Economic Development Board Hosts South Korean Journalists

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February 10, 2015

Manama, Economic Development Board, 10th February 2015: The Economic Development Board (EDB) is hosting this week a media delegation from South Korea. This comes as part of the EDB’s efforts to promote investment opportunities in the Kingdom and further strengthen bilateral ties between the two nations.
The journalists represent a number of high profile South Korean publications, including: Chosun IIbo, the Korea Economic Daily, and Economist. The trip follows a number of business delegation visits between the two countries starting in 2012, and further reiterates the strong bilateral relations between Bahrain and South Korea. The total trade between South Korea and Bahrain in 2011 was $364 million.
H.E. Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications and Acting Chief Executive of the EDB said:
“These visits come as part of the EDB’s efforts to showcase Bahrain’s tradition of openness, with strong economic and cultural bi-lateral relations. This visit will allow us to further highlight the ties between Bahrain and South Korea, and to introduce to the Korean market the many competitive advantages that the Kingdom has to offer interested investors”.
The three-day visit includes meetings and interviews with a number of public and private sector representatives such as the EDB, the Central Bank of Bahrain (CBB), the Bahrain International Investment Park (BIIP), Samsung Electronics (A.A. Bin Hindi), and Woori Bank. Additionally, the journalists will also experience Bahraini culture with a visit to the National Museum.

Economic Development Board Hosts a Number of International Journalists Covering the Insurance Sector

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February 08, 2015

Manama, Economic Development Board, 8th February 2015: The Economic Development Board (EDB) hosted a delegation of journalists from a number of international markets covering the insurance sector, on the sidelines of the 2015 Middle East Insurance Forum (MEIF) which was hosted with the strategic partnership of the Central Bank of Bahrain (CBB). This comes as part of the EDB’s efforts to promote investment opportunities in the Kingdom and highlight the Kingdom’s key competitive advantages and long running history in its financial services sector.
The journalists represent a number of high profile international publications including UK publications, Reinsurance and Life Insurance International, Singapore publication, Middle East Insurance Review, and GCC based Premium ME. The visit follows on a previous media delegation visit hosted by the EDB during the 2014 MEIF.
The two-day visit included meetings and interviews with a number of public and private sector representatives such as the EDB, CBB Bahrain Institute of Banking and Finance (BIBF), Bahrain Insurance Association, Hannover Re, and AXA Gulf Insurance, as well as attendance at the 2015 Middle East Insurance Forum. Additionally, the journalists also experienced Bahraini culture with a visit to the Bahrain National Museum.
H.E. Kamal bin Ahmed Mohammed, Minister of Transportation and Telecommunications and Acting Chief Executive of the EDB said:
“Through visits such as these, we are able to introduce a global audience to the numerous opportunities available in the Kingdom, and promote the competitive advantages Bahrain has to offer, particularly in financial services. Bahrain’s financial services industry has a long history, and benefits from a strong regulatory environment, which has allowed Bahrain to become one of the key financial services centers in the region”.

Delegation from Economic Development Board promotes the Kingdom in USA

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January 18, 2015

​Manama, Economic Development Board, 18th January 2015: The Economic Development Board (EDB) participated in a visit to the USA from 6th to 16th January 2015 and met business leaders from the advanced technology sector in Seattle, Silicon Valley, and the State of Texas to discuss business ties with the Kingdom of Bahrain.

HE Kamal bin Ahmed Mohamed, Minister of Transportation and Telecommunications and Acting Chief Executive of the Bahrain EDB, said: “This was a valuable opportunity for us to connect with the business leaders from the advanced technology sector in the USA as part of our continuous efforts to attract investors into the Kingdom through showcasing the Kingdom’s competitive advantages, including its open and diverse economy”.

EDB officials presented the opportunities the Kingdom offers for investors in the technology sector and the ability to access the neighbouring markets by utilising the Kingdom’s core benefits of an established ICT infrastructure, low operating costs and an experienced local workforce.

In addition, the delegation participated at the annual HighTech Roadshow in Texas, which was organized by the National US-Arab Chamber of Commerce, during which they joined a number of business forums and seminars about enhancing US-Arab trade, and met with business leaders in the cities of Austin, Houston, and Dallas, where they were able to shed light on the numerous cooperation opportunities between the US and the Arab region.

