June 14, 2015
Manama: A delegation from the China Arab Council for Investment Promotion (CACIP) met with representatives from the Economic Development Board (EDB) as part of a three-day visit to Bahrain. The visit, which was organized by the EDB, aims to strengthen economic ties between Bahrain and China, and includes Chinese businessmen and women representing several sectors, including manufacturing, technology, and healthcare services.
The CACIP delegation visit marks the 12th Chinese delegation visit to Bahrain in 2015, representing different regions and sectors in the People’s Republic of China.
Since its establishment as an independent non-profit organization in 2010 by Chinese and Arab businessmen and academics interested in trade and bilateral relations, the CACIP looks to promote investment cooperation between China and the Arab states. The council works to help Chinese government organisations and companies in order to strengthen their economic and trade relations with their Arab counterparts through investment promotion, research, and technology.
EDB officials introduced the visiting delegation to Bahrain’s economic and investment climate and its key competitive advantages, highlighting the Kingdom’s economic freedom, diversity, and flexibility, which have led a number of prominent international companies to launch operations in the Kingdom, in order to take advantage of one of the most skilled national workforces in the region, low operating costs, and high human capital development, to access the neighboring GCC market.
Officials also presented Bahrain’s economic achievements, showcasing the Kingdom’s positive performance in a number of leading international indices dealing with competition and the economy.
The CACIP delegation will also meet representatives from Tamkeen, the Bahrain International Investment Park (BIIP), the Ministry of Works, and the National Health Regulatory Authority (NHRA) and will participate in a tour to view the upcoming Dragon City Project.
The delegation’s visit follows on a series of high-level visits to China from Bahrain, including a historic visit by His Majesty King Hamad bin Isa Al Khalifa to China in 2013. In October 2014, the Bahrain EDB and high-level Bahraini officials visited Beijing, Guangzhou, Shenzhen and Hong Kong as part of a ten day business delegation visit to China organised by the EDB, where 13 MOUs were signed between Bahraini companies and their Chinese counterparts.
In early April 2015 the EDB signed an MOU with the Hunan Provice’s Ministry of Commerce during a visit conducted by the official Chinese trade delegation to Bahrain which aimed to promote further bilateral trade and economic relations between Bahrain and China.
Trade between Bahrain and China reached 1.98 billion US dollars in 2014, excluding crude oil, with machinery and mechanical appliances topping the list of imports, followed by metals, while Chemicals formed the most prominent Bahraini exports to China for the same year.
In 2014, The Economic Development Board established an overseas office in the People’s Republic of China, which plays a key role in promoting the Kingdom of Bahrain in the People’s Republic of China. The EDB China office invites delegations to visit Bahrain as part of the EDB’s strategy of attracting foreign investment to the Kingdom and of targeting specific sectors of the economy which capitalise on Bahrain’s key competitive advantages and provide significant investment opportunities in the Kingdom.
For Further information please contact:
Bahrain Economic Development Board
Tel: +973 17589966