January 29, 2014
H.E. Kamal bin Ahmed leads Bahrain Delegation in talks with Anand Sharma, Minister of Commerce and Industry, Government of India, to discuss strengthening economic & trade relations
Manama, Kingdom of Bahrain: H.E. Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the Bahrain Economic Development Board (EDB), led the Bahrain delegation in talks with Mr. Anand Sharma, Minister of Commerce and Industry, Government of India, on the side lines of the Confederation of Indian Industry (CII) Partnership Summit taking place in Bangalore.
At the meeting the two ministers discussed strengthening bilateral relations between India and Bahrain, in particular the growing trade and opportunities for Indian businesses who can take advantage of the fast growing GCC market, currently worth $1.5 trillion.
Also attending the meeting was H.E. Dr. Essam Fakhro Chairman of the Bahrain Chamber of Commerce and Industry (BCCI) along with several key members of the Bahrain delegation, including; Othman Mohamed Sharif Al Rayes, Treasurer and Board Member, BCCI, Khalid Al Amin, Board Member, BCCI, and Mohammed Dadabhai, Chairman of the Dadabhai Group.
H.E. Kamal bin Ahmed said:
“India and Bahrain have a trading relationship that stretches back thousands of years. Our countries are highly connected economically, with a large number of Indian companies choosing Bahrain as a base to access the wider Gulf region, and culturally, with around 300,000 Indians living and working in the Kingdom.
“Our discussion demonstrates commitment from both our countries to continue to build on and strengthen our economic partnership. By working together we can help both our economies to flourish and to create jobs for Indians and Bahrainis.”
India has long been one of Bahrain’s most important trading partners. In 2011 trade between the two countries reached $1.7 billion according to the International Monetary Fund (IMF). A large number of Indian businesses have already established operations in Bahrain as a means of accessing the wider Gulf market. Leading Indian companies with offices or facilities in Bahrain include: Tata Consultancy Services, Tech Mahindra, First Flight, KIMS, JBF Industries, Canara Bank, ICICI Bank, Bank of Baroda and State Bank of India.
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Notes to editors:
Further information:
Noora Abul, Bahrain Economic Development Board
Tel: +973 17 589 903
Email: internationalmedia@bahrainedb.com
Noora Abul, Bahrain Economic Development Board
Tel: +973 17 589 903
Email: internationalmedia@bahrainedb.com
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.
The Bahrain Economic Development Board (EDB) is a dynamic public agency with an overall responsibility for attracting inward investment into Bahrain, and is focusing on target economic sectors in which the Kingdom offers significant strengths.Key areas of focus include manufacturing, ICT, and logistics and transport services as well as other sub-sectors. The Financial Services sector in Bahrain is particularly strong and the EDB supports in the continuing growth of the banking industry and key sub-sectors, including Islamic Finance, Asset Management, Insurance and Re-Insurance.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com
