Delegates to hold high-level meetings with companies and investors
Manama, 9 October 2017: The Bahrain Economic Development Board (EDB) will participate in the first Italian Arab Business Forum in Milan, and in the Confindustria Assafrica & Mediterraneo forum in Rome, Italy from 11-13th October 2017. A high-level Bahraini delegation will showcase the investment opportunities and competitive advantages that Bahrain offers in the financial services, manufacturing, and tourism sectors. Participation in such business forums reflects one part of the EDB and other government entities’ efforts to attract investment, further economic growth, and create jobs in the local market.
The Bahrain delegation will include H.E. Zayed Bin Rashid Alzayani (Minister of Industry, Commerce and Tourism), H.E. Khalid Al Rumaihi (Chief Executive of the EDB), H.E. Dr. Mohammed Abdulghafar (Ambassador of Bahrain to France and Italy) and senior representatives from the private and public sector. During the forums, the Bahrain delegation will also hold bilateral meetings with Italian businesses and investors.
“Bahrain has held strong commercial ties with Italy since the early 1970s,” said H.E. Zayed Bin Rashid Alzayani, Minister of Industry, Commerce and Tourism. “Political leadership in both countries has played a key role in developing and strengthening these relations to meet common aspirations and goals. This visit is a perfect opportunity to further our relationship with Italy by promoting the current economic opportunities in Bahrain, as well as showcasing the ideal investment environment open to all industrial, commercial and tourism business activities and projects.”
Bahrain and Italy have been trading partners since 1973, with agreements between the two countries dating back to 2000. The countries have also signed two economic agreements relating to the protection of investments and equal treatment of anchorage and port taxes. In 2006, the Bahrain Chamber of Commerce and Industry signed an MOU with the Union of Italian Chambers.
“Bahrain offers investors a wide range of opportunities. For Italian investors in manufacturing for example, our strategic location in the middle of the Gulf, with easy access to the GCC market worth US$1.5 trillion, is especially attractive,” said the EDB’s Chief Executive, H.E. Khalid Al Rumaihi. “Bahrain and Italy enjoy close trade relations. Bahrain is home to more than 182 Italian commercial enterprises across various sectors, and non-oil trade between the two countries increased from US$361 million to US$367 million between 2015 and 2016. By participating in these forums we are able to promote the competitive advantages offered by Bahrain to international investors, in turn attracting further investments and creating diversified employment.”
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Notes to editors:
Further information:
Bahrain Economic Development Board
Tel: + 973 1758 9966
Email: communications@bahrainedb.com
About The Bahrain Economic Development Board (EDB)
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
The EDB focuses on several economic sectors that capitalise on Bahrain’s competitive advantages. These sectors include financial services, manufacturing, ICT, tourism, logistics and transport.
For more information on the Bahrain EDB visit www.bahrainedb.com; for information about Bahrain visit www.bahrain.com.
