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Top level meeting probes ways to boost bilateral trade

Bahrain, China aim to boost trade ties

MANAMA, October 25, 2014

Ways to boost Bahrain's trade ties with China were discussed at a key meeting in the kingdom yesterday (October 24), a report said.

Transportation Minister and Economic Development Board (EDB) acting chief executive Kamal Ahmed met China's Vice-Minister of Commerce Fang Aiqing as part of a Bahrain delegation's visit to China, reported the Gulf Daily News, our sister publication.

In a meeting attended by representatives of the Bahrain Chamber of Commerce and Industry (BCCI), including first vice-chairman Othman Alrayes and a number of businessmen, the two parties discussed bilateral relations between the kingdom and the People's Republic of China as well as the importance of the Bahrain delegation's visit, which aims to strengthen commercial relations between the two countries.

The meeting also included discussions about the role of the EDB in attracting foreign direct investment (FDI) and Chinese investment in particular.

Ahmed focused on how the organisation of a number of forums and continuous meetings has created investment partnerships between various business sectors in Bahrain and China.

The minister also held a meeting with officials from Beijing Capital Group to discuss co-operation and opportunities.

It was attended by Bahraini officials as well as businessmen and women from the Bahrain delegation.

Meetings were also held between Bahraini businessmen and private sector representatives with various Chinese companies to discuss means of co-operation in trade and investment.

The EDB organised B2B meetings between Bahraini companies and their Chinese counterparts to discuss potential partnerships and trade opportunities.

Marking the delegation's visit, the EDB was awarded Best Organiser of the China Overseas Investment Fair by the China Overseas Development Association during a ceremony held in the Chinese capital Beijing.

The ceremony hosted various officials representing the private and public sectors in China and the kingdom.

Meanwhile, EDB executive director of business development Vivian Jamal took part in the Silk Route Panel, in which she gave a speech on bilateral relations with China, stating that the future relationship between the two countries will be based on their historical commercial relationship.

She praised China's "One Belt, One Road" trade policy to maintain close business ties with Bahrain, which has resulted in the strong economic relationship that China currently enjoys with the rest of the GCC states.

Jamal said that there are a number of Chinese firms operating from Bahrain as a result of this firm relationship, such as Huawei, Bank of China, China Harbour Engineering Company and Chinamex, the official agent to operate and manage Dragon City retail project.

These firms are expanding their business operations into the rest of the GCC markets from their headquarters in Bahrain.

She added that as the Chinese market continues to grow, more Chinese companies are looking to introduce their products and experience to new markets.

The kingdom is targeting such investments, she added.

Jamal also indicated the country's efforts to invest in major infrastructure projects in order to diversify the economy and highlighted the opportunities that are present to international investors, as well as how Chinese companies have used these opportunities previously.

Jamal also emphasised that the relationship with China must be based on market openness and partnership.

The EDB established an office in China in 2013 as part of its strategy to attract FDI into the kingdom. – TradeArabia News Service




Tags: Bahrain | China | EDB | Trade |

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