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Classified in: Business
Subject: LIC

Bahrain signs eight landmark agreements to deepen economic ties with Shenzhen


SHENZHEN, China, Nov. 16, 2018 /PRNewswire/ -- This week, a senior delegation from the Kingdom of Bahrain led by the Capital Governor HE Sheikh Hisham Bin Abdulrahman Al Khalifa and organised by the Bahrain Economic Development Board (EDB) visited Shenzhen to discuss opportunities to strengthen cooperation. They met with Mr. Ai Xuefeng, Vice Mayor of Shenzhen, and a number of local government officials and business leaders at the Bahrain ? Shenzhen Business Forum and the China High-Tech Fair.

Bahrain Economic Development Board (EDB) and China Council for the Promotion of International Trade Shenzhen Branch (CCPITSZ) signing MOU

Next year marks 30 years since China and Bahrain established diplomatic relations. In advance of the pearl anniversary, Bahrain is set to further deepen economic ties with China. Today, Bahrain signed eight landmark agreements with Shenzhen in the areas of technology and transportation to include:

Since Manama ? the capital city of Bahrain ? and Shenzhen became sister cities in 2016, the two cities have forged a number of business links. In June 2018, Bahrain EDB inaugurated its representative office for Southern China in Shenzhen, aiming to facilitate more investments by Chinese companies in Bahrain. "Our partnership with Shenzhen was built on common heritage as open and innovative business hubs with shared economic interests. We are very pleased to see our ties with this vibrant city continue to strengthen and believe these agreements will help us move towards a new era of collaboration," said HE Sheikh Hisham Bin Abdulrahman Al Khalifa.

HE Khalid Al Rumaihi, Chief Executive of Bahrain EDB, said, "Shenzhen is the first city with which we established a sister city relationship in China. We see our partnership with Shenzhen as a model for forging wider and deeper business ties between our two countries. There are numerous opportunities for Chinese companies in the region, especially as the GCC markets continue to transform their economies. Bahrain's location as the Gateway to the Gulf, and given the fact that it is one of the key countries along the new Belt and Road route, along with our open and liberal lifestyle, competitive business landscape, and world class regulation makes the Kingdom the ideal location from which Chinese companies can access this $1.5 trillion GCC market."

"Bahrain is known as the Pearl of Gulf and is an important port on the ancient Maritime Silk Road. Bahrain is also one of the most open and dynamic country with top-ranking business environment in the Middle East," said Mr. Ai Xuefeng, Vice Mayor of Shenzhen. "Bahrain and Shenzhen are already partnering in a number of areas. We sincerely hope to further work together with Bahrain to achieve greater prosperity between the two countries, promoting cooperation in key areas including finance, ICT, innovation and startup, and tourism."

Bahrain ? Shenzhen Business Forum was attended by 250 people. Shenzhen is the first stop of the Bahraini delegation's 9-day tour of China's principal commercial centres. The delegation will visit Hangzhou, Shijiazhuang, and Beijing as it continues to explore deeper economic ties with China ahead of the 30-year anniversary.

About Bahrain Economic Development Board (EDB)

The Bahrain Economic Development Board (EDB) is a dynamic public 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.

SOURCE Bahrain Economic Development Board (EDB)


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