Identifier
Created
Classification
Origin
06MANAMA505
2006-03-27 13:24:00
UNCLASSIFIED//FOR OFFICIAL USE ONLY
Embassy Manama
Cable title:  

MINISTER OF INDUSTRY AND COMMERCE APPLAUDS U.S.

Tags:  EIND EINV ETRD ECON BA ECTRD OFFICIALS 
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UNCLAS MANAMA 000505 

SIPDIS

SENSITIVE
SIPDIS

NEA/ARP, NEA/PI, AND EB/CBA FOR BBEHRENS
COMMERCE FOR JFILPI AND KSHAH

E.O. 12958: N/A
TAGS: EIND EINV ETRD ECON BA ECTRD OFFICIALS
SUBJECT: MINISTER OF INDUSTRY AND COMMERCE APPLAUDS U.S.
COMMERCIAL LAW PROGRAM

Sensitive but unclassified; please protect accordingly. Not
for Internet distribution.

UNCLAS MANAMA 000505

SIPDIS

SENSITIVE
SIPDIS

NEA/ARP, NEA/PI, AND EB/CBA FOR BBEHRENS
COMMERCE FOR JFILPI AND KSHAH

E.O. 12958: N/A
TAGS: EIND EINV ETRD ECON BA ECTRD OFFICIALS
SUBJECT: MINISTER OF INDUSTRY AND COMMERCE APPLAUDS U.S.
COMMERCIAL LAW PROGRAM

Sensitive but unclassified; please protect accordingly. Not
for Internet distribution.


1. Minister of Industry and Commerce Hassan Fakhro met with
Ambassador Monroe, Commercial Law Development Program (CLDP)
Attorney Advisor James Filpi and International Trade
Specialist Kamlesh Shah March 15 to discuss CLDP's progress
in Bahrain. Filpi told Fakhro he had met with Economic
Development Board Deputy CEO Dr. Zakariya Hejris that morning
and that Hejris had expressed interest in seeing CLDP review
Bahrain's commercial code and support small and medium-sized
enterprises (SMEs) with FTA workshops tailored to Bahrain's
business and legal communities.


2. "I welcome it," Fakhro responded. "I am full of praise
for you and your efforts." Fakhro said maximum attention
should be given to small investors in Bahrain and that, in
view of their relative rates of return on investment and job
creation, development of SMEs merited top priority. Fakhro
said that approved industrial sector investments in 2004 of
USD 450 million had doubled in 2005 to roughly USD 900
million. He said aluminum, plastics, and petrochemical
companies saw the majority of this investment and that most
were SMEs. He added that further growth could be spurred by
increased availability of gas. (Note: Local AmCham President
and chairman of Al Zayani Investments Khalid Al Zayani told
the Ambassador that a major factor contributing to the
increase in investment was that Alba's new leadership had
taken the decision to switch from exporting all aluminum to
selling, as supported by demand, to the domestic market. He
said he had taken advantage of the sudden domestic
availability of aluminum product to source a factory of his
that makes and exports aluminum-based cable. End Note.)


3. Fakhro said he anticipated the passage of a revised
Companies Law that would promote commercial development and
foreign direct investment in Bahrain. He expected the
revised law to be copied by Bahrain's neighbors and said he
hoped it would lead to further commercial development in the
region.

MONROE