The Prime Minister Shinzo Abe, who will arrive on two-day official visit in Manama on Saturday 24th August, will become the first Japanese Premier to visit the Kingdom of Bahrain in the past 43 years.
The Prime Minister Abe will be received by His Royal Highness Prince Khalifa bin Salman Al Khalifa; the Prime Minister upon arrival which will be followed by official talks at Gudaibia Palace as well as both premiers will also witness the signing of the four MoUs between the two sides.
His Majesty King Hamad bin Isa Al Khalifa will also host a luncheon for the Japanese Premier Shinzo Abe and his accompanying delegation at Safriya Palace on Sunday 25th of August.
“Prime Minister Abe will arrive in Bahrain on his first leg of the visit to the region will be accompanied by 10 CEOs of top Japanese Companies,” according to the Japanese Ambassador Shigeki Sumi.
Japanese Prime Minister Abe will also visit the State of Kuwait, Qatar and Djibouti, a country where Japanese naval forces are based which is part of the global anti-piracy task force led by the US Fifth Fleet, headquartered in Manama, Bahrain.
The four MoUs will cover health, anti-money laundering, co-operation in agriculture sector with focus on hydroponic techniques and pharmaceutical sectors.
Japanese Prime Minister Abe, who is travelling with the logo of Energy to Synergy, will discuss and explore the possibilities of the enhancing the base of co-operation between the two countries including the energy sector. Japan had received the first shipment of oil from Bahrain in 1934 paving the way for the long-lasting trading and commercial ties between the two countries.
“Both countries have a history of rich and fruitful ties and the upcoming visit will help to reinforce the existing ties and exploring the further avenues of co-operation between the two sides,” Ambassador Shigeki Sumi, said.
According to official figures, Japan had emerged as the 2nd largest trading partner of the Kingdom of Bahrain with trade volume in excess of $3.5 billion yearly. Japan mainly imports aluminium from Bahrain and Bahrain is the major recipient of automotive shipments including cars and spare parts in addition to heavy machinery, tools and techniques.
His Majesty King Hamad bin Isa Al Khalifa visit to Japan in 2012 featured a new milestone for the mutual beneficial prospects for both countries in several areas including industry and trade, energy, investments, services and technological cooperation.
The automotive components sector, especially production of aluminum auto components as well as production of aerospace components are areas where vast untapped potential exists in Bahrain. Japanese auto majors already have a dominant presence in the region and the auto component “aftermarket” in GCC is estimated worth several billion dollars.
Japanese auto majors can capitalise on this opportunity to collaborate with businessmen in Bahrain to set up genuine auto spares manufacturing facilities for fast moving parts. The bilateral initiatives focusing on innovation and collaborative ventures in high technology areas shall be highly welcome. On the other hand, there are good opportunities for the ICT businesses in Bahrain to tap into Japanese market. Japan’s Centre for Excellence programmes are good models for Bahraini industry and academia to emulate.
Bahrain is a mature and well-established business hub with the largest financial institutions in the Gulf. Bahrain provides a free, open, globally competitive and transparent business environment focusing on sustainability, skills and good governance. Bahrain’s industrial strategy aims at strengthening the private sector by enhancing its competitiveness and facilitating it to expand the range of products and services in the domestic and international markets.
The Kingdom of Bahrain has been ranked first in term of economic freedom in the Middle East and North Africa, and ranked seventh globally according to annual index (2012) published by “Fraser Institute”. The Kingdom of Bahrain was also ranked first in terms of economic freedom in the Middle East and North Africa and ranked twelfth globally according to “Heritage Foundation”. Forbes magazine also classified Bahrain as among the most welcoming nations for expats.
More recently, the ‘Global Free Zones of the Future’ top 50 rankings for 2012-13 released by FDI Magazine includes four zones in Bahrain – Bahrain International Investment Park (ranked 15th), Khalifa Bin Salman Port (ranked 16th), Bahrain International Airport (ranked 19th) and Bahrain Logistics Zone (ranked 30th).