A NEW joint post-Brexit trading partnership between Bahrain and the UK is being finalised, revealed a top British minister.
UK Minister for the Middle East and North Africa James Cleverly – who is visiting Bahrain – revealed details of a limited free trade agreement currently on the table.
Bahrain has reportedly drafted a white paper on an ambitious trade plan with its former protectorate now free of its European Union (EU) shackles.
“We have been looking at finalising the trade and investment review, so we can make it quicker and easier for government to government or through companies to work more closely together,” Mr Cleverly told the GDN last night in an exclusive interview.
“It is coming towards its completion and we are exploring a variety of options.
“We have not settled on a particular model yet, but the aim is to increase both bilateral trade – UK to Bahrain – but also regional trade, UK to the GCC.”
He added his trip to Bahrain closely followed a visit by his colleague, UK Minister for International Trade Ranil Jayawardena, who also met senior officials in Manama.
Trade relations have grown remarkably between the two nations, with the overall British investment in Bahrain totalling around $550 million last year, while the GCC is the fourth largest trading partner for the UK, after the US, the EU and China.
Furthermore, Mr Cleverly stated the UK was keeping ‘an open mind and being flexible’ after leaving the EU.
“We do not want to follow a kind of a pre-existing pattern and whatever we agree collectively works for both the UK and its partners,” he said
“I have had very good meetings here to reinforce our strong partnership and to explore potential new trade and investment opportunities, and have also been speaking about long-term co-operation on defence and security.”
The minister explained as the world comes out of the Covid-19 crisis it was imperative to build economies back up ... and that required the UK strengthening trade ties with Bahrain and other Gulf nations.
“We’re not slow off the blocks, but really sprinting forward,” he added.
“I think the vaccination programme here in Bahrain has been very impressive.
“We’re very pleased that the decisions that the UK government made earlier on in this pandemic, about our procurement practices and investing with the pharmaceutical industry, are paying off.”
He stated the Oxford-AstraZeneca vaccine made in the UK was proving to be very effective.
Mr Cleverly said Covid-19 restrictions have started to ease in the UK, with early signs of a reduction in hospitalisation and fatalities.
“We have to remain vigilant and want to find ways of facilitating international travel in a way that is safe, and we will be looking at a coronavirus status certification.
“This is in order to give us the information that we need to build a resilient programme that facilitates international travel and commerce, while simultaneously keeping us safe from the virus.”
Mr Cleverly also took part in a roundtable yesterday organised by the International Institute for Strategic Studies (IISS) at its Middle East office in Bahrain.
The event aimed to engage young Bahrainis in active discussion with high-level government officials about the strategic and security challenges facing the region.
sandy@gdn.com.bh
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