The National US-Arab Chamber of Commerce, established 50 years ago, focuses on connecting American businesses with Arab economies through its offices in Washington DC, Houston, Los Angeles, New York City and Salt Lake City.

The Kingdom of Bahrain was the first country in the GCC to sign a Free Trade Agreement with the US in 2006, which has resulted in a 48% increase in commercial exchange between the two countries. In 2012, US exports to Bahrain reached around USD1.2 billion and Bahrain exports to US reached USD701 million. US imports in Bahrain includes machinery, aircrafts and vehicles whilst Bahrain exports to US include aluminium, clothing, and chemicals.

A number of US companies operate from Bahrain, including Olayan Kimberly-Clark, American Express, West Point Home, Ace American Insurance Company, Cisco, Mondelēz International and PineBridge Investments.

The EDB opened a representative office in the United States in 2013 dedicated to attracting foreign direct investment into Bahrain. The office arranges seminars and participates in conferences and networking sessions in order to develop relationships with various stakeholders, including business associations and chambers.

EDB Delegation Promotes Bahrain in India

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January 17, 2015

​Manama, Economic Development Board, 17th January 2015: An Economic Development Board (EDB) delegation has visited India to attend both the ‘Vibrant Gujarat’ Global Business Summit in Ahmedabad and the Confederation of Indian Industry (CII) annual summit in Jaipur, where the EDB was an event sponsor. EDB representatives met with Indian businesses looking to access Bahrain and the fast-growing GCC market during both events.

Ms. Vivian Jamal, Executive Director, Business Development, Bahrain Economic Development Board (EDB) said:

“India and Bahrain have a trading relationship that stretches back thousands of years. Our countries are highly connected economically and culturally, with a large number of Indian companies choosing Bahrain as a base to access the wider Gulf region. Bahrain provides an ideal gateway for Indian businesses seeking to access the region, as well as offering free trade access to the United States.

“In Bahrain Indian businesses will find the most open economy in the GCC, with a competitive tax regime, world-class regulation, one of the most educated workforces in the GCC and high connectivity and access to regional markets.”

In September 2014 the CII announced that it would open its first Middle East office in Bahrain. The CII is India’s leading business organisation, founded in 1895 with more than 7,200 members and an indirect membership of over 100,000 enterprises from around 242 national and regional industry bodies.

The announcement is a result of the various roadshows to India in the past years, with the recent visit in February last year witnessing the signing of 7 agreements between Bahraini companies and their Indian counterparts as well as 27 Memoranda of Understanding across a number of sectors, 12 of which were a direct result of EDB’s efforts. The delegation’s visit to India was part of a state visit led by His Majesty King Hamad bin Isa Al-Khalifa, which featured the coordinating of seminars and meetings by the Ministry of Industry and Commerce (MOIC) and the EDB.

India and Bahrain have a longstanding economic and trade relationship. A large number of Indian businesses have already established operations in Bahrain as a means of accessing the wider Gulf market. Leading Indian companies with offices or facilities in Bahrain include: Tata Consultancy Services, Tech Mahindra, First Flight Couriers Ltd, Kerala Institute of Medical Sciences (KIMS), JBF Industries, Chemco Plastics, Canara Bank, ICICI Bank, Bank of Baroda, and State Bank of India.

Seeking to strengthen and further build economic ties, Bahrain EDB established international offices in both New Delhi and Mumbai to provide assistance to Indian Businesses looking to invest in the Kingdom and to learn more about the regional investment opportunities. The EDB provides assistance to Indian investors interested in setting up in Bahrain throughout the entire process.

Chinese Businessmen Explore Bahrain’s Investment Opportunities

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January 13, 2015

Manama, Economic Development Board, 13 January 2015: A Chinese business delegation met with officials from the Economic Development Board (EDB) as part of a visit to the Kingdom. The delegation, including representatives from Chinese companies in the oil and gas sector, also held talks with their counterparts in the National Oil and Gas Authority (NOGA), Bapco as well as Tamkeen.

