New Delhi, March 19 (BNA): The Bahraini delegation concluded its official visit to India from March 14 to 17, in New Delhi and Mumbai.
The visit was organized with the support of the Ministry of Industry and Commerce and the Bahrain Economic Development Board.
He highlighted key investment opportunities in Bahrain aimed at further strengthening bilateral trade relations.
The delegation focused on Bahrain’s financial services, manufacturing, information and communication technology, logistics and tourism sectors.
The delegation included more than 60 representatives from various public and private sector entities, namely the Ministry of Industry and Foreign Trade, Bahrain Economic Development Board, Bahrain Chamber of Commerce and Industry, Bahrain Tourism and Exhibitions Authority (BTEA), Export Bahrain, along with many leading companies and business associations. which is headquartered in Bahrain. .
The visit also witnessed the signing of a memorandum of understanding between Export Bahrain and the Indian Federation of Industry, in the presence of the Minister of Industry and Commerce, Abdullah bin Adel Fakhro, and the Ambassador of the Kingdom of Bahrain to India, Abdulrahman Mohammed Al-Qaoud, which clarified the following: A framework for increasing bilateral trade.
“This is an important visit that will pave the way for further strategic partnership between Bahrain and India, at the governmental, economic and commercial levels. With a focus on key economic sectors, it brings us one step closer towards achieving the goals set within the framework of Bahrain’s economic recovery plan.”
The Chief Executive of the Economic Development Board, Khalid Humaidan, said that India and Bahrain are strong trading partners with a long history of cooperation. Their relationship has gone from strength to strength since they entered diplomatic relations at the ambassadorial level in 1971.
“Today, non-oil trade continues to grow between the two countries, and these visits are essential as we continue to focus on driving investment in key sectors of the Kingdom’s economy,” Humaidan added.
The range of sessions and activities, which hosted senior Indian government officials, business representatives and potential investors, included the 2023 Partnership Summit accompanied by the Confederation of Indian Industry (CII) in New Delhi.
The delegation attended two major networking events, hosted by the Bahrain Economic Development Board and supported by the Bombay Chamber, and CII in Mumbai.
According to the latest statistics, trade between the two countries reached US$1.4 billion in 2022, and the value of foreign direct investment inbound from India to Bahrain was US$1.4 billion as of the third quarter of 2022, which is about 4% of the total FDI stock. In Bahrain, it is $33.9. one billion.