June 17, 2014
Manama: As part of a four-day visit to the Kingdom of Bahrain, businessmen and trade officials from Hunan Province in the People’s Republic of China met with representatives from the Bahrain Economic Development Board (EDB) to discuss the Kingdom’s investment climate, advantages of setting up businesses in the Kingdom, as well as the country’s Industrial policy.
The delegation consisted of representatives from the Chinese Ministry of Commerce, Hunan Chamber of Commerce and Industry, alongside members from specialised sectors in construction, new energy, and solar energy, as well as sectors that involve hardware .
The delegation’s trip will include visits to the Bahrain Logistics Zone (BLZ) and Bahrain International Investment Park (BIIP) amongst other relevant industrial zones. This follows recent visits by a Chinese business delegation from Shenzhen city and an investment delegation from China Overseas Development Association (CODA) to the Kingdom, who were both hosted by the EDB.
The Hunan Province is considered a prominent developing Chinese province, with the volume of exports and imports reaching USD21.941 billion in 2012, an increase of around 15.5% compared to previous years. The export of modern technological products have grown to 75.8% to reach USD1.38billion which currently makes up 11% of the province’s total exports. Electronic and mechanical equipment exports from the province have also increased to around 42.6%, reaching USD5.09billion, which represent 40.4% of the total exports of the Hunan Province.
A number of leading Chinese companies including Huawei, Bank of China, China Harbour Engineering, Beijing Jangho Curtain Wall Co. Ltd and Daily Wealth Ltd have established offices in the Kingdom. China is currently the third largest market for Bahraini exports outside of the GCC, and this year marks 25 years of diplomatic relations between the two countries.
-ENDS-
For Further information please contact:
Bahrain Economic Development Board
Tel: +973 17589966
Email: nc@bahrainedb.com