As part of the visit, the members were briefed on the Kingdom’s investment climate and competitive advantages through a presentation conducted by the EDB which introduced the benefits of setting up business in the Kingdom and the country’s diversified and free economy. The meeting also discussed the country’s positive international rankings, which are testament to the Kingdom’s policy in addressing economic changes with flexibility. It also showcased Bahrain uniqueness in providing national qualified workforce, and affordable and low cost living environment which contribute to the country being a gateway to the gulf market.
In October last year, a high-level business delegation from Bahrain conducted a 10 day visit to the People’s Republic of China, which aimed to strengthen economic and trade ties between the two countries. The visit included four of China’s main commercial centres; Beijing, Guangzhou, Shenzhen and Hong Kong and resulted in the signing of 13 agreements with various Chinese companies and trade entities. A delegation from NOGA have also visited China in December last year, where the members met with high level officials from the China National Energy Administration (NEA) as well as leading companies from the oil, gas and petrochemicals sector in the country.
The two nations earlier celebrated 25 years of bilateral relations last year, with the recent visit to China building on the successful visit by His Majesty King Hamad bin Isa Al-Khalifa to China in September 2013.
In 2011, total bilateral trade between Bahrain and China, excluding hydrocarbons, reached US$1.7billion. Machinery and mechanical equipment led Chinese imports to Bahrain in 2011 followed by minerals while hydrocarbons led Bahrain’s produce exported to China in the same year.
The EDB established an office in China in 2013 as part of its strategy to attract FDI into the Kingdom. The office is based at the Bahrain Embassy in Beijing, although it also operates in Hong Kong, and is headed by Mr. Yun Jiang.

Bahrain GDP Growth Reaches 5.1% In Third Quarter

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January 12, 2015

​Manama, Economic Development Board, 12 January 2015: The Economic Development Board (EDB) said that the Kingdom’s Q3 GDP growth reached 5.1% year-on-year (YoY), which continues the momentum from earlier in 2014 and reflects the positive impact of the initiation of a number of significant infrastructure projects. Overall growth for 2014 is forecasted to have been in excess of 4%.

The latest Bahrain Economic Quarterly (BEQ) also highlights the resilience of Bahrain’s non-oil growth. This was particularly apparent in the construction sector, which experienced acceleration from 3.6% annual growth in Q2 to 12.3% in Q3, making it the fastest growing sector of the economy. The hotels and restaurants sector also posted strong YoY growth of 7.4%. The hydrocarbons sector in Bahrain has continued to expand throughout the year, with a 4.7% YoY gain in Q3.

Looking forward, the BEQ posits that the performance of the Bahraini economy in the near term is likely to benefit from a number of positive drivers, which should translate into robust near-term growth figures. Above all, the build-up in infrastructure spending will continue. Spending from the Gulf Development Fund will be the main driver in this regard, but initiatives are underway also to activate a number of significant priority projects that will draw on a range of funding sources, including private investment.

Dr Jarmo Kotilaine, Chief Economist at the EDB, said:
“In spite of increased volatility in the global oil markets, economic growth in Bahrain has remained robust with clear indications that infrastructure spending is significantly boosting the momentum in the non-oil sector, and serving as an important platform for continued resilience.”

Globally, the structural growth drivers have not yet recovered to the point of strong, broad-based momentum, and the pattern of growth across various countries remains uneven. The BEQ shows that growth dynamics across the GCC region continue to be characterized by strong structural drivers in the non-oil economy alongside modest growth in the oil economy. The resilience of the non-oil economy is further supported by healthy financial sectors along with a firm commitment by GCC governments to support economic activity and priority projects.

The Bahrain Economic Quarterly can be viewed directly on: http://www.bahrainedb.com/en/EDBDocuments/BEQ-December-2014.pdf

Armacell Establishes New Plant In Bahrain

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January 11, 2015

Manama, Economic Development Board,11th January, 2015: Armacell, a world leader in flexible insulation foams for the equipment insulation market and leading provider of engineered foam, announced today that it will build a new manufacturing facility in Bahrain. The new plant, which will be located at the Bahrain International Investment Park (BIIP), will produce elastomeric rubber insulation for the US$3 billion[1] heating, ventilating, and air conditioning (HVAC) market in the GCC.

