The EU ambassador to Bahrain Christophe Farnaud believes the EU-Bahrain trade and investment relationship ‘has great potential Bahrain being one of the most open economies in the Middle East and acting as a hub for many EU businesses active in the Gulf’.
He was co-hosting the official launch of the European Chamber of Commerce in Bahrain (ECBH) last night at a reception hosted jointly by the German ambassador in Bahrain, Henning Simon.
It marks an important milestone in strengthening economic relations between Bahrain and Europe.
“The European Union has been supporting the European Chambers across the world as we see great value in them presenting a unified EU business voice on key issues that we can benefit from and take into account in our intergovernmental contacts,” said Mr Farnaud.
The French diplomat is also the EU Ambassador to the Kingdom of Saudi Arabia, and Sultanate of Oman.
The 61-year-old’s early diplomatic career included posts in Jordan and Egypt and included a spell as director general for Middle East and North Africa at the French Ministry for Europe and Foreign Affairs.
The Chamber in Bahrain is the second in the Gulf after the foundation of the European Chamber of Commerce in Saudi Arabia more than two years ago and shows ‘the importance’ the EU places on fostering bilateral relations.
Chairman of the ECBH, Nawaf Al Zayani, said the launch event represents an ‘important opportunity’ to further strengthen business relations between Europe and Bahrain.
“Our ambition is to create a practical platform that connects companies, encourages new partnerships and supports the growth of European business activities in Bahrain,” he said. “We look forward to working closely with our members, Bahraini institutions and European partners to achieve these objectives.”
What has been missing in the past has been ‘one voice, one address, one platform to identify, connect and to facilitate the development of these interests’.
Tonight all those present believe they have taken a big step forward. ECBH General Manager Sherine Fakoussa added that the focus will be on turning the Chamber’s network into tangible opportunities and real value for businesses.
“Partnerships will be at the heart of how we work,” she added.
Working closely with the EU delegation, European embassies, Bahraini government institutions and business organisations, ECBH will seek to complement existing initiatives and contribute to closer economic ties between Bahrain and Europe.
Following its launch, the ECBH will focus on expanding its membership, developing its services and establishing a sustainable foundation for long-term growth and impact.
As reported in the GDN, key issues on the agenda include prospects for a Strategic Partnership Agreement between Bahrain and the EU, progress towards an EU–GCC Free Trade Agreement (FTA), and preparations for the upcoming EU–GCC Summit in Riyadh on October 24, where key economic and security frameworks are on the agenda.
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