US embassy cable - 05MANAMA1413

C O N F I D E N T I A L MANAMA 001413 
 
SIPDIS 
 
E.O. 12958: DECL: 10/02/2015 
TAGS: PREL, ETRD, ECON, BEXP, PGOV, BA 
SUBJECT: KING DISCUSSES TRADE, INVESTMENT WITH AMCHAM 
 
 
Classified By: Ambassador William T. Monroe, reasons 1.4 (b) and (d) 
 
1. (C) The Ambassador introduced the members of the board of 
the American Chamber of Commerce in Bahrain to King Hamad in 
a September 14 meeting that covered the U.S.-Bahrain Free 
Trade Agreement (FTA), Saudi WTO accession, investment in 
Bahrain, and economic reform.  The King told the delegation 
that the FTA was a very positive development for both 
countries and represented a logical outcome of Bahrain's 
traditional openness to outside trade and investment.  He 
said that the FTA had acted as a catalyst to spur Saudi 
Arabia to conclude negotiations with the U.S. on WTO 
accession.  Growing receptivity in the Gulf to liberalize 
trade with the U.S. left Saudi Arabia with no alternative 
than to make the commitments necessary to win U.S. support 
for accession. 
 
2. (SBU) The King said he wanted more Bahraini citizens to 
invest in Bahrain.  Referring to Bahraini businessman and 
AmCham board member Khalid Al Zayani, the King said that Al 
Zayani was one of the few Bahrainis investing in his own 
country.  Many of the other investors were from the outside. 
(Note:  Mostly citizens from other GCC countries.)  He noted 
that the government was taking steps to improve the 
investment climate in Bahrain. 
 
3. (SBU) The King urged AmCham and broader Bahraini business 
support for GOB reforms.  "The more businessmen can help us, 
the better it will be for them."  AmCham President and 
Microsoft Country Manager Samir Benmakhlouf stated that 
Microsoft's local revenues had multiplied threefold since his 
arrival a few years earlier.  The King responded that 
Microsoft's performance was commendable and symbolized the 
favorability of Bahrain's investment climate. 
 
4.  (SBU) The King praised strong U.S.-Bahraini bilateral 
relations and mentioned the "admiration and affection" 
Bahrainis feel for the United States.  The King expressed his 
condolences for the devastation caused by Hurricane Katrina, 
saying, "what hurts you, hurts us." 
 
MONROE