The announcement comes during an official German business delegation visit to Bahrain, led by HE Dr. Herbert Jakoby – Deputy Vice-Minister of Economic Affairs, Ministry of Economics and Trade, North-Rhine Westphalia, and included Dr. Karl Paetz Lauter, Managing Director of Armacell International Holding GmbH. This agreement came as direct result of the Economic Development Board’s (EDB) Germany office in Berlin and its efforts in attracting German investment into Bahrain. The new “Armacell” manufacturing facility in Bahrain is expected to create more than 100 jobs.During a meeting with the EDB, officials showcased the economic strengths of the Kingdom of Bahrain, and the business opportunities it offers to investors who can benefit from its open market, with a competitive tax regime, world-class regulation, and one of the most educated workforces in the GCC.

HE Kamal bin Ahmed, Minister of Transportation and Telecommunications and Acting Chief Executive of the Bahrain Economic Development Board (EDB) said: “Armacell joins a number of prominent German and other international businesses that are using Bahrain as a manufacturing hub to access the GCC region, one of the world’s great growth centres. In Bahrain, German businesses will find a sophisticated regulatory environment, excellent transport connections, low costs and competitive taxes, and a highly educated workforce.”

Dr. Karl Paetz Lauter, Managing Director of Armacell International Holding GmbH, said: “We are delighted to be establishing our first manufacturing plant in Bahrain. The fast growing Gulf market presents an excellent opportunity for manufacturing firms, and we think that not only does Bahrain provide the most efficient access to that growing market, but also provides the most open and favourable business environments in which to operate.”

Armacell, with its regional headquarters for EMEA in the German state of North Rhine-Westphalia, employs more than 2,200 people around the world and exports products to Europe, the Middle East, the Americas, Asia and India. The company joins a number of other Germany businesses that have already established operations in Bahrain as a means of accessing the wider GCC market. Leading German companies with offices or facilities in Bahrain include: DHL, BASF, SMS Meer, RMA and Siemens P.G.

Bahrain’s open economy, favourable business conditions and strong economic fundamentals have been endorsed by the Heritage Foundation’s 2014 Index of Economic Freedom, which saw the Kingdom ranked 13th in the world and first in the Middle East and North Africa.

Bahrain EDB highlights the Kingdom’s competitive advantages through international meetings

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January 01, 2015

The Bahrain Economic Development Board (EDB) continued its efforts in promoting the Kingdom and driving foreign direct investment through a series of international meetings in Q4, 2014. These meetings targeted a number of sectors in multiple markets, and highlighted the Kingdom’s competitive advantages and opportunities provided by its open economic environment. Also explored were various means of potential cooperation between local companies and foreign investors.

