Manama: The Bahrain Pavilion at the China International Fair for Investment and Trade (CIFIT) in Xiamen opened yesterday.
Industry and Commerce Minister Zayed Al Zayani and Economic Development Board (EDB) chief executive Khalid Al Rumaihi are leading a high-level Bahrain delegation on a tour of China.
Bahrain is participating as guest country of honour at CIFIT and is the first-ever Middle Eastern country to be awarded that honour.
The Bahrain Pavilion showcases the kingdom’s business story, investment opportunities and the advantages Bahrain offers to Chinese and international investors.
In particular, through the Bahrain Pavilion, the EDB is planning to showcase to visitors the numerous investment opportunities in high growth sectors in which Bahrain can offer Chinese businesses significant advantages.
These including financial services, tourism, ICT, manufacturing and logistics.
The Bahrain Pavilion is organised by the EDB in co-operation with strategic partners Tamkeen, Unido, Bahrain Airport Company, Alba, Batelco, National Bank of Bahrain (NBB), Kuwait Finance House and Al Salam Bank.
Chinese companies Huawei and Chinamex are also participating in the roadshow.
Bahraini small and medium enterprises (SMEs) representing sectors such as manufacturing, information and communications technology (ICT) and tourism among others are also featured at the pavilion.
The EDB said CIFIT is set to give Bahraini businesses and government officials the opportunity to engage in high-level talks and meetings with Chinese officials, private sector leaders and Chinese businesses looking to access the Gulf market.
A Bahrain-China Business and Investment Forum will be organised today in Xiamen to showcase Bahrain’s investment opportunities.
The keynote speech will be delivered by Mr Al Zayani with opening remarks from Mr Al Rumaihi and a statement by Bahrain’s Ambassador to China Dr Anwar Al Abdulla.
The forum will also feature a panel discussion on the kingdom’s business environment and will be moderated by EDB executive director of marketing and communications Vivian Jamal.
Panellists will include: BFG International managing director Dr Samer Al Jishi, Haji Hassan Group director Adel Al A’ali, Huawei Bahrain country manager Paul Fengnan, Tamkeen’s executive director for customer service and support engagement Yousif Ali and NBB general manager for treasury overseas and investment banking group Hussain Al Hussaini.
The forum will see the signing of various agreements between the EDB and Chinese businesses, including letters of intent by two Chinese companies, each announcing plans to establish operations in Bahrain to access the fast-growing Gulf market.
The companies are Jinlou Water and World Wide Logistics.
Three memorandum of understanding (MoUs) will also be signed during the forum, with the first agreement between the EDB and the China International Investment Promotion Centre - Xiamen aiming to strengthen trade ties between China and Bahrain.
The Bahrain Chamber of Commerce and Industry (BCCI) and the China Council for the Promotion of International Trade-Fujian (CCPIT-Fujian), will also be signing an agreement of bilateral co-operation.
The third MoU will be signed between the Bahrain Businesswomen Society and Xiamen Association of Women Entrepreneurs.
The agreement looks to establish a practical framework of co-operation for the empowerment and entrepreneurship of businesswomen in the private sector of Bahrain and Xiamen.
The forum will also witness Chinamex signing three MoUs during the forum in Xiamen, to provide logistic services to the Dragon City Bahrain, to be opened later this year.
The agreements will have the companies involved in the development of Dragon City, including providing import and export services, building online sales network and e-commerce platform services to the tenants.
The three companies are Fujian Quanzhou Dragon City Import and Export Trading Company, Beijing Dragon Commerce Company, and China Dragon Mart Information Technology Company.
“Bahrain is keen to continue its bilateral co-operation with China and strongly supports China’s vision of ‘One Belt One Road,’ which aims to build a community of shared interests between the Arab world and China,” Mr Al Zayani said.
“This roadshow represents the perfect opportunity to further strengthen our commercial ties and we look forward to helping many more Chinese businesses to take advantage of investment opportunities that the fast-growing GCC market presents, by using Bahrain as a base for their GCC operations.”
According to Mr Al Rumaihi, China and Bahrain have been trading partners for thousands of years and Bahrain was an important maritime hub along the first Silk Road.
“That relationship has continued to evolve, and today China is one of Bahrain’s most important trading partners.
“In fact, non-oil trade has grown from $890 million in 2009 to more than $1.98 billion last year,” he added.
NBB chief executive and director Abdul Razak Al Qassim said the bank was participating in the tour to showcase Bahrain’s long history as an established financial centre for the Middle East.
“Bahrain’s more than 400 financial institutions and world-class regulation stand ready to assist Chinese businesses as they look to access new business opportunities in the Gulf.”
Bahrain Airport Company chief executive Mohamed Al Binfalah, who’s also a part of the delegation, said Bahrain has been a pivot of trade connecting East and West for thousands of years and the country’s excellent land, sea and air transport links have played an essential role in developing Bahrain’s position as a prime ‘Gateway to the Gulf’.
“China is a very important trading partner for Bahrain and our strategic location has provided Chinese businesses with unrivalled access to the Gulf markets,” he said.
“Our participation in this event reflects the strong ties between our two nations.
“We look forward to showcasing our vision for the kingdom’s aviation development and to explore new partnerships to further boost co-operation and trade,” Mr Al Binfalah added.
Batelco Group chief executive Ihab Hinnawi said Bahrain has some of the most sophisticated ICT infrastructure in the Middle East and a liberal and competitive telecoms market.
“As Bahrain and other countries around the Gulf continue to strive to introduce new technologies an exciting opportunity exists for
Chinese ICT and telecoms businesses, well-known around the world as pioneers of new technologies in this field.”
Bahrain’s open business environment has attracted international businesses from around the world looking to access the fast-growing GCC market, currently worth $1.6 trillion and expected to reach $2trn by 2020.
The Bahrain delegation includes representatives from the BCCI, Al Zayani Investments, Haji Hassan Group, Al Arayedh Group Holding, BFG International, Projects Construction and AJM Kooheji Group among others.
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