Wednesday 5 August 2020

Bahrain in major German trade push

MANAMA, May 10, 2015

A high-profile Economic Development Board (EDB) delegation led by chief executive Khalid Al Rumaihi has concluded its visit to Germany.

The business delegation included representatives from both the public and private sectors in Bahrain including Transportation and Telecommunications Ministry Under-Secretary of Ports and Maritime Affairs Hassan Al Majed and members of the Bahrain Chamber of Commerce and Industry, reported the Gulf Daily News, our sister publication.

The visit, from May 4 and 8, was scheduled to tie-in with the prestigious Transport Logistic exhibition in Munich, and included a series of meetings with senior officials and businessmen.

"During the course of our visit we have seen real recognition that the Gulf is a very exciting market and businesses want to know how they can access it," Al Rumaihi said.

"We have a very strong story to tell. The Gulf has grown rapidly in recent years. It is now a $1.6 trillion market and in spite of the decline in the oil price, it is expected to reach $2 trillion by 2020.

"The long-term prospects for this growth are underpinned by a number of factors - the population is young, growing and increasingly educated and we are diversifying our economies away from oil and gas.

"The countries of the Gulf are not only more connected to each other than ever before but they are also increasingly at the centre of global flows of people and goods. As a result, it is hardly surprising that transport and logistics is one of the most important areas of growth in the region and attracting attention from international investors."

Al Majed said strategically located at the heart of the Gulf, Bahrain has long been considered the gateway to the GCC.

"Bahrain is also connected to the Gulf's biggest market, Saudi Arabia, by King Fahad causeway. With the second causeway linking Bahrain to Saudi Arabia and a new railway connecting Bahrain to the GCC rail network are also planned, Bahrain is set to be even more connected to its neighbours."

During the visit, the delegation also met German Federal Minister of Transport and Digital Infrastructure Alexander Dobrindt, parliamentary state-secretary Dorothee BŠr and Bavarian Ministry of Economics, Energy, Media and Technology State-Secretary Franz Josef Pschierer. – TradeArabia News Service

Tags: EDB | Economic Development Board |

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