Manama, 9th May 2017: The Transport Logistic exhibition was opened today in Germany with the participation of a high level delegation from Bahrain that is headed by HE Kamal bin Ahmed Mohamed, Minister of Transportation and Telecommunications, and HE Khalid Al Rumaihi, Chief Executive at the Bahrain Economic Development Board (EDB). The delegation is taking part in this important event to showcase the opportunities Bahrain offers international investors in the sector.
The EDB’s participation in the Exhibition, which is being held in Munich from 9th – 12th May, will highlight the underlying strengths of the Kingdom’s economy, especially in sectors where Bahrain provides a competitive advantage such as transport and logistics, and will help attract investment and create jobs in the local market.
The high-level Bahrain delegation is promoting the investment opportunities within Bahrain’s transportation and logistics sector through bilateral meetings with exhibitors, businesses and investors, at a dedicated stand within the Exhibition. In addition to the Minister of Transportation and Telecommunications and the Bahrain EDB, the Bahrain delegation includes senior representatives from both the private and public sector.
HE Khalid Al Rumaihi, Chief Executive at the EDB, commented on the delegation’’s participation in the exhibition: “Bahrain is strategically located in the heart of the GCC, has excellent transport links with neighbouring markets and boasts the shortest travel times in the region between its transportation hubs and logistics processing zones. These are highly desirable traits for the major logistics companies that use Bahrain as their regional hub.
“By taking part in this Exhibition we are able to promote the competitive advantages of the transport and logistics sector in the Kingdom, with a view to attracting further investment to this vital sector.”
Transport and Logistic is one of world’s leading exhibitions in the field of logistics, transportation, information technology and supply chain. The biannual exhibition brings together a plethora of companies and businesses in the logistics and transportation sectors and provides a platform to view innovative products and the latest systems and technology. In 2015 approximately 55,000 visitors from 124 countries attended the exhibition which included a packed programme and a forum with 200 international sector experts.
Bahrain and Germany have been strong trading partners since the beginning of economic bilateral relations in 1972. Non-oil trade between Bahrain and Germany has grown from BHD141 million in 2009 to more than BHD198 million in 2016. Many leading German companies have regional operations based in Bahrain, including; BASF, RMA, DHL, Roland Berger, SMS Meer, Allianz Global Investors, and Agility.
Bahrain has one of the strongest logistics sectors in the region. The recent 2017 World Bank Doing Business Report ranked Bahrain as one of the top most improving countries in the world, highlighting logistics reforms such as improved processing at the King Fahd Causeway. The Khalifa Bin Salman Port has been ranked as the fastest in the GCC in terms of container clearance, with an average wait of less than 3 hours, and the fastest regionally for truck clearance with an average wait of 33 minutes.
By 2016 the Bahrain Logistic Zone was 81% occupied and growing at a rate of 42%. In addition, the logistics sector in the Kingdom has progressed 8 places in the Logistics Services Performance Index and now ranks 44 out of the 160 countries surveyed.
The logistics sector is strategically important to the growth and diversification of Bahrain’s economy. It contributes 7% to the Kingdom’s GDP and provides more than 19,000 jobs for the local market.
Notes to editors:
About The Bahrain Economic Development Board (EDB)
The Bahrain 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 tourism, ICT, manufacturing 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