Bahrain delegation attends Japan seminars
Manama, October 14, 2012
A delegation led by the Central Bank of Bahrain (CBB) and the Economic Development Board (EDB) has arrived in Japan for a series of high level seminars with Japanese business leaders keen to explore investment opportunities in the Kingdom.
The delegation includes the governor of the Central Bank of Bahrain, Rasheed Al Maraj; Shaikh Salman bin Isa Al Khalifa, the executive director of banking operations at the Central Bank of Bahrain; and Boyd Winton, director of financial services at the Bahrain Economic Development Board.
The roadshow, which continues until October 16, follows the annual meetings of the International Monetary Fund (IMF) and the World Bank Group, attended by the delegation as well as high ranking Bahrain officials including Shaikh Ahmed bin Mohammed Al Khalifa, Minister of Finance; and Yousif Humood, assistant under secretary of Economic Affairs, Ministry of Finance.
The business seminars will include a number of high level meetings with Japanese officials and financial leaders, and include visits to leading businesses in Tokyo, a statement from an official said.
The visit provides an opportunity to further strengthen economic and trade relations between Bahrain and Japan, who already share a number of commercial agreements and whose strong diplomatic relations are highlighted this year as Bahrain and Japan celebrate 40 years of diplomatic relations.
Bahrain is home to a number of leading Japanese companies including Nomura Securities, Toyota Training Centre, Yokogawa and Daiwa Securities, Bank of Tokyo-Mitsubishi and Yamato Kogyo.
Kamal bin Ahmed, Minister of Transportation and acting CEO of the Bahrain Economic Development Board, said: “Finance is the strongest and most developed sector of Bahrain’s economy, home to more than 400 financial institutions.”
“That these businesses, including those from Japan, are choosing Bahrain as their base for accessing the fast growing Gulf economies and the wider Middle East is testament to the quality of the Central Bank of Bahrain’s regulation, the strength of the local Bahraini workforce, and the Kingdom’s strategic location and transport links to access the trillion-dollar Gulf market,” he said.
Japan is currently Bahrain’s fifth largest trading partner. Trade between Bahrain and Japan surged by almost 30 per cent in 2010, and reached $1.25 billion compared with $961.5 million in 2009. – TradeArabia News Service
More Finance & Capital Market Stories
- NBAD approves 40pc cash dividends
- NBAD sees 8-10pc loan growth
- Al Basel Group launches investment arm
- Union Insurance posts $18m profit
- Oman warns banks on conflicts of interest
- Japan to lend Tunisia $480m
- 400 to join anti-laundering seminar in Riyadh
- Lebanese insurer to head Prague Club
- UAE's first REIT plans $135m IPO
- Bahrain banking industry outlook 'positive'
- New India Assurance opens Bahrain branch
- Qatar sets up mixed business incubator
- Kuwait budget spending up 8pc in April-Jan
- Thomson Reuters to host Mena IFR awards
- ADIB offers smartphