The American Chamber of Commerce in Bahrain (AmCham Bahrain) serves as a crucial bridge between American and Bahraini businesses, providing a platform for dialogue, collaboration and networking. AmCham Bahrain President, Qays H. Zu’bi, spoke to Bahrain This Month to offer his deep insights into this relationship and AmCham’s role in promoting bilateral trade and investment.
“The trade relationship between the United States and Bahrain has seen significant evolution over the years, transitioning from a focus on oil and defence cooperation to a more diverse array of economic interactions,” Mr. Zu’bi states. “This transformation has been marked by the Free Trade Agreement (FTA) between the two nations, which came into effect in 2006. This agreement has been pivotal in enhancing bilateral trade and investment, eliminating tariffs on a vast array of goods and services, while fostering competitiveness in both American and Bahraini businesses.”
By organising trade missions, business forums and networking events, AmCham Bahrain brings together key stakeholders from both nations, thereby creating an environment conducive to investment and growth.
The sectors offering the most promising opportunities for US businesses in Bahrain are diverse and expanding. Mr. Zu’bi highlights the financial services sector, bolstered by Bahrain’s status as a regional financial hub, and the rapidly growing ICT sector, driven by Bahrain’s heavy investment in digital transformation and innovation. The healthcare sector also presents significant potential due to the growing demand for advanced medical services and technologies. Additionally, sectors such as renewable energy, education and tourism are becoming increasingly attractive for US businesses, supported by Bahrain’s strategic location, business-friendly environment and forward-looking economic policies.
Navigating the Bahraini market can pose challenges for American businesses, but AmCham Bahrain offers a comprehensive suite of services to support market entry and growth. “We provide market intelligence, regulatory and compliance guidance, and facilitate connections with key stakeholders,” Mr. Zu’bi explains. “These services help American companies understand the local business landscape, navigate local laws and regulations, and connect with potential partners, clients and government officials.”
One of the significant impacts of the FTA has been the substantial boost in bilateral trade. US exports to Bahrain and Bahraini exports to the US have increased significantly, facilitated by the elimination of tariffs on a wide range of goods and services. “The FTA has strengthened economic cooperation, paving the way for joint ventures and collaborative projects in various sectors,” Mr. Zu’bi observes. This agreement has also encouraged investment, with many American companies establishing operations in Bahrain and vice versa.
AmCham Bahrain actively engages in initiatives to enhance economic ties between the US and Bahrain to foster a collaborative and supportive business environment. These include organising trade missions to the United States, promoting collaboration in sectors like ICT and renewable energy and strengthening ties with key stakeholders, including government agencies, industry associations and educational institutions.
Networking and collaboration are at the heart of AmCham Bahrain’s mission. “We organise a wide range of events, including business luncheons, industry forums and social gatherings, providing members with ample opportunities to connect and collaborate,” Mr. Zu’bi says. “The chamber also facilitates sector-specific working groups, enabling members to share insights and best practices and offers online platforms for continuous interaction and collaboration.”
For aspiring entrepreneurs, Mr. Zu’bi advises thorough research of the local market and identification of high-growth sectors. “Leveraging the support services offered by institutions like AmCham Bahrain can be invaluable,” he emphasises. “Building strong local partnerships and understanding cultural nuances are also critical to success.”