Business Delegation visits Japan and South Korea to meet with companies in the ICT sector:
The Bahrain Economic Development Board (EDB) organised a visit to Japan and South Korea where EDB officials hosted a number of meetings and seminars, shedding light on the Kingdom’s competitive advantage, and introducing leading businessmen and women to the opportunities available in the ICT sector in order to promote potential partnerships between local companies and companies from Japan and South Korea.
This visit follows a recent MOU signing by the EDB and the Japan Information Services Association (JISA) in September, which aimed at strengthening the cooperation between both sides in order to enhance bilateral relations and the exchange of technical information in the ICT industry in both countries. It also provided the necessary framework for developing joint projects and activities.
The seminar, which was attended by around 50 JISA members, presented the opportunities available to foreign investors in Bahrain, including the highly skilled national workforce, relatively low cost of living, and high human capital development, along with the Kingdom’s high ranking in many leading international indices, many of which leading international companies and investors have benefited from in order to access the fast growing GCC market.
While in Korea, the EDB, in collaboration with Korea Chamber of Commerce and Industry (KCCI), organised a seminar introducing regional opportunities to Korean ICT companies. Around 65 people from over 45 companies attended the event which included an analysis of case studies of successful Korean investments in Bahrain, including LG CNS who showcased their experience working on the Business License Information System (BLIS) project with the Bahrain eGovernment.
EDB officials brief French delegation on opportunities in the Kingdom:
Officials from the Bahrain Economic Development Board (EDB) met with a visiting French delegation from the city of Schiltigheim, who visited the Kingdom as part of a weeklong exploratory visit where they met with members of the public and private sector.
During a visit to the EDB, the French delegation learned about the investment opportunities that Bahrain offers, as well as the economic strengths of the Kingdom which include a free economy, modern infrastructure, highly skilled local workforce, and its proximity to the GCC market – factors that secured the Kingdom’s prominent ranking as a competitive economy, and which have led to the launch of a number of foreign companies in the Kingdom.
EDB Officials Brief Mauritius delegation on Bahrain’s Economy:
A business delegation from Mauritius met with officials from the Economic Development Board (EDB) to discuss business opportunities in the Kingdom. The delegation, led by Mr. Ashween K. Bunwaree, Ag. Senior Manager of Operations at Enterprise Mauritius, were introduced to the Kingdom’s economic fundamentals and competitive advantages, including the diversification of its economy and its economic freedom. A presentation by EDB officials also highlighted the various opportunities available to foreign investors and the key factors that makes it a preferred location to do business. The delegation represented various sectors including the food sector, textiles, furnishing and jewellery.
Delegation from Bilateral US – Arab Chamber of Commerce Visits Bahrain, discusses role of EDB in attracting foreign investment.
Officials from the Economic Development Board (EDB) met a delegation from the Bilateral US – Arab Chamber of Commerce, who visited the Kingdom as part of a GCC tour. The US Delegation was led by Chairman of the Board, David L. Phillips, and consisted of 19 businessmen and women representing the energy sector.
Along with presentations on the Kingdom’s key competitive advantages, EDB officials also explained the Board’s role in assisting companies looking to invest in the Kingdom, and its role in driving foreign direct investment into the country, through various targeted sectors, including ICT, logistics and transport sectors, as well as the financial services sector and its key sub-sectors.
The Chamber was created in 1997 and is comprised of a number of leading businessmen and women. It looks to build on strategic relations between key decision-makers in the US and the MENA region, in order to promote mutual economic growth. The Chamber consists of a number of representatives from private sector companies, thought-leaders, and academic institutions from various industrial sectors in the United States and the MENA region.
The Bahrain Economic Development Board hosts a delegation of journalists on the sidelines of the ARABAL conference:
The Economic Development Board (EDB) hosted a delegation of journalists from Germany on the sidelines of the Arab International Aluminum Conference (ARABAL). This comes as part of the EDB’s efforts to promote investment opportunities in the Kingdom and further strengthen bilateral ties between the two nations.
The journalists and editors represented a number of high profile German publications including Aluminum Praxis, International Aluminum Journal, & Metall- Journal of Metallurgy. The trip followed a historic visit to Germany lead by His Majesty King Hamad bin Isa Al Khalifa in 2008, and the visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, First Deputy Prime Minister and Chairman of the EDB to Germany in 2011, and further reiterates the strong bilateral relations between the two countries.
Also participating in the ARABAL conference during a panel discussion was Dr. Jarmo Kotilaine, Chief Economist at the EDB, who shed light on the importance of the Aluminum sector to the Kingdom, and the recent developments and growth in downstream manufacturing.
The visit included meetings and interviews with a number of public and private sector representatives, including meetings with EDB officials, Aluminum Bahrain (ALBA), the Bahrain International Investment Park (BIIP), Midal Cables, and Garmco. Additionally, the journalists were also given the opportunity to experience Bahraini culture though a visit to the Bahrain Fort.

Bahrain Economy Grew By 5.6 Per Cent in Q2 2014

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January 01, 2015

Bahrain experienced overall GDP growth of 5.6% in Q2 2014, when compared to the same period a year earlier, according to Q3 Bahrain Economic Quarterly issued by the Economic Development Board (EDB). The report, also revealed that Q2 2014 GDP growth reached 3.2% in comparison to the first quarter of 2014, with the total GDP growth of the year 2014 expected to reach about 3.7%.

