Joint Economic Committee meeting held

DT News Network

Manama

Minister of Industry and Commerce Zayed Al Zayani confirmed the government’s support for Bahrain Chamber of Commerce and Industry (BCCI) as a partner and major contributor in achieving economic trends and developing economic plans of the Kingdom of Bahrain.

The Minister noted BCCI’s role in consolidating business reputation and highlighting Bahrain as a suitable investment environment for all commercial, industrial and service projects.

Al Zayani was chairing the 22nd Joint Economic Committee between the Ministry of Industry and Commerce and BCCI, in the presence of BCCI Chairman Khalid Al-Moayyed and members from both sides here yesterday. The meeting reviewed the progress of the Export Development Centre project to be launched by the Industry and Commerce Ministry in collaboration with other stakeholders.

The progress of the Small and Medium Enterprises (SME) project was also discussed, in addition to Business Licensing Integrated System (BLIS), which was inaugurated by Industry and Commerce Minister on May 20, 2015.

The Minister also reviewed the Ministry’s efforts to extend the work level of Tariff Preference Level (TPL) for textiles in the framework of the free trade agreement between Bahrain and USA, which will expire on July 31, 2016. The Ministry sought with a number of stakeholders in Bahrain and the US to extend it for another 10 years. This subject is being coordinated with all factories operating in the Kingdom in this sector, which represent about 22 per cent of Bahrain’s export to the USA with value export of $200 million per year.

The meeting also reviewed points of the National Committee to follow up implementation of National Model for Mainstreaming Women’s Needs in the Government Work Plan and put motivational initiatives for the private sector to adopt supportive policies and methodologies of equal opportunities.

During the discussion, the Minister confirmed the importance of Periodic joint meetings between MOIC and BCCI in enhancing investment movement in the Kingdom of Bahrain.