Ten-day roadshow to China concludes, 15 deals signed

Manama 

Further strengthening economic and trade ties with China, a high level Bahraini business delegation led by the Economic Development Board (EDB) has concluded a successful 10-day roadshow to China after signing 15 business deals, which includes plans to establish operations in the Kingdom by three Chinese companies. 

The latest visit builds on the historic visit to China by His Majesty King Hamad bin Isa Al Khalifa in September 2013. In 2014, an EDB business delegation visited China and 13 agreements were signed between leading government and private sector organisations from both countries to promote closer economic ties.

Commenting on the roadshow, Khalid Al Rumaihi, Chief Executive of the EDB, said, “This has been an extremely successful visit, as demonstrated by the announcement that three Chinese businesses will look to establish operations in the Kingdom and the large number of MoUs signed between influential public and private sector Bahraini organisations and their Chinese counterparts.”

“The EDB looks forward to assisting many more Chinese companies to set up in Bahrain and take advantage of the benefits on offer here,” he added.  

The delegation during the visit held high-level meetings with Chinese government officials including Fujian Governor Su Shulin, Shenzhen Governor Xu Qin and Vice Mayor of Xiamen Madam Ni Chao. They also met high-ranking officials from leading Chinese companies including Air China, China Investment Cooperation, Guangzhou Automobile Cooperation (GAC), China Equity and China Machinery Engineering Cooperation (CMEC), amongst others. Rumaihi and Dr Anwar Al Abdulla, Ambassador of the Kingdom of Bahrain to China also gave speeched at the Bahrain-China Business and Trade Forum. 

The forum featured a panel discussion on the Kingdom’s business environment, moderated by Vivian Jamal, Executive Director of Marketing and Communications at the EDB. Panellists included: Hamid Al Zayani, Founder and Partner of Al Zayani Investments; Osama Al Khaja, Head of Project Development at Kuwait Finance House (Bahrain); Mohamed Al Kooheji, Director of AJM Kooheji; and Chai Xin, Public Relations manager at Huawei Bahrain.

The delegation also took part in the China International Fair for Investment & Trade (CIFIT), at which Bahrain was the first country in the Middle East to be guest country of honour. The Bahrain Pavilion was organised by the EDB in cooperation with strategic partners Tamkeen, UNIDO, Bahrain Airport Company, ALBA, Batelco, National Bank of Bahrain (NBB), Kuwait Finance House, and Al Salam Bank.

Six major deals signed in Beijing

Six major deals were signed by the Bahraini delegates with Chinese companies in Beijing, which includes an agreement to establish a regional headquarters in Middle East by Baoshang Bank with EDB’s support.

Several other deals were also signed on the occasion which includes a cooperation agreement with China Arab International Exchange Centre, an agreement to promote investment in infrastructure construction, financial services, manufacturing and energy, amongst others with China Arabia Economic Cultural Exchange Association (CAECEA), a development and construction agreement with CMEC and two MoUs with Chinamex. 

The deal with CMEC was signed by Projects Construction Company WLL. As per the deal, CMEC will provide project finance while Projects Construction Company will represent the joint venture locally and act as the main contractor for construction projects in Bahrain.  Among the two deal signed by Chinamex, the first was with Henan Lotus Flower Company, one of the largest food ingredients manufacturers in China in preparation for the opening of the Bahrain Dragon City later this year.  The second agreement was signed with xbniao.com, to provide logistics services for Bahrain Dragon City.

Logistic support for Dragon City

Bahrain, as part of the 10-day visit, had also participated in the China-Arab States Expo, the biennial gathering between China and Arab countries, in Yinchuan, the capital of the Ningxia autonomous region. 

Major deals were signed on the occasion. This includes three MoUs by Chinamex in addition to the agreements signed during their visit to Beijing, to provide logistic services to the Bahrain Dragon City, which will open later this year. 

The agreements signed with Fujian Quanzhou Dragon City Import & Export Trading Company, Beijing Dragon Commerce Company, and China Dragon Mart Information Technology Company, will provide Dragon City with import and export services, and the building of an online sales network and the provision of e-commerce services for the tenants.

Further, EDB signed two letters of intent, one with Jinlou Water and another with World Wide Logistics to establish operations in Bahrain to access the fast-growing Gulf market. 

Other deals signed include two MoUs with China International Investment Promotion Centre- Xiamen and the China Council for the Promotion of International Trade (CCPIT- China), deal to enhance bilateral cooperation by BCCI with China Council for the Promotion of International Trade – Fujian (CCPIT-Fujian) and a deal to promote women empowerment and entrepreneurship in private sector by Bahrain Businesswomen’s Society and the Xiamen Association of Women Entrepreneurs.