EDB Chief: Private sector must realize Bahrain-US FTA

Bahrain's Economic Development Board (EDB) chief executive Sheikh Mohammed bin Isa Al Khalifa recently urged businessmen to seize the opportunities being offered by Bahrain's Free Trade Agreement with the US.

"The ball is now firmly in the private sector's court," he said, adding that the EDB will form a committee to oversee the agreement but that it was up to the private sector to realize its benefits.

"If the private sector doesn't take advantage of it, the FTA will just remain on paper," he said, according to Gulf News.

Mohammed stressed that Bahrain was in a unique position in the Gulf due to the FTA with the US.

The EDB chief recently returned from a six-day trade trip to the US as part of a 14-member delegation which met with representatives of the US government and the private sector.

Samir Benmakhlouf, president of the Bahrain American Chamber of Commerce (AmCham), said that other similar trade missions will be organized in the near future.

"These missions will be more specialized, focusing on specific sectors and visiting different cities," he said.

He added that areas in which Bahrain can attract US business contracts include finance, tourism, aluminum, oil and the services sector.

"Any company wishing to establish links with the US can approach the Bahrain AmCham. While members get priority, businesses don't necessarily have to be members in order to receive our support," he continued.