The Bahrain Economic Development Board recently completed a successful visit to the United States to promote investment opportunities. The visit, led by Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of Bahrain EDB, included roundtable sessions and meetings with US-based companies in various sectors such as financial services, ICT, and manufacturing. The delegation participated in events programmed by Economist Impact in Austin, Texas, and New York City, focusing on topics like digital assets and global supply chain resilience. Bahrain and the US have a strong trade relationship, with non-oil trade reaching USD 2 billion and US exports to Bahrain increasing by 84% from 2020 to 2023.
The Comprehensive Security Integration and Prosperity Agreement between Bahrain and the US aims to enhance cooperation in defence, security, science, trade, and technology. The establishment of the Free Trade Agreement in 2006 has led to significant growth in trade between the two countries. Bahrain inaugurated the US Trade Zone in 2022 to attract US manufacturing and logistics companies, with notable companies like Amazon Web Services, Mondelez, and Citi setting up operations in Bahrain. Amazon Web Services has established the region’s first hyper-scale data center in Bahrain, while Mondelez operates a factory exporting products to Australia and New Zealand. Citi plans to hire 1,000 coders for its Global Technology Hub in Bahrain, highlighting the Kingdom’s appeal as a regional investment destination.
The visit to the US by Bahrain EDB aimed to showcase Bahrain as an attractive investment destination and promote opportunities for collaboration with US companies across various sectors. The roundtable discussions and panel sessions focused on current trends and best practices in areas like digital assets, global supply chain resilience, and talent development for future economic growth. The collaboration between Bahrain and the US in defence, security, science, and trade is expected to further strengthen bilateral ties and boost economic cooperation between the two countries.
The partnership between Bahrain and the US has resulted in increased trade, with non-oil trade reaching USD 2 billion and US exports to Bahrain experiencing significant growth over the years. The establishment of the US Trade Zone in Bahrain has attracted several American companies, contributing to the Kingdom’s reputation as a prime investment destination in the region. Companies like Amazon Web Services, Mondelez, and Citi have set up operations in Bahrain, leveraging the strategic location and business-friendly environment to expand their presence in the Middle East.
The recent Comprehensive Security Integration and Prosperity Agreement between Bahrain and the US outlines areas of cooperation in defence, security, science, trade, and technology. This agreement is expected to further enhance bilateral ties and create new opportunities for collaboration between the two countries. The Free Trade Agreement established in 2006 has been instrumental in boosting trade between Bahrain and the US, with both countries benefiting from increased economic activity and investment opportunities. Bahrain’s efforts to attract US companies through initiatives like the US Trade Zone have been successful, with companies like Amazon Web Services, Mondelez, and Citi making significant investments in the Kingdom.
In conclusion, the visit by Bahrain EDB to the United States has been instrumental in promoting investment opportunities and strengthening economic ties between Bahrain and the US. The collaboration between the two countries in areas like defence, security, trade, and technology is expected to create new avenues for cooperation and drive economic growth. The establishment of the US Trade Zone in Bahrain has attracted several American companies, highlighting the Kingdom’s appeal as a regional investment destination. With initiatives like the Comprehensive Security Integration and Prosperity Agreement and the Free Trade Agreement in place, Bahrain and the US are well-positioned to further enhance their economic partnership and capitalize on mutual benefits.
