Bilateral trade between Bahrain and China is likely to reach $1.9 billion, a huge leap compared to the past years, said a report citing a leading local businessman.
The strengthening of relations with China will pave the way to more opportunities and benefits that can be gathered from the experiences of Chinese markets, Fareed Bader, the chairman and managing director of Bader Group was quoted as saying in the Gulf Daily News, our sister publication.
The Bahraini business leader was part of the delegation that accompanied His Majesty King Hamad on his recent historic visit to China.
Bader said the commercial sector of Bahrain welcomed the step as a wise and thoughtful initiative from the leadership towards developing Asian countries.
“Countries like China, South Korea and Japan that are economically booming, hold significant standing in the global economy and will bring a great qualitative leap in the promotion and development of our economy, and in turn help achieve more gains and achievements,” he said.
“The commercial sector in Bahrain has demonstrated its readiness to invest and promote bilateral relations between Bahraini enterprises and Chinese companies in all sectors that will eventually contribute to the overall development of the nation.”
These relations have been strengthened with constant meetings, official visits and exhibitions that have shed light on a number of trade agreements being signed between the two countries.
“We commend and declare our support towards the great efforts made by Industry and Commerce Minister Dr Hassan Fakhro in moving towards the Far East in creating partnerships in economy and trade with those countries that have made progress at stunning levels.
“We hope to increase and strengthen these relations through the establishment of conferences, forums, workshops and exhibitions specialised in business activities which focuses on strengthening co-operation between China and Bahrain in the fields of energy, finance, agriculture, culture, education, tourism and other aspects like job opportunities.
“This collaboration will also open an arena of large commercial partnerships, which undoubtedly will reflect positively in achieving sustainable development.”
China is one of the most important players on an international level and a huge market of oil products from petrochemical and metallurgical industries based in countries across the GCC.
Bahrain boasts an attractive environment for investment and business ventures due to its range of facilities, making it one of the most promising economies in the region.