In addition, the report highlighted the important contribution of the oil and non-oil sectors to the overall robust economic growth. The non-oil sector grew by 4.7% year-on-year during Q2 2014, while the oil sector registered 9.3% growth. When compared to the previous quarter, the non-oil sector registered a rise of 3.0% and the oil sector registered a rise of 4.1%.

The full report can be downloaded through the link: http://www.bahrainedb.com/en/EDBDocuments/BEQ-September-2014.pdf

EDB Leads a high level Bahraini delegation visit to China

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January 01, 2015

A high-level business delegation from Bahrain conducted a 10 day visit to the People’s Republic of China in October, which aimed to strengthen economic and trade ties between the two countries. The visit included four of China’s main commercial centres; Beijing, Guangzhou, Shenzhen and Hong Kong and resulted in the signing of 13 agreements with various Chinese companies and trade entities.Building on the successful visit by His Majesty King Hamad bin Isa Al-Khalifa to China in September 2013 and the two nations celebrating 25 years of bilateral relations earlier this year, the delegation’s visit was organised by the Economic Development Board (EDB) and led by HE Kamal bin Ahmed, Minister of Transportation and Telecommunications and Acting Chief Executive of the EDB.

During the visit, HE Kamal bin Ahmed held meetings with key Chinese officials in the public and private sector in the four cities. His Excellency met with HE Mr. Fang Aiqing, Vice Minister of Commerce; HE Mr. Yang Chuantang, Minister of Transportation; Mr. Zhu Tingfeng, Vice Secretarial General of the Shenzhen Government and Mr. Chen Biao, Vice Mayor of Shenzhen.
The Minister also held talks on mutual cooperation and opportunities with prominent private sector representatives including Guangdong Commerce Bureau, the China Council for the Promotion of International Trade (CCPIT), GFIC, Jinglong Decoration, China National Building Material Company (CNBMC), Commercial Aircraft Corporation of China, Beijing Capital Group, Huawei Technologies, World Services Group and Chueng Kong Infrastructure.
Additionally, a delegation from the Bahrain Chamber of Commerce and Industry (BCCI) also held meetings with various Chinese leading entities to strengthen trade and business relations between the two countries. Members of the BCCI, led by First Vice Chairman Mr. Othman Alrayes, met with various parties including CCPIT as well as taking part in B2B meetings through the visit.
Meetings were also held between officials from the EDB and representatives of main financial companies in Beijing to promote the financial sector in the Kingdom, which is considered a regional financial centre and host to the highest number of financial institutions and banks in the region.
During the roadshow the delegation hosted a series of seminars introducing potential Chinese investors to the economic and investment climate in Bahrain, and held talks with Chinese officials, business leaders and businesses looking to access the Gulf market. Economic investment forums were also organised by the EDB in three of the cities and showcased to potential investors the Kingdom’s favourable business environment.
It included panel discussions highlighting the overall Bahrain business environment and investment opportunities in Bahrain. Mr. Ahmed Al Bassam, Director of Licensing and Policy at the Central Bank of Bahrain (CBB), Mr. Khalid Al Zayani, Honorary Chairman, Al Zayani Investments, Mr. Sameer Nass, Chairman of Nass Group, Mr. Brad Sun Ke, Country Manager and Sales Director at Huawei Technologies Bahrain, and Ms. Vivian Jamal, Executive Director of Business Development at the EDB discussed the openness of  Bahrain’s economy during the first panel session, while during the second panel discussion Shaikh Abdullah bin Khalifa Al Khalifa, CEO, Osool Asset Management Company, Mr. Mohamed Al Binfalah, CEO, Bahrain Airport Company (BAC), Dr. Samer Al Jishi, Head of BFG International and Board Member, Mumtalakat Holding Company, and Mr. Osama Al Khaja, Head of Project Development, Kuwait Finance House spoke about the various investment opportunities available in Bahrain, in particular to Chinese investors. The panel discussions were moderated by Mr. Mazin Manna, CEO, CitiBank Bahrain.
The visit result in the signing of 12 Memoranda of Understandings (MoUs) and 1 Letter of Intent (LOI) in the four cities, which aimed to promote stronger economic and trade ties between the two countries . They were:
