Bahrain to boost business ties with Italy
Manama : The Bahrain Economic Development Board (EDB) announced it will participate in the first Italian Arab Business Forum in Milan, and in the Confindustria Assafrica & Mediterraneo forum in Rome, Italy from 11-13th October 2017.
“This visit is a perfect opportunity to further our relationship with Italy by promoting the current economic opportunities in Bahrain, as well as showcasing the ideal investment environment open to all industrial, commercial and tourism business activities and projects,” said Zayed Bin Rashid Alzayani, Minister of Industry, Commerce and Tourism.
The Bahraini delegation will showcase the investment opportunities and competitive advantages that Bahrain offers in the financial services, manufacturing, and tourism sectors. Delegation include Zayed Bin Rashid Alzayani, Khalid Al Rumaihi (Chief Executive of the EDB), Dr Mohammed Abdulghafar (Ambassador of Bahrain to France and Italy) and senior representatives from the private and public sector.
“By participating in these forums we are able to promote the competitive advantages offered by Bahrain to international investors, in turn attracting further investments and creating diversified employment,” said the EDB’s Chief Executive, Khalid Al Rumaihi.
Bahrain and Italy have been trading partners since 1973, with agreements between the two countries dating back to 2000. The countries have also signed two economic agreements relating to the protection of investments and equal treatment of anchorage and port taxes. In 2006, the Bahrain Chamber of Commerce and Industry signed an MOU with the Union of Italian Chambers.
“Bahrain offers investors a wide range of opportunities. For Italian investors in manufacturing, for example, our strategic location in the middle of the Gulf, with easy access to the GCC market worth US$1.5 trillion, is especially attractive,” added Al Rumaihi.
Bahrain is home to more than 182 Italian commercial enterprises across various sectors, and non-oil trade between the two countries increased from US$361 million to US$367 million between 2015 and 2016.
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