AmCham names new board
TDT | Manama
The Daily Tribune – www.newsofbahrain.com
The American Chamber of Commerce in Bahrain (AmCham Bahrain) announced electing new Board, officers following its recent election at its virtually held Annual General Meeting.
Qays Al Zu’bi was unanimously re-elected for a new two-year term. Commenting on the election, Zu’bi said, “We will continue to extend AmCham’s contribution to promoting US-Bahrain’s trade growth, while also promoting the legitimate economic interests of AmCham members.”
US Charge’ d’ Affaires, Maggie Nardi, said: “The strength of the US-Bahrain bilateral relationship rests on free trade and shared prosperity, and AmCham plays a pivotal role in promoting new business and investment opportunities for American, Bahraini, and other international companies.”
The US-Bahrain Free Trade Agreement also marks its 15th anniversary this year. To mark this milestone, AmCham, in cooperation with the US Embassy, local associations, and other government bodies will highlight the shared economic success the FTA has allowed.
Bilateral trade of goods between Bahrain and the US has more than tripled from $782 million in 2005 to $2.46 billion in 2019. Zu’bi said, “The impact of COVID-19 made 2020 a challenging year for global trade and businesses everywhere.
Bilateral trade of goods between the US and Bahrain decreased 38% from $2.46 bn in 2019 to $1.52 b in 2020, but I have faith the trade between the US and Bahrain will return to past high levels and increase to new highs going forward.”
On AmCham’s objectives, Zu’bi said, “key to our objectives these coming two years is to continue to help our members navigate emerging challenges and opportunities.
To do this, we will launch industry focus groups for our members to identify, discuss and pursue common interests regarding their sector and businesses.” This newly formed Board is AmCham’s most diverse and representative Board since the organisation was formed in 2005.
The directors represent all major industry sectors in Bahrain, including finance, manufacturing, oil & gas, education, ICT, tourism, real estate development, logistics, communications, legal & professional services.
The Board is evenly balanced between American and Bahraini companies, large multinationals, and SMEs, reflecting AmCham’s mission to increase bilateral trade and commercial opportunities. Additionally, nearly 40% – 6 out of 16 seats – are held by women, and 7 of the 12 elected directors are new to the Board.