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Bahrain, Brazil to boost economic ties

Manama, May 28, 2012

Bahrain will exert all efforts to develop Bahraini and Brazilian economic relations, particularly in light of available investment opportunities in both countries, said a top business official.

Establishing a council for Bahraini and Brazilian businessmen is the first step towards strengthening these bilateral relations, remarked Bahrain Chamber of Commerce and Industry (BCCI) chairman Dr Essam Fakhro as he met Brazilian Ambassador Roberto Abdullah and his country's special envoy Cesario Milantonio at Beit Al Tijjar.

He praised the efforts of the Brazilian Embassy in Kuwait in promoting joint bilateral relations between the two countries, stressing BCCI welcomes the Brazilian investments in Bahrain and in the region as well.

Dr Fakhro pointed out Bahrain's status as a financial and banking hub, and its liberal economic legislations.

He also highlighted Bahrain's flexible investment regimes, its integration with the Gulf market, and status as a commercial gateway for the countries of the region, where it is regarded as one of the most distinctive investment destinations in the region and the world as well.

Brazilian officials expressed their interest in stepping up economic relations between the two countries, calling on Bahraini businessmen to visit Brazil and review investment opportunities.

They praised the great facilities offered by the investment laws in the kingdom.

They also pointed out that Bahrain enjoys a great logistic network that encourages investment, not only in the region, but also in the Middle East.

The Brazilian officials highlighted the availability of direct flights between Bahrain and Brazil in reference to a desire to exchange frequent visits between the business sectors in both countries and discuss ways of economic co-operation and joint investment, calling on signing a bilateral co-operation agreement between the chambers of the two countries.-TradeArabia News Service

Tags: Bahrain | economy | investment | industry | commerce | Brazil |

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