Monday 25 June 2018

Bahrain to boost trade ties with Illinois

Manama, September 2, 2013

Bilateral economic opportunities between Bahrain and the US state of Illinois came up for discussion during key meetings held as a result of co-operation between the Economic Development Board (EDB) and the US-Arab Chamber of Commerce.

Illinois is home to more than 2,000 foreign firms and is ranked on top of the Midwestern US states for foreign investment.

The meetings featured the EDB hosting a high-level delegation from Illinois as part of a one-day visit to the kingdom.

More than 20 US representatives from various economic sectors including insurance, economic development, financial, banking and advisory services in the areas of information technology and healthcare to construction and infrastructure, entrepreneurship, real estate, education and food, as well as chamber officials participated, reported the Gulf Daily News, our sister publication.

Tamkeen officials presented a session focused on its role in enhancing growth in the private sector and diversifying the economy by increasing the contributions of non-oil sectors to create a better future for all Bahrainis.

The EDB also organised a business networking lunch for the delegates, introducing them to local business peers, wherein they discussed means of co-operation, joint investment opportunities and identified common trade interests.

Held at the Capital Club, the lunch was attended by more than 30 Bahraini businessmen from various sectors.

Bahrain Chamber of Commerce and Industry officials attended, along with members of the Bahrain Businesswomen's society and the American Chamber of Commerce.

During the meetings, EDB officials highlighted the competitiveness of Bahrain's investment environment, its economic diversity and freedom.

They also showcased the latest achievements in securing high rankings in several international indicators related to global competitiveness in comparison with the economies of the region.

The officials also discussed multiple opportunities that Bahrain's investment environment provides, which have contributed to attracting globally renowned and large companies and investors.

The fact that Bahrain also distinguishes itself with having a qualified local workforce and a reasonable cost of living and the reasons why high human development indicators identifies the kingdom as the ideal gateway to the trillion-dollar gulf market, were also presented by the EDB.

Tamkeen highlighted how it plays a vital role in fostering the creation and development of enterprises in Bahrain and providing support to enhance the productivity and growth of both enterprises and individuals.

This is in addition to its wide array of enterprise support programmes and how foreign investors can take full advantage of these unique opportunities.

Illinois has the fifth largest economy in the US and is one of the 20 largest economies in the world.-TradeArabia News Service

Tags: Bahrain | Trade | Illinois |

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