Bahrain's Prime Minister has urged major slashing of red tape as a reality for Bahrain to preserve economic competitiveness.

'All obstacles which may hinder commercial and economic openness should be removed,' he said.

His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa issued the directives during a meeting with officials.

'Bahrain has always boasted competitive credentials,' he said, stressing open policies, economic infrastructure and solid legislation as key pillars.

He underscored the importance of preserving the kingdom's attractiveness as an investment destination and viable trade hub.

HRH the Premier also reiterated the government's keenness to boost trade momentum and ensure the balance between traders' vital interests and consumers' legitimate rights.

'Strengthening trade activity is essential for the economic momentum to continue unabated,' he said.

HRH the Premier pledged to ensure the private sector play its pivotal role, as a driving force for economic growth, strengthening the government's efforts to attract investments and create opportunities for investors.

'The government can't work while sidelining the private sector,' he said, stressing the determination to bolster co-operation with the business community.

He pointed out the government's keenness to reach out to the trade sector and hear the business community's views for more development dynamism.

'The government is looking forward to more private sector initiatives that back the government's orientations and boost the national economy,' he said.

HRH the Premier pledged to translate citizens' needs and aspirations into tangible reality - citing decent living opportunities and fair share from developments.

'The government gives full priority to development, being the cornerstone to enhance citizens' living standards,' he said.-TradeArabia News Service