Manama, Abdulla bin Adel Fakhro, Minister of Industry and Commerce, participated in the Industry and Investment Forum between the Gulf Cooperation Council (GCC) and China.
The forum was organised by China’s National Development and Reform Commission, and attended by GCC Ministers of Commerce and Investment, and Chinese senior officials.
In his speech at the forum, the minister affirmed that bilateral relations between Bahrain and China are developing in various sectors, noting the mutual commitment to expand cooperation, especially in the commercial and industrial sectors.
Fakhro added that the forum highlights GCC countries’ determination to develop its relations with China, work with Chinese investors and promote China as an investment destination for the GCC region.
The minister highlighted the industries targeted by Bahrain within the Industrial Sector Strategy (2022-2026), which seeks to achieve goals to enhance industrial development with high added value.
Fakhro said that there are a number of adv
antages and incentives that the Bahrain government has offered during the past two years to activate FTAs with major economic blocs and make Bahrain an ideal gateway to access global markets.
He also highlighted the progress achieved by Bahrain in international economic indicators, such as the ease of conducting business, human capital and economic freedom.
The minister said that Bahrain’s government supports the industrial sector, by providing facilities for major industrial projects and supporting investment to accelerate the transformation of the industrial sector towards the Fourth Industrial Revolution.
The government’s efforts also include digitising manufacturing, promoting sustainable industrialisation, and raising the efficiency of supply chains by achieving GCC industrial integration.
The forum discussed ways to push industrial and investment cooperation to achieve industrial and investment prosperity on both sides.
It also highlighted the Xiamen Ministerial Initiative on strengthening industri
al and investment cooperation between China and the GCC, launched by Chinese President Xi Jinping during the first China-GCC Summit on December 2022.
Source: Bahrain News Agency
