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Bahrain
built 658 days ago
When Bahrain became independent, the traditionally excellent U.S.-Bahrain relationship was formalized with the establishment of diplomatic relations. The U.S. embassy at Manama was opened September 21, 1971, and a resident ambassador was sent in 1974. The Bahraini embassy in Washington, DC, opened in 1977. In October 1991, Amir Isa bin Sulman Al Khalifa made a state visit to Washington, after which he visited other parts of the U.S. as well. In 2001, Amir Hamad bin Isa Al-Khalifa made his first visit to the U.S. after succeeding his father in 1999.
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Bahrain has been ranked the sixteenth freest economy in the world and the freest economy in the Middle East by the Washington-based Heritage Foundation for 2003. It is ranked as the most liberal economy in the Arab world and boasts one of the most modern cosmopolitan societies in the entire region. It is ... the region's financial and banking centre with some 250 banks and financial institutions. The government of Bahrain encourages free trade and foreign investment by allowing 100% foreign ownership and control of company assets and enforces no personal, corporate or withholding taxes. In June 2002, Fitch upgraded Bahrain's long-term foreign currency rating from BBB to A-, following similar upgrades in 2002 by Standard & Poor's and Moody's.
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