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The American Chamber of Commerce in Bahrain (AmCham) organized a luncheon in honor of the US Undersecretary of Commerce for International Trade, H.E. Francisco Sanchez, who is was on a visit to Bahrain. The event was attended by the US Ambassador Mr. Adam Ereli and embassy official, a representative from Bahrain Economic Development Board, , and over 30 attendees from the local business community.
The event was an opportunity for AmCham members to meet Mr. Sanchez and exchange views, in light of the Free Trade Agreement (FTA), which was signed between the United States and Bahrain five years ago.
In his speech during the event, Mr. Sanchez said that American businessmen were looking at opportunities for investment in Bahrain’s market, which he described as “promising”, with the aim to benefit from the FTA agreement signed with Bahrain.
Mr. Adel Al Safar, President of AmCham Bahrain said: ”We welcome Mr. Sanchez, this is an excellent opportunity for us to exchange views to support cooperation between US and Bahrain businesses”.
He also thanked American Express, who are an active founding member of AmCham Bahrain, have sponsored this event as part of their support for AmCham activities.
In his speech, Mr. Adel Al Safar spoke about the recent initiative by AmCham Bahrain for a Bahraini business delegation, which he headed, to visit Kurdistan region in Iraq (Irbil, Dohouk and Sulaimaniya). The delegation explored business opportunities and the possibilities of establishing joint commercial and investment projects.
The visit resulted in establishing 3 branches of American companies in Bahrain, specializing in logistics suppot, services provision and transportation to the Kurdistan region, which will be considered a headquarters for supplies.
Mr. Al Safar stressed that Kurdistan region and Irbil area enjoy safety and security and that Irbil has the potential to e the commercial gateway to Iraq, adding that the next visit will be organized in January 2011 with the aim to reach final decision to start investment.