Deputy Secretary's Speech

Deputy Commerce Secretary David A. Sampson
Bahrain National Day Celebration
Washington, D.C.

Thank you, Ambassador Belooshi, for that kind introduction. It's good to see you again. Ambassador Belooshi works tirelessly for Bahrain. In fact, it was the Ambassador himself who lobbied me to visit Bahrain during my upcoming trip to the Middle East next month. I look forward to my visit there and further promoting our relationship. On behalf of President Bush and Secretary Gutierrez, I'm honored to be with you today to mark Bahrain National Day and celebrate its 35th year of independence.

Since winning its independence, Bahrain has established an impressive track record. Over the years, Bahrain has earned a reputation as a progressive nation that has shown considerable initiative to establish its economic identity. Despite its modest size, Bahrain's democratic mindset makes it a leader among its neighbors in the region.

The new U.S.-Bahrain Free Trade Agreement that took effect in August is the first free trade agreement between the United States and a Gulf country. President Bush is very proud of this new agreement. And it is a testament to the vision, determination, and wisdom of the Government of Bahrain. This year, we expect trade between our two countries to top $1 billion.

It is not unusual for Bahrain to be the pioneer for the region. In 1932, Bahrain was the site of the first oil discovery on the Arab side of the Gulf. In turn, when faced with declining oil stocks, Bahrain was one of the first countries in the region to seriously diversify its economy, transforming itself into an international center for banking and manufacturing of aluminum.

Today Bahrain has one of the freest and most open economies in the Middle East. Bahrain's leadership deserves great credit for guiding the country towards reform and expanding prosperity.

And now, in your 35th year as a democratic state, Bahrain is the first in the Gulf to sign an FTA with the United States.

On behalf of the American people, let me express our strong appreciation and gratitude for Bahrain's friendship. Congratulations on successful 35 years as an independent state. And let me be the first to wish you continued prosperity in the New Year.

Thank you very much.