BAHRAIN, CHINA FOR GREATER TRADE TIES

100 Chinese biz delegates visit Kingdom

DT News Network

Manama 

Providing a big boost to the growing bilateral economic relations, China and Bahrain is all set to sign Memorandums of Understanding to enhance cooperation in the fields of agriculture and food, energy and chemicals and manufacturing. 

The MoUs will be signed as part of the ongoing visit of close to one hundred business leaders from the Chinese region of Ningxia, led by the Vice Governor of Ningxia and the China Chamber of International Commerce (CCOIC). 

The first MoU will be signed by the Ningxia China Council for the Promotion of International Trade (CCPIT) and the EDB to enhance mutual cooperation to promote economic relations in the fields of agriculture and food, energy and chemicals and manufacturing. A second MoU will also be signed between the Ningxia CCPIT and the BCCI to further strengthen trade cooperation between the two organisations.

The delegates, as part of the two-day visit, already held discussions with Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB); and officials from the Ministry of Industry and Commerce and Bahrain Chamber of Commerce and Industry (BCCI).  

The visit, designed to boost business and trade ties between China and Bahrain, included a Bahrain-China business seminar, a number of high level meetings between Chinese and Bahraini business leaders.

Commenting on the visit, Al Rumaihi said, “There is evidence that Bahrain and China were trading along the old Silk Road hundreds of years ago. This long history provides a strong foundation for the future of the relationship between our two countries as Bahrain has become a hub today for Chinese businesses looking to access the fast-growing Gulf and wider Middle East region along a modern day Silk Road.

“The six economies of the Gulf Cooperation Council (GCC) are diversifying their economies away from oil and gas and have rapidly expanding affluent populations. This presents significant opportunities for international investors, particularly those in China. It also supports the Kingdom’s continuous efforts to diversify the economy and create quality jobs.”

A large number of Chinese businesses have already established operations in Bahrain to access the wider GCC market, including: Bank of China; China Harbour Engineering Company; Curtain Wall Co. Ltd; Daily Wealth Limited; Wuhan Lingyun Building Decoration Engineering Co. and Huawei. Furthermore, in September 2015 the Bahrain Dragon City, a Chinese themed shopping mall housing as many as 500 Chinese companies, will open its doors to the public.