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Ahmed with a Chinamex official after signing the MoU

Bahrain signs key deals with Chinese firms

MANAMA, October 24, 2014

A Bahrain business delegation, on a 10-day visit to China, has signed four memoranda of understanding (MoUs) to promote stronger economic and trade ties.

The MoUs were signed on the sidelines of the China Overseas Investment Fair, organised by the China Overseas Development Association (CODA), said a report in the Gulf Daily News (GDN), our sister publication.

The Bahrain delegation visit has been organised by the Economic Development Board (EDB) and is led by Transportation Minister and acting chief executive Kamal Ahmed.

CODA signed an MoU with the EDB to promote investment projects across a number of sectors in both markets.

The MoU follows a recent visit by CODA to Bahrain, where the EDB introduced the delegation to Bahrain's investment environment, business registration procedures and industrial policy.

Chinamex, the Chinese government agency behind the Dragon City Bahrain development, signed an MoU with the EDB to establish a regional trading centre in Bahrain.

The agreement also includes provisions for Chinamex to support the EDB on business development trips to China and for the EDB to assist in the registrations of the Chinese companies to be housed at Dragon City

China National Building Material Company (CNBM) and Chinamex signed an MoU to offer trade and financing services for the Chinese tenants at Dragon City Bahrain.

The BCCI signed an MoU with China Association of International Trading to establish co-operation and ties aiming to promote mutually advantageous commercial and industrial interests and enhance the economic relations between Bahrain and China.

“By creating the most open economies in the Middle East region, and delivering a favourable business environment, Bahrain is able to fully support China's 'One Belt One Road' policy and act as the ideal hub from which Chinese businesses can access the fast growing GCC market, currently worth $1.6 trillion,” Ahmed said.

“These four agreements will work to strengthen China and Bahrain's already strong economic and trade partnership and will deliver high value added jobs for Bahrainis and significant returns for Chinese investors,” he added.

After Beijing, the Bahrain delegation will visit Guangzhou, Shenzhen and Hong Kong. In each location, the delegation will host an Invest in Bahrain Seminar to showcase to investors the kingdom's favourable business environment.

In April this year, Bahrain and China celebrated 25 years of bilateral relations.

Leading Chinese companies with offices or facilities in Bahrain include Huawei, Bank of China, China Harbour Engineering Company and CPIC. - TradeArabia News Service




Tags: Bahrain | China | business | Trade | Delegation | Ties |

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