Bahrain Chamber highlights China trade opportunities at key Industry Forum

TDT | Manama     

The Daily Tribune – www.newsofbahrain.com

The Bahrain Chamber, together with the Ministry of Industry and Commerce and the Economic Development Board, participated in a high-level delegation at the China-GCC Industry and Investment Forum held in Xiamen, China. During the forum, Sameer Nass, Chairman of the Bahrain Chamber, underscored the significance of the 35-year bilateral relations between Bahrain and China.

He highlighted that nonoil trade volume between the two countries reached approximately 2.186 billion US dollars in 2023, with Bahrain importing 2.15 billion US dollars from China, making China Bahrain’s largest trade partner.

Nass emphasized that the visit presented an opportunity to explore trade and investment prospects beneficial to both economies, particularly in promising sectors that could contribute to Bahrain’s economic growth. Nass also pointed out Bahrain’s promising market for Chinese investments in infrastructure, fintech, and artificial intelligence, owing to its important economic position in the Gulf region.

He highlighted ongoing negotiations between GCC countries and China for a free trade agreement, emphasizing the potential to enhance trade relations.

Given China’s status as the primary trading partner of GCC countries, Nass advocated for stronger industrial and investment collaboration to align with the Belt and Road Initiative and GCC development plans.

Mohammed Al-Koheji, Second Vice Chairman of the Bahrain Chamber, emphasized the need to seize opportunities to boost trade volume between Bahrain and China, particularly in sectors such as renewable energy, tourism, and IT.

Aaref Hejres, Treasurer of the Bahrain Chamber, hailed the bilateral relations between Bahrain and China, stressing their crucial role in fostering investments and partnerships.

He emphasized the importance of developing joint Bahraini-Chinese economic relations across various fields and highlighted significant advancements expected in Gulf-China trade relations, especially in logistics and technology, as discussed during the forum.

Key takeaways

Bahrain’s Prime Trading Partner:

Nass unveils $2.186 Billion non-oil trade figure with China in 2023, reaffirming China’s dominance as Bahrain’s principal trade ally.

Strategic Ventures Explored:

Bahraini delegation taps into strategic trade and investment prospects at forum, focusing on mutually rewarding economic opportunities.

Bahrain: A Hub for Investment:

Nass highlights Bahrain’s attractiveness for Chinese investment in infrastructure and cutting-edge industries, Anchoring its role in Gulf and China’s Belt and Road Vision.

GCC-China FTA on the Horizon:

Nass acknowledges GCC-China Free Trade agreement talks, envisioning a boost in trade dynamics amid China’s prevalent role in GCC Commerce.

Urging Enhanced Collaboration:

Nass advocates for heightened GCC-China economic ries, propelling “Belt and Road” Synergy with GCC growth agendas for enhanced bilateral prosperity.