Manama, October 4 (BNA) Chargé d’Affairs at the US Embassy in Bahrain, Margaret Nardi, expressed her optimism about the future of relations between the two countries and the deepening of partnerships across sectors between them.
She said as the two countries celebrate the 15th anniversary of the US-Bahrain Free Trade Agreement (FTA), a cornerstone of bilateral economic relations.
Trade between our two countries reached $3 billion in 2018, the highest number reported in the history of the FTA, following the sale of Boeing 787-9 Dreamliners to support Gulf Air’s preparations to resume direct flights to the United States.
She said that although the global economic slowdown caused by the pandemic reduced bilateral trade to $1.5 billion in 2020, the total trade between the United States and Bahrain reached nearly $1 billion in the first half of 2021.
The FTA has consistently generated annual bilateral trade volumes in excess of $1 billion over the past 15 years.
She added that according to the latest statistics of the US Department of Commerce for 2020, the United States invested more than $570 million in Bahrain, more than three times the balance of foreign direct investment of $161 million in 2016.
“Similarly, Bahrain invested $365 million in the United States, up from $190 million in 2018. The influx of Bahraini foreign investment into the United States supports more than 8,600 American jobs in the communications, information technology, and heavy metals industries.”
To mark the anniversary, the Embassy is organizing Discover America Week on October 3-7 which will provide an opportunity for the US Embassy in Bahrain, the American Chamber of Commerce, and friends and partners in Bahrain to highlight the two-way economic benefits of fostering strong and deep partnerships across sectors between the two countries.
“Through Discover America Week activities, we will have the opportunity to explore the diversity of American franchises and iconic brands, as well as discover new opportunities in the tourism, health, energy and automotive sectors that create jobs and boost economic prosperity for Bahraini citizens and residents,” Nardi said.
Discover America Week 2021 will also promote the opening of new American franchises in Bahrain’s booming hospitality sector, including Chili’s and Papa John’s, which are opening new stores in Manama, and the Hilton, which will open a new hotel in Bahrain Bay. The companies showcase famous American brands that employ employees and contribute to Bahrain’s economic success and the expansion of its tourism sector.”
In partnership with the Bahrain Sustainable Energy Authority, the US Embassy will host a virtual presentation on emerging investment opportunities in solar, wind and waste-to-energy projects.
To further expand bilateral relations under the FTA, the Embassy will launch virtual information sessions on the process for obtaining non-immigrant visitor and business visas, as well as a separate webinar on educational opportunities and how to pursue studies in the United States.
The Embassy, in cooperation with the American Chamber of Commerce, will present a virtual webinar to explain Bahrain’s new health system, Sehaty, and explore investment opportunities for US insurance providers.
Although the COVID-19 pandemic restrictions on mass gatherings are eased, most public programs will be virtual, easily accessible via the US Embassy’s Instagram, Twitter, Facebook and YouTube accounts.