Ahmed signs deal with the CII official
CII set to open first GCC office in Bahrain
Manama, February 20, 2014
One of India's leading business and policy making bodies has chosen Bahrain for its first GCC office.
The Confederation of Indian Industry (CII) will establish an office in Manama to increase its presence in the region, revealed Transportation Minister and Economic Development Board acting chief executive Kamal Ahmed in a report in the Gulf Daily News (GDN), our sister publication.
A total of eight memoranda of understanding (MoU) have been signed between Bahraini and Indian businessmen during His Majesty's visit to India.
"The EDB has signed an agreement with the Confederation of Indian Industry (CII) during the Bahrain India Business Forum in New Delhi," said Ahmed.
"The CII has also selected Bahrain as a location for its offices in order to serve the wider GCC region.
"Having their presence in Bahrain will offer potential investors and companies from India more insight into the opportunities available in Bahrain."
An agreement in this regard was signed between Ahmed and CII official Gorpal Singh.
"We are delighted with this partnership and look forward to continuing to build on this long-standing relationship of significant importance - as has been marked by His Majesty's visit to India this week," Ahmed said.
The CII will work to set up a new business committee that will look at developing business ties between India and Bahrain, and greater collaboration between the CII and EDB - including partnering to bring business delegations to each country and EDB sponsorship of the CII Partnership Summit 2015.
Meanwhile, India's Minister of State for Commerce and Industry E M S Natchiappan encouraged Bahraini business leaders to take advantage of economic reforms and eased regulations on foreign investments in sectors including retail and telecom.
"With the reforms being undertaken in India, there are several opportunities for Bahraini companies to invest in the country," Mr Natchiappan said.
The Indian minister also highlighted the National Manufacturing Zones that are being set up by the Indian government. - TradeArabia News Service