France vows strong Bahrain investment ties
Manama, November 9, 2013
Bahrain and France pledged to bolster economic partnerships and exchange investments.
This came during a dinner banquet marking the acquisition of French Compin Front Ends & Composites by BFG International, reported the Gulf Daily News, our sister publication.
Addressing the event, Bahrain Ambassador to France Dr Nasser Al Balooshi hailed strong bilateral relations bonding Manama and Paris.
Dr Al Balooshi stressed the two countries' strong desire to bolster joint co-operation and boost exchanges.
He commended Bahrain's position as a strategic hub and a gateway to the Gulf market.
He hailed the success of BFG International, describing the firm as a model reflecting steadily growing industries.
The event was attended by French MPs, senators, Arab and foreign ambassadors, heads of major French companies including Alstom and Bombardier.
Prominent figures representing civil society institutions, Arab and foreign media were also present.
Compin Front Ends & Composites manufactures railway equipment which include polyester resin and fibreglass base composites for railway sector. These activities are located in Mauves-sur-Huisne and La Rochelle, France.
BFG has seven manufacturing facilities located in Bahrain, France, the US, Brazil, China, India and the Philippines, encompassing more than 100,000 sq m of manufacturing space.
French transport minister's diplomatic adviser Philippe Dumont stressed the importance of added-value foreign investments, hailing the BFG acquisition which would create jobs and boost bilateral exchanges.
He credited BFG general manager Dr Samer Al Jishi for the ambitious step which would contribute to the development of Bahraini industries and promote skills.
He stressed the importance of the acquisition and said that it would consolidate the company's standing in Europe and the world, welcoming foreign investments to France.
French industry minister's personal adviser Christophe Bejach stressed his country's keenness on bolstering co-operation with the Arab world.
He hailed His Majesty King Hamad's visit to Paris, affirming his country's resolve to promote trade exchanges and boost investments.
He welcomed Bahraini public and private investments to France, such as sovereign funds. He cited French companies in Bahrain - BNP Paribas, GDF Suez and Aeroports de Paris.
Alstom managing director Jerome Wallut hailed the 15-year co-operation with BFG.
Dr Al Jishi also lauded strong bilateral relations, hailing co-operation with French official authorities as well as companies which are the first providers of raw materials, said the report.
He described France as the main headquarters for BFG to expand in Europe, it added.
BFG International acquired Compin Front Ends & Composites in July.-TradeArabia News Service