May 24, 2015
Manama, 24 May 2015: A delegation of close to one hundred business leaders from the Chinese region of Ningxia, led by the Vice Governor of Ningxia and the China Chamber of International Commerce (CCOIC), are on a visit to Bahrain this week.
The delegation also met with Mr. Khalid Al Rumaihi, Chief Executive of the Bahrain Economic Development Board (EDB); and officials from the Ministry of Industry and Commerce and Bahrain Chamber of Commerce and Industry (BCCI). The two day visit, designed to boost business and trade ties between China and Bahrain, included a Bahrain-China business seminar, a number of high level meetings between Chinese and Bahraini business leaders.
The visit is also set to witness the signing of two MoUs. The first is between the Ningxia China Council for the Promotion of International Trade (CCPIT) and the EDB, which aims to enhance mutual cooperation to promote economic relations between the two countries in the fields of agriculture and food, energy and chemicals and manufacturing. A second MoU will also be signed between the Ningxia CCPIT and the BCCI, aiming to further strengthen trade cooperation between the two organisations.
Mr. Khalid Al Rumaihi, Chief Executive of the EDB said:
“There is evidence that Bahrain and China were trading along the old Silk Road hundreds of years ago. This long history provides a strong foundation for the future of the relationship between our two countries as Bahrain has become a hub today for Chinese businesses looking to access the fast-growing Gulf and wider Middle East region along a modern day Silk Road.
“The six economies of the Gulf Cooperation Council (GCC) are diversifying their economies away from oil and gas and have rapidly expanding affluent populations. This presents significant opportunities for international investors, particularly those in China. It also supports the Kingdom’s continuous efforts to diversify the economy and create quality jobs. .”
A large number of Chinese businesses have already established operations in Bahrain to access the wider GCC market, including: Bank of China; China Harbour Engineering Company; Curtain Wall Co. Ltd; Daily Wealth Limited; Wuhan Lingyun Building Decoration Engineering Co. and Huawei. Furthermore, in September 2015 the Bahrain Dragon City, a Chinese themed shopping mall housing as many as 500 Chinese companies, will open its doors to the public.
The delegation’s visit follows a series of senior visits to China from Bahrain. In October 2014, the Bahrain EDB visited Beijing, Guangzhou, Shenzhen and Hong Kong as part of a ten day business delegation visit to China, where 13 MOUs were signed between Bahraini companies and their Chinese counterparts. In 2013, HM the King visited Ningxia as part of an official visit to China and to attend the China-Arab states Expo.