The Harvard business club of Washington D.C hosted a business dinner at the Embassy of Bahrain calling for more economic co-operation between the U.S and Bahrain. The event featured many from the HBS and the business community of Washington.
Antonio Alves, who is the EVP of D.C's HBS club who most recently came back from Brazil gave a painting to Bahrain's Ambassador to the U.S Sheikh Abdullah Bin Mohammed Bin Rashid Al Khalifa.
When Ambassador Khalifa spoke he mentioned how the free trade agreement with the U.S has generated export opportunity's to the U.S creating a large number of jobs. Mentioning that the Heritage Foundation said that Bahrain has a good business climate along with Zero corporate taxes. The Ambassador said, “Today there are over 180 American companies in Bahrain with American exports to Bahrain totaling nearly $1 Billion." Adding that, "Bahrain recognizes that oil revenue will not sustain our economy forever, In 1970 we enabled reforms that made Bahrain one of the top banking sectors in the Arab world. Now we must build for the future."
Declaring English the official language of business in Bahrain, The Ambassador also talked about how several notable American companies such as Microsoft have strong investment ties in Bahrain. Along with Kraft foods having a plant in the country. Other companies such as Ernst & Young, Skype and Coca-Cola have business ties there as well. Bahrain is no doubt of relevance to U.S interest. Having a zero percent income tax has helped the country create wealth and one of the major setbacks to America's economy is high taxes according to the Ambassador.
"Bahrain likes to see American made products and thinks it's better quality than a product made in China but the U.S needs to change it's tax laws to see business flourish." The Ambassador added.
The event was one of many that the Harvard Business School club of D.C has hosted throughout the year. For more information about the club you can check out their website here.