KING DISCUSSES TRADE, INVESTMENT WITH AMCHAM

C O N F I D E N T I A L MANAMA 001413

SIPDIS

E.O. 12958: DECL: 10/02/2015
TAGS: PREL ETRD ECON BEXP PGOV BA
SUBJECT: KING DISCUSSES TRADE, INVESTMENT WITH AMCHAM


Classified By: Ambassador William T. Monroe, reasons 1.4 (b) and (d)


1. (C) The Ambassador introduced the members of the board of
the American Chamber of Commerce in Bahrain to King Hamad in
a September 14 meeting that covered the U.S.-Bahrain Free
Trade Agreement (FTA),Saudi WTO accession, investment in
Bahrain, and economic reform. The King told the delegation
that the FTA was a very positive development for both
countries and represented a logical outcome of Bahrain's
traditional openness to outside trade and investment. He
said that the FTA had acted as a catalyst to spur Saudi
Arabia to conclude negotiations with the U.S. on WTO
accession. Growing receptivity in the Gulf to liberalize
trade with the U.S. left Saudi Arabia with no alternative
than to make the commitments necessary to win U.S. support
for accession.


2. (SBU) The King said he wanted more Bahraini citizens to
invest in Bahrain. Referring to Bahraini businessman and
AmCham board member Khalid Al Zayani, the King said that Al
Zayani was one of the few Bahrainis investing in his own
country. Many of the other investors were from the outside.
(Note: Mostly citizens from other GCC countries.) He noted
that the government was taking steps to improve the
investment climate in Bahrain.


3. (SBU) The King urged AmCham and broader Bahraini business
support for GOB reforms. "The more businessmen can help us,
the better it will be for them." AmCham President and
Microsoft Country Manager Samir Benmakhlouf stated that
Microsoft's local revenues had multiplied threefold since his
arrival a few years earlier. The King responded that
Microsoft's performance was commendable and symbolized the
favorability of Bahrain's investment climate.


4. (SBU) The King praised strong U.S.-Bahraini bilateral
relations and mentioned the "admiration and affection"
Bahrainis feel for the United States. The King expressed his
condolences for the devastation caused by Hurricane Katrina,
saying, "what hurts you, hurts us."

MONROE