• The China Overseas Development Association (CODA), the organisers of the China Overseas Investment Fair in Beijing, signed a MoU with the EDB to promote investment projects across a number of sectors in both markets. The MoU follows a recent visit by CODA to Bahrain, where the EDB introduced the delegation to Bahrain’s investment environment, business registration procedures and industrial policy
• Chinamex, the Chinese government agency behind the ‘Dragon City Bahrain’ development, signed a MoU with the EDB to establish a regional trading centre in Bahrain. The agreement also includes provisions for Chinamex to support the EDB on business development trips to China and for the EDB to assist in the registrations of the Chinese companies to be housed at Dragon City
• China National Building Material Company (CNBM) and Chinamex signed a MoU to offer trade and financing services for the Chinese tenants at Dragon City Bahrain
• BCCI signed a MoU with China Association of International Trading to establish cooperation and ties aiming to promote mutually advantageous commercial and industrial interests and enhance the economic relations between Bahrain and China.
• The EDB and the Guangdong General Chamber of Commerce signed a cooperation agreement that will serve as a bridge to promote exchange and cooperation between the two peoples and governments.
• An MoU was signed between the Bahrain Chamber of Commerce and Industry (BCCI) and the Guangdong General Chamber of Commerce to promote strong and mutually advantageous commercial and industrial interests and enhance economic relations between Bahrain and China.
• The EDB signed a Letter of Intent (LOI) agreement with Jinglong Decorating to support the company with its plans to expand into Bahrain.
• Chinamex and Dongguan Electronic Products Association signed an MoU to jointly promote Dragon City Bahrain and attract Chinese tenants.
• Chinamex also signed an agreement with Wuhu Dragon City Tech and Info to work together to attract Chinese tenants to Bahrain Dragon City.
• An MOU signed between the Bahrain Chamber of Commerce and Industry (BCCI) and the Shenzhen branch of the China Council for the Promotion of International Trade (CCPIT), aiming to promote economic and trade ties between Bahrain and China.
• Chinamex and Senokski Petrochemical Corporation signed an MoU to jointly promote Bahrain Dragon City to prospective tenants.
• Chinamex also signed an MoU with Shenzhen Mobile Communication Association to promote joint attraction of Chinese tenants to Bahrain Dragon City.
• Hong Kong Bahrain Business Association (HKBBA) and the Guangdong Federation of Industry and Commerce (GFIC) signed an MoU to establish cooperation and friendship ties and promote mutually advantageous interests.
As part of promoting Bahrain and its business sector, the delegation met with the Chinese media in order to familiarise them with the Kingdom’s economic environment, the facilities on offer to Chinese investors and the investment opportunities, particularly in the field of infrastructure where there are a number of government projects aimed at developing and strengthening the Kingdom’s infrastructure.  The Chinese media expressed their interest in the Kingdom, the bilateral relations linking Bahrain to China and mutual trade between the two countries. The meeting was attended by HE Kamal Ahmed, Minister for Transportation and Telecommunications and Acting Chief Executive of the EDB; Mr. Khalid Al Zayani, Chairman of the BCCI and Mr. Samir Nass, Chairman of the Nass.
The delegation included: Bahrain EDB; Central Bank of Bahrain; Bahrain Airport Company; Mumtalakat, the Bahrain sovereign wealth fund; Tamkeen, the Bahrain labour fund; Bahrain Chamber of Commerce and Industry; Citi Bank; Al Amal Group; AJM Kooheji Group; amongst others.
Leading Chinese companies have established offices or facilities in Bahrain to access the wider Gulf market, which is currently worth $1.6trillion dollars and is expected to reach $2 trillion by 2020. Such companies with presence in the Kingdom include: Huawei, Bank of China, China Harbour Engineering Company Ltd, and CPIC.
In 2011, total bilateral trade between Bahrain and China, excluding hydrocarbons, reached US$1.7 billion. Machinery and mechanical equipment led Chinese imports to Bahrain in 2011 followed by minerals while hydrocarbons led Bahrain’s produce exported to China in the same year.
The EDB established an office in China in 2013 as part of its strategy to attract FDI into the Kingdom.  The office is based at the Bahrain Embassy in Beijing, although it also operates in Hong Kong, and is headed by Mr. Yun Jiang.
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