April 01, 2015
Manama, Economic Development Board, 1st April 2015: An official business delegation from the Hunan Province in the People’s Republic of China today held meetings with the Economic Development Board (EDB) where they learnt more about Bahrain’s business environment. They were also given a tour at Dragon City site.
Officials from the EDB briefed the visitors on the Kingdom’s investment climate and competitive advantages through a presentation conducted by the EDB, which introduced the benefits of setting up business in the Kingdom and the country’s diversified and free economy. The meeting also discussed the country’s positive international rankings, which are testament to the Kingdom’s policy in addressing economic changes with flexibility. It also showcased Bahrain uniqueness in providing national qualified workforce, and affordable and low cost living environment which contribute to the country being a gateway to the gulf market.
Led by Mr. Xu Xiangping, Director General of Department of Commerce of Hunan Province, the delegation comprises of twenty-three business representatives, and will hold meetings with Tamkeen, the Bahrain International Investment Park (BIIP), and the Bahrain Chamber for Commerce and Industry (BCCI).
The visit aims at strengthening bilateral economic and trade relations between the two countries, and is a result of the visit by a high-level business delegation from Bahrain to the People’s Republic of China last year.
Bahrain and China celebrated 25 years of bilateral relations last year. In October, a 10 day visit by a high-level business delegation from Bahrain aimed at strengthening economic and trade ties between the two countries. The trip, which included visits to four of China’s main commercial centres; Beijing, Guangzhou, Shenzhen and Hong Kong and followed on the successful visit by His Majesty King Hamad bin Isa Al-Khalifa to China in September 2013, led to the signing of 13 agreements with various Chinese companies and trade entities. A NOGA delegation also visited China in December last year, where they met with high level officials from the China National Energy Administration (NEA) as well as leading companies from the oil, gas and petrochemicals sector in the country.
In 2011, total bilateral trade between Bahrain and China, excluding hydrocarbons, reached US$1.7billion. Machinery and mechanical equipment led Chinese imports to Bahrain in 2011 followed by minerals while hydrocarbons led Bahrain’s produce exported to China in the same year.
The EDB established an office in China in 2013 as part of its strategy of attracting FDI into the Kingdom. The office plays a role in inviting Chinese delegations to the Kingdom.