U.S.-ARAB CHAMBER OF COMMERCE SUPPORTS
BUSINESS INITIATIVES IN QATAR, BAHRAIN
The National U.S.-Arab Chamber of Commerce (NUSACC) wrapped up visits this week to the State of Qatar and the Kingdom of Bahrain to promote trade and investment initiatives in both nations. The Chamber's Executive Vice President, Curt Silvers, attended the Qatar International Exhibition for Transport and Logistics (TRANS4), as well as the coinciding GCC Transport and Railways Conference, held October 17 and 18 in Doha. Silvers then represented the U.S.-Arab Chamber at the "Invest in Bahrain" Forum held in Manama on October 19.
Multimodal Events in Qatar
The TRANS4 expo, the first of its kind in Qatar, brought together senior government decision makers and industry leaders to explore new technologies, products, services, and solutions in the transportation and logistics sector. TRANS4 provided a professional platform for transportation and logistics industry leaders from around the world to showcase their latest products and technologies to highly qualified trade visitors and interact with Qatari decision-makers in all areas of the transportation and logistics industry.
The National U.S.-Arab Chamber of Commerce, in cooperation with the U.S.-Qatar Business Council, hosted a booth at the expo. Some of the U.S. companies that were featured at the NUSACC booth included such industry leaders as AECOM, Booz Allen Hamilton, FedEx, and Parsons Brinckerhoff.
With investments of more than $200 billion already allocated to the development of land transport, especially rail networks, Qatar has now entered into a new and vital phase in the completion of basic infrastructure for economic growth and commercial integration of the region. Railway and metro projects for freight and passengers top the list of transport projects, with total investments exceeding $100 billion.
According to research conducted by the National U.S.-Arab Chamber of Commerce, Qatar's Real Gross Domestic Product is on track to grow 21 percent this year, the fastest in the world. Qatar is America's fourth largest export destination in the Arab world, with U.S. goods and services exceeding $3 billion in 2010.
At a gala welcome dinner on Monday, October 17, H.E. Sheikh Hamad Bin Jassim Bin Jabr Al Thani, Prime Minister and Minister of Foreign Affairs for the State of Qatar, invited foreign companies to come to Qatar to participate in the tremendous opportunities available in that nation.
"Many countries were exhibiting their wares," said NUSACC's Silvers, "including the Russian National Railway. But American firms are clearly in great demand for their products and expertise, especially in the freight rail sector."
Invest in Bahrain 2011
Under the patronage of H.R.H. Prince Khalifa Bin Salman Al Khalifa, Bahrain's Prime Minister, the "Invest in Bahrain Forum" was held in Manama on October 19. The U.S.-Arab Chamber of Commerce was represented by its Executive Vice President, Curt Silvers.
In his opening remarks, H.E. Dr. Hassan Fahkro, Bahrain's Minister of Industry and Commerce, highlighted the fact that Bahrain's "robust new business starts and industrial development since the beginning of the year are a clear testament to international investors' continued confidence -- both in the Bahrain economy, and in Bahrain as a base for conducting regional business."
In related welcoming remarks, H.E. Sheikh Mohammed Bin Essa Al-Khalifa, Chief Executive of Bahrain's Economic Development Board (EDB), noted that Bahrain's economy is "built on firm foundations… is the most diversified economy in the Gulf, boasts the most liberal business environment in the GCC … [and] offers the ideal gateway to the trillion dollar Gulf market." The EDB is responsible for formulating and overseeing the economic development strategy of Bahrain and for creating the right climate to attract direct investment into the Kingdom.
Other distinguished speakers included: H.E. Dr. Essam Bin Abdulla Fakhro, Chairman of the Bahrain Chamber of Commerce and Industry; H.E. Adnan Kassar, President of the General Union of Arab Chambers of Commerce, Industry, and Agriculture; and H.E. Khalil Bin Abdullah Al Khonji, Vice Chairman of the Federation of GCC Chambers and Chairman of the Oman Chamber of Commerce and Industry. All speakers stressed the continuing importance of Bahrain to GCC economic development and growth, as well as the pressing need for continued work toward regional economic integration.
A total of 140 industrial projects, with an estimated value of 747 million Bahraini Dinars ($1.98 billion), have been approved by the Ministry of Industry and Commerce since the beginning of 2011. Over the last few years, manufacturing output in Bahrain has increased by 40 percent, and the manufacturing sector is now larger than the oil extraction industry. Other investment opportunities include the food and beverage industries, electrical machinery, and fabricated metal.
