Tuesday 19 March 2024
 
»
 
»
Story

Bahrain’s EDB steps up efforts to spur trade with China

MANAMA, March 30, 2015

Bahrain’s Economic Development Board (EDB) is hosting businessmen and trade officials from Hunan Province in China this week, who will meet officials and private sector counterparts during a two-day visit to the kingdom.

The visit aims at strengthening bilateral economic and trade relations between the two countries, said a report in the Gulf Daily News (GDN), our sister publication.

The trip includes meetings with Bahraini businessmen and government officials including Tamkeen, the Bahrain International Investment Park (BIIP), and the Bahrain Chamber for Commerce and Industry (BCCI), along with visits to a number of cultural sites.

The delegation is led by Department of Commerce of Hunan Province director general Xu Xiangping and includes 23 business representatives.

The Hunan Province is known for its top 10 industries including steel, electricity, chemicals, nonferrous metals, building materials, transportation equipment, agricultural and sideline processing, specialised equipment manufacturing and petroleum processing industry.

Hunan has in the past 50 years maintained its focus on heavy industry, which Bahrain's private and public sectors can benefit from.

The total volume of Hunan's imports and exports in 2012 reached around $22 billion, an increase of 15.5 per cent over the previous year.

In October last year, a high-level business delegation from Bahrain conducted a 10-day visit to China, which aimed at strengthening economic and trade ties between the two countries.

The trip which included visits to four of China's main commercial centres; Beijing, Guangzhou, Shenzhen and Hong Kong followed the successful visit by His Majesty King Hamad to China in September 2013.

The visits have led to the signing of 13 agreements with various Chinese companies and trade entities.

A National Oil and Gas Authority delegation also visited China in December last year, where they met with high level officials from the China National Energy Administration as well as leading companies from the oil, gas and petrochemicals sector in the country.

The two nations celebrated 25 years of bilateral relations last year.

In 2011, total bilateral trade between Bahrain and China, excluding hydrocarbons, reached $1.7 billion.

Machinery and mechanical equipment led Chinese imports to Bahrain in 2011 followed by minerals while hydrocarbons led Bahrain's produce exported to China in the same year.

The EDB established an office in China in 2013 as part of its strategy of attracting foreign direct investment. - TradeArabia News Service




Tags: Bahrain | China | EDB | Trade |

More Industry, Logistics & Shipping Stories

calendarCalendar of Events

Ads