Washington D.C. (PRWEB) March 9, 2007
In early March, the United States-Bahrain Business Council (USBBC) will receive the Crown Prince of Bahrain, Shaikh Salman Bin Hamad Al-Khalifa, accompanied by a business delegation from the American Chamber of Commerce in Bahrain. His Highness Shaikh Hamad Al-Khalifa will visit the U.S. Chamber of Commerce to discuss the growing economic alliance between the two nations that has been strengthened by the U.S.-Bahrain Free Trade Agreement.
The Crown Prince's visit comes at a time when levels of U.S.-Bahrain trade are higher than ever. The recent implementation of the FTA between the Bahrain and the United States in August 2006 opened the door to greater trade opportunities between the two nations. In the five months since the agreement was adopted, U.S.-Bahrain trade has increased over 40 percent and was reported by the U.S. Department of Commerce to exceed $1.1 billion in total for 2006.
"The initial success of the U.S.-Bahrain FTA is a perfect example of how comprehensive trade agreements between countries can stimulate bilateral trade and investment," noted Daeman Harris, the U.S. Chamber's Director for Middle East and Africa Affairs.
Bahrain is a thriving economy poised for future growth and prosperity. Although Bahrain was the first country in the Middle East region to discover the presence of oil, Bahrain has taken significant strides to diversify its economy to include other industries. Bahrain now has a wealth of commercial opportunities in a variety of sectors, as well as many incentives for American companies. An ideal "Gateway to the Gulf," Bahrain offers no corporate, personal, value-added, or withholding tax, no restriction on repatriation of capital, profits or dividends, as well as an inflation rate under 2 percent per year.
In order to further business relations, the USBBC was created for the promotion of trade and investment between the two countries. As a consortium for business members from both nations, the USBBC allows American and Bahraini entrepreneurs to take advantage of the many benefits of mutual commerce. The USBBC provides valuable information for any U.S.- or Bahrain-based company looking to capitalize on the FTA.
For more information, please see http://www.usbahrainbusiness.org, the recently launched website created by Washington DC-based Unison Agency. The USBBC has engaged Unison for a dynamic branding and website campaign as part of efforts to establish its identity and increase outreach to potential Council members.