January 26, 2014
Manama, Kingdom of Bahrain: A high level business delegation arrived in Bangalore, India, today to attend the CII Partnership Summit: “Emerging Global Value Chains: Building Partnerships”, taking place at the Taj West End Hotel from 27-29 January.
The three day event will see back to back plenary sessions with government and private sector leaders from around the world, discussing critical issues relating to global trade and economic partnerships. The Bahrain delegation includes:
- H.E. Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive, Bahrain Economic Development Board
- Dr. Essam Fakhro, Chairman, Bahrain Chamber of Commerce and Industry
- Othman Mohamed Sharif Al Rayes, Treasurer and Board Member, Bahrain Chamber of Commerce & Industry
- Khalid Al Amin, Board Member, Bahrain Chamber of Commerce and Industry
- Mohammed Dadabhai, Chairman, Dadabhai Group
- Vivian Jamal, Executive Director – Business Development, EDB
H.E. Kamal bin Ahmed said:
“It is a great pleasure to be visiting Bangalore and representing Bahrain at the CII Partnership Summit. We Bahrainis are an outward-looking people, and great advocates for trade liberalisation, understanding that by opening our markets we can better facilitate investment and encourage growth across our region and beyond. Bahrain has an open and liberal economy that enables Indian and other international investors to thrive, and grants unrivalled access to the other markets of the GCC. Not only that, Bahrain has a number of international free trade agreements in place, including with the USA.”
Dr. Essam Fakhro said:
“The GCC is a fast growing market, currently worth $1.5 trillion, and Bahrain is uniquely positioned at its heart offering Indian and other international investors with unrivalled access. Bahrain has a favourable business environment that includes clear and easy regulation, competitive tariffs, a highly skilled local workforce, and quick access to the other GCC markets, including Saudi Arabia, the GCC’s largest market, via a causeway.”
India and Bahrain have a longstanding bilateral economic relationship strengthened by growing trade, which reached $1.7 billion in 2011 according to the International Monetary Fund. A large number of Indian businesses have established operations in Bahrain as a means of accessing the wider Gulf market, which is now worth $1.5 trillion and is set to reach $2 trillion by 2020. 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.
Indians also make up a sizeable proportion of Bahrain’s population and enhance the Kingdom’s cultural heritage. In fact, more than 350,000 Indians live and work in Bahrain.
-ENDS-
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.
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
