent the Government of Bahrain in the signing of the FTA with the US. This took place during the delegation’s visit to the New York Exchange which revolved around how to get Bahraini companies to be listed in the NY Stock Exchange
’This visit will not be the only one Bahrain AmCham plans to the US. In light of the FTA between Bahrain and the United States, more such visits will be organized in the near future so as to help facilitate business opportunities for companies of different sectors in the kingdom’, Mr. Benmakhlouf concluded.