NUSACC's Curt Silvers pointed to the Bahrain-U.S. Free Trade Agreement (FTA), which makes Bahrain especially attractive to American businesses as a gateway to the region. "The FTA eliminates all tariffs between our two nations over time," he said, "paving the way for even closer commercial relations between Bahrain and the United States. Our Chamber, in cooperation with the Bahrain Chamber of Commerce & Industry, looks forward to opening new doors to mutual trade and investment in the months ahead."
Multimodal Events in Qatar
The TRANS4 expo, the first of its kind in Qatar, brought together senior government decision makers and industry leaders to explore new technologies, products, services, and solutions in the transportation and logistics sector. TRANS4 provided a professional platform for transportation and logistics industry leaders from around the world to showcase their latest products and technologies to highly qualified trade visitors and interact with Qatari decision-makers in all areas of the transportation and logistics industry.
The National U.S.-Arab Chamber of Commerce, in cooperation with the U.S.-Qatar Business Council, hosted a booth at the expo. Some of the U.S. companies that were featured at the NUSACC booth included such industry leaders as AECOM, Booz Allen Hamilton, FedEx, and Parsons Brinckerhoff.
With investments of more than $200 billion already allocated to the development of land transport, especially rail networks, Qatar has now entered into a new and vital phase in the completion of basic infrastructure for economic growth and commercial integration of the region. Railway and metro projects for freight and passengers top the list of transport projects, with total investments exceeding $100 billion.
According to research conducted by the National U.S.-Arab Chamber of Commerce, Qatar's Real Gross Domestic Product is on track to grow 21 percent this year, the fastest in the world. Qatar is America's fourth largest export destination in the Arab world, with U.S. goods and services exceeding $3 billion in 2010.
At a gala welcome dinner on Monday, October 17, H.E. Sheikh Hamad Bin Jassim Bin Jabr Al Thani, Prime Minister and Minister of Foreign Affairs for the State of Qatar, invited foreign companies to come to Qatar to participate in the tremendous opportunities available in that nation.
"Many countries were exhibiting their wares," said NUSACC's Silvers, "including the Russian National Railway. But American firms are clearly in great demand for their products and expertise, especially in the freight rail sector."
Invest in Bahrain 2011
Under the patronage of H.R.H. Prince Khalifa Bin Salman Al Khalifa, Bahrain's Prime Minister, the "Invest in Bahrain Forum" was held in Manama on October 19. The U.S.-Arab Chamber of Commerce was represented by its Executive Vice President, Curt Silvers.
In his opening remarks, H.E. Dr. Hassan Fahkro, Bahrain's Minister of Industry and Commerce, highlighted the fact that Bahrain's "robust new business starts and industrial development since the beginning of the year are a clear testament to international investors' continued confidence -- both in the Bahrain economy, and in Bahrain as a base for conducting regional business."
In related welcoming remarks, H.E. Sheikh Mohammed Bin Essa Al-Khalifa, Chief Executive of Bahrain's Economic Development Board (EDB), noted that Bahrain's economy is "built on firm foundations… is the most diversified economy in the Gulf, boasts the most liberal business environment in the GCC … [and] offers the ideal gateway to the trillion dollar Gulf market." The EDB is responsible for formulating and overseeing the economic development strategy of Bahrain and for creating the right climate to attract direct investment into the Kingdom.
Other distinguished speakers included: H.E. Dr. Essam Bin Abdulla Fakhro, Chairman of the Bahrain Chamber of Commerce and Industry; H.E. Adnan Kassar, President of the General Union of Arab Chambers of Commerce, Industry, and Agriculture; and H.E. Khalil Bin Abdullah Al Khonji, Vice Chairman of the Federation of GCC Chambers and Chairman of the Oman Chamber of Commerce and Industry. All speakers stressed the continuing importance of Bahrain to GCC economic development and growth, as well as the pressing need for continued work toward regional economic integration.
A total of 140 industrial projects, with an estimated value of 747 million Bahraini Dinars ($1.98 billion), have been approved by the Ministry of Industry and Commerce since the beginning of 2011. Over the last few years, manufacturing output in Bahrain has increased by 40 percent, and the manufacturing sector is now larger than the oil extraction industry. Other investment opportunities include the food and beverage industries, electrical machinery, and fabricated metal.
NUSACC's Curt Silvers pointed to the Bahrain-U.S. Free Trade Agreement (FTA), which makes Bahrain especially attractive to American businesses as a gateway to the region. "The FTA eliminates all tariffs between our two nations over time," he said, "paving the way for even closer commercial relations between Bahrain and the United States. Our Chamber, in cooperation with the Bahrain Chamber of Commerce & Industry, looks forward to opening new doors to mutual trade and investment in the months ahead."
