EDB meets three Chinese business delegations

Manama, Dec. 6 (BNA): The Economic Development Board (EDB) met three Chinese business delegations in the past week, with aims to strengthen investment cooperation between China and Bahrain. Representatives from the EDB discussed strengthening economic ties with members from the Quanzhou province, which included representatives of businesses in the areas of water treatment, logistics and retail. As part of the meeting, the members were briefed on the Kingdom’s open business environment and the investment opportunities it offers, as well as informed of EDB’s efforts to attract foreign businesses to the Kingdom and encouraging the next step for them to establish operations in the Kingdom. The EDB representatives also introduced the delegation to Bahrain’s competitive advantages, including its national qualified workforce, and affordable and low cost living environment. Commenting on the visits, Khalid Al Rumaihi, Chief Executive of the EDB said: "The EDB has met with 19 Chinese business delegations this year, representing different provinces and areas from the People’s Republic of China. These visits aim to further strengthen bilateral trade and investment relations between our two countries and showcase Bahrain’s business environment as an attractive choice to Chinese businesses, specifically through joint cooperation and ventures." "This also highlights the success of efforts by the EDB to attract Chinese investments to the region, who are looking to benefit from the Kingdom’s competitive business advantages as well as its strategic location as a gateway to the Gulf markets." Al Rumaihi met with a Chinese delegation representing the Invest Shenzhen organisation, a dedicated entity to attract and promote business and trade in Shenzhen. The meeting discussed Bahrain’s business environment, covering the Islamic finance sector specifically as well as means of cooperation between the two sides and attracting Bahraini investments to Shenzhen’s Qianhai economic zone. In a separate meeting, officials from the EDB discussed trade ties with representatives from the China Council for the Promotion of International Trade (CCPIT) – Qinghai, which includes various Chinese businesses in different sectors looking to expand their operations internationally. The China Council for the Promotion of International Trade (CCPIT) – Qinghai include companies in different areas that include law, real estate development, tourism, airlines, manufacturing, banks as well as companies that specializes in financial services, ICT, legal advisory and electronics. In September, a high-level business delegation from Bahrain conducted a 10 day visit to the People’s Republic of China, organised by the EDB. The visit resulted in the signing of 15 agreements between Chinese companies and trade entities and look to strengthen economic and trade ties between the two countries. The delegation also participated in the China International Fair for Investment & Trade (CIFIT), at which Bahrain was the first country in the Middle East to be guest country of honour.