His Highness Shaikh Salman Bin Hamad Al-Khalifa, The Crown Prince of Bahrain and Chairman of the Bahrain Economic Development Board to Visit Japan
Bahrain delegation to have high-level meeting with dignitaries, government ministers and Japanese business leaders
Tokyo, 7 October 2008: His Highness Shaikh Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain, and Chairman of the Bahrain Economic Development Board (EDB), will arrive today (8th October) in Japan to conduct a series of high-level meetings with dignitaries, government officials and Japanese business leaders. The EDB visit reflects the continued commitment and goodwill of the EDB to forge close relationships with Japan and to encourage investment, commerce and trade between both countries.
The EDB is a dynamic public agency which is charged with formulating and overseeing the economic development strategy of Bahrain, and for creating the proper climate to attract direct investment into the Kingdom.
The EDB delegation includes the EDB Chief Executive, Shaikh Mohammed Bin Essa Al-Khalifa, who commented on the visit to Japan: “Bahrain has long established and close relations with Japan and it is an honour to be meeting with HIH Naruhito, The Crown Prince of Japan; His Excellency Taro Aso, The Prime Minister of Japan and key government officials and business leaders."
The EDB will meet with HE Minister of Economy, Trade and Industry to discuss a number of issues including Bahrain investment opportunities. Shaikh Mohammed Bin Essa Al-Khalifa said: “As one of the most established business hubs in the Gulf, this visit is very important to Bahrain. The Kingdom offers strong investment opportunities to Japanese companies within a secure, highly regulated and transparent environment, with the advantage of Bahrain being the gateway between East and West. Building close strategic relationships is very important to both Japan and Bahrain. We are committed to working with both the Japanese government and the commercial sector to forge even closer business and trading ties."
The Bahrain delegation will also attend a series of events in Tokyo hosted by Japanese companies. A number of Japanese companies already have successful operations in Bahrain, benefiting from its cost competitiveness, skilled labour force and unsurpassed market access to the Gulf. A long established financial services centre, Bahrain is home to Nomura Securities which has a sizable presence in Bahrain and went on to establish the Nomura Bahrain Friendship Fund in 1990 to strengthen bilateral relations through cultural and academic activities, including a program to encourage Bahraini students to learn Japanese.
Japanese light manufacturing, logistics and industrial services companies have established Middle East operations in Bahrain as they look to grow their regional businesses, taking advantage of Bahrain's strategic position and links to the Middle East markets, including neighbouring Saudi Arabia. Bahrain is also home to major Japanese companies including Toyota, Yokogawa, Mitsubishi and Daiwa.
The Japanese School in Bahrain was established in 1984 has some 17 pupils, a Japanese Studies Centre was set up at the University of Bahrain, and there is a growing Japanese community with increasing cultural and academic exchange programmes between the two nations. Japan is a major trading partner with Bahrain, accounting for approximately 8% of Bahrain's world trade and Japan imports mainly petroleum and aluminium from Bahrain, with Bahrain's total exports to Japan reaching approximately US$ 430 million in 2007.
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Notes to editors:
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for formulating and overseeing the economic development strategy of Bahrain, and for creating the right climate to attract direct investment into the Kingdom.
The role of the Bahrain EDB is to provide leadership by uniting all of the Kingdom's shareholders through a unified vision, and to develop key strategies for growth. The Bahrain EDB also acts as a facilitator, helping all of Bahrain's stakeholders to understand and adopt the changes necessary for progress. In addition, the Bahrain EDB provides sound project management to ensure that all agreed reform initiatives are implemented in an effective and timely manner.
The Bahrain EDB is also responsible for attracting inward investment into Bahrain, and is focusing on six target economic sectors in which the Kingdom offers significant strengths. These are financial services, downstream industries, tourism, business services, logistics, education and training.
More information on the Bahrain EDB is available on the Bahrain EDB’s website on www.bahrainedb.com
EDB Mission Statement
Our mission is to grow and diversify Bahrain’s economy by developing a strategy that supports the advancement of a modern and liberalized business environment, encourages inward investment and enables us to compete in the global marketplace.
We are dedicated to raising living standards by creating greater opportunities for our citizens and to make Bahrain the Gulf’s most welcoming, business friendly location. We will accomplish these goals by working in partnership with the public and private sectors, and by being passionate, professional and innovative in all that we do.
For more information, please contact: Weber Shandwick PR for the EDB
Tomoko Fujimoto (WS Japan)
Telephone: +81-3-5427-7373, Email: tfujimoto@webershandwick.com
Vicki Morley (WS London)
Telephone: +44 (0) 20 7067 0707 (Direct)
Mobile: + 44 (0) 789 409 4577, Email: vmorley@webershandwick.com