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The Annual Meeting was convened
at the offices of BP in Washington, DC, on June 20 by the
Chairman of the Board of Directors, Filippo Nardin. In his
welcoming remarks, the Chairman highlighted some of the activities
carried out by the Chamber since the last annual meeting.
These included the Gala Dinner in Luanda in December 2004,
the Business Symposium in May 2005, and the establishment
of a Chamber office in Angola. He then asked for the Executive
Director’s report.
The Executive Director, Paul Hare, said
the most important accomplishment of the Chamber during the
past year was to establish an independent presence in Angola.
The Chamber was fortunate that Liliana de Sousa was available
and willing to be the Chamber’s representative in Angola.
The Gala Dinner had been an important fund raising event to
support the establishment of the new office. Hare also briefly
reviewed the Business Symposium and the meetings of the Working
Group on Angola. Looking ahead, the Chamber intended to hold
another Gala Dinner in Luanda at the end of the year; host
a lunch in Luanda where the Chairman could present an overview
of Chamber activities; organize another business symposium
or trade mission or a combination symposium/trade mission
in the first half of next year; and continue the working group
format in Washington, DC.
During the discussion period, a suggestion
was made that the Chamber should consider organizing an event
focusing on Angola and its relations with the United States
similar to what had been done with the Center of Strategic and
International Studies four years ago. The Executive Director
said this idea was being considered at this time. Suggestions
were also offered on speakers for the Working Group. Hare
said he would follow-up and added he hoped to arrange a meeting
with representatives of the IMF and World Bank in the near
future.
The Deputy Director, Maria da Cruz, presented
the financial report. She said that the Chamber had recorded
a deficit of about $30,000 in 2004. She largely attributed
the deficit to the fact that the Chamber was unable to hold
a Business Symposium in 2004, as had been planned, and that
a number of payments for the 2003 trade mission had been made
in 2004. She noted that with the Business Symposium and the
projected Gala Dinner the Chamber should record a profit in
2005. The Deputy Director also made an appeal to members to
pay their membership dues and other obligations because the
Chamber was facing a critical cash flow problem in Washington,
DC.
On the other hand, the bank account in Luanda showed a substantial
balance. A number of comments and suggestions were offered
on how collections could be expedited.
The next agenda item was the election of
five Board members. The slate recommended by the Nominations
Committee was overwhelmingly approved by the membership. The
five elected Board members are: Africare, Halliburton, Lazare
Kaplan International, MITC, and Samuels International.
The Board of Directors met immediately
following the Annual Meeting. The slate recommended by the
Nominations Committee for officers of the Board was unanimously
approved. They are: Chairman, Citizens Energy; Vice Chair,
Chevron: Treasurer, ExxonMobil, and Secretary, BP. The Board
also examined various financial issues, including the structure
of salaries for the Executive Director and the Deputy Director.
The Treasurer added he had met with the staff to review the
budget and examine ways that expenses could be more closely
tied to program activities. The changes should be reflected
in the 2006 budget. Finally, the Chairman said he would like
to propose that Rodney Goodwin join the Honorary Advisory
Council in view of his involvement in founding the Chamber
in 1991 and his subsequent years of service on the Board,
including his tenure as Chairman. The Board immediately agreed
to this motion.
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