MANAMA: The first Arab Asia Business Partnership which was inaugurated by Under-Secretary for trade affairs at Ministry of Commerce and Industry Nader Khalil Almoayyed concluded with a great success.
The three-day meeting was held at the Bahrain International Exhibition and Conference Centre.
Jawad Yusuf Abdulwahab Al Hawaj, 2nd deputy chairman of the Bahrain Chamber of Commerce and Industry, in his inaugural address, said that Bahrain enjoys pride of place among the various indices as a key destination for doing business. The Kingdom of Bahrain has been at the centre of trade between Asian, Arabian and the European countries. “Foreign direct investments into Bahrain from Asia in 2013 were to the tune of $429.1 million and outflow to Asia was $327.1 million.”
The no-tax regime, 100 per cent foreign ownership and the strategic positioning of the kingdom were mentioned as key positives for attracting trade and investments into the country.
The Ambassador of India to Bahrain, Mohan Kumar, in his keynote address, stressed on the need for the first such meet. The close and friendly relations between India and Bahrain, he said, resulted in a Déjà vu, resulting in a taken for granted relationship. This, he said, resulted in trade and investments not reaching the potential it should have met.
“The relations established between the Bahrain Chamber of Commerce and Industry and the Confederation of Indian Industry, during the India visits of His Majesty the King Hamad bin Isa Al Khalifa and the His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, First Deputy Prime Minister, First Deputy Prime Minister and Chairman of the Economic Development Board, have helped lift the relations to a higher level,” he added.
“The potential for growth on either side is truly immense, he added. Pointing to the advantages on the Indian side, he said about a young India, the change of policy from red tape to red carpet, an inwardly looking nation with little need for export. With theses, he said, the nation was protected from the vagaries of exposure and dependence on exports.”