Five Years of the U.S.-Bahrain Business Council
June 11, 2012 § Leave a comment
Last month at the Embassy in Washington, I hosted a reception honoring the five year anniversary of the U.S.-Bahrain Business Council. Throughout its existence, the Council has served as a crucial conduit to build and enhance commercial ties between the United States and Bahrain.
Our two countries have shared an important commercial partnership over many decades. In 1932, an American company named SOCAL first discovered oil on the Arab side of the Arabian Gulf. Today, Bahrain is home to many American companies – including Occidental Petroleum and MetLife. In 2005, Bahrain became the first country in the Gulf to sign a Free Trade Agreement with the United States. Since then, trade between our two countries has grown considerably. Bahrain is now a major importer of American goods and services and Bahraini exports to the United States total nearly $500 million per year.
Over the next few months, the Council will continue to highlight the myriad opportunities available to American companies in Bahrain made possible by our FTA. From time to time, we will also highlight members of the Council and share their experiences in Bahrain. If you are interested in joining or learning more about the Council, please visit its website.