TRADE between Bahrain and Japan has remained steady despite the negative impact of the coronavirus (Covid-19) pandemic on global trade relations, said a top envoy.
However, exchanges between the two nations are expected to resume strongly once the crisis blows over, said Japanese Ambassador Hideki Ito.
He added that there was a growing interest among companies in Japan to set up base in Bahrain and be a part of mega infrastructure projects, such as the Bahrain Metro.
“Japan has been a major trade partner of Bahrain for many years and I have many Bahraini friends whose families have strong business ties with Japan,” said Mr Ito.
“The overall trade volume between Japan and Bahrain has been steady at around $1 billion, but in 2018 and 2019, exports from Bahrain to Japan increased and the total trade volume was around $2bn.”
Japan imports from Bahrain mainly petroleum products and aluminium, while Bahrain imports from Japan mainly machinery and vehicles.
Bilateral relations between Bahrain and Japan started in 1934 when Bahrain’s first oil exports abroad went to Yokohama on the tanker, El Segundo.
“In addition, the first shipment of Bahraini LPG went to Japan on the Japanese tanker YUYO Maru in 1980, and the first shipment of Bahraini methanol also went to Japan in 1985.”
Japanese companies have contributed to the nation-building efforts of Bahrain by taking part in key projects.
“I understand there are various future projects under consideration by the Bahraini government, such as a Bapco-related project and Bahrain Metro.
“We have extensive experience on the Dubai Metro network and Doha Metro and it’s a great opportunity for Japanese companies to work on the planned Bahrain Metro.”
The proposed Bahrain metro rail system, estimated to cost between $1bn and $2bn, will feature 20 stations across the kingdom, with tenders likely to be bid for later in the year.
The envoy added that the FinTech sector and Islamic banking were two other areas where Japan was interested to collaborate in.
He said that with the opening of the new passenger terminal, Bahrain was moving in the right direction to attract travellers from across the globe including Japan.
“Bahrain offers the right environment and the people are very open-minded and receptive to foreign cultures,” said Mr Ito, who previously served as the Japanese deputy ambassador to Bahrain between 2007 and 2009.
Speaking on security co-operation, he said Japan had deployed its naval assets and aircraft in the region to assist counter-piracy operations in recent years.
Japan took command of the Combined Task Force 151 for the fourth time earlier this month, under the Bahrain-based Combined Maritime Forces (CMF), a multinational naval partnership of 33 nations.
“We have every intention to accelerate co-operation with Bahrain, which is an island nation just like Japan, and also situated at a geopolitically important position to achieve economic development and peace in the region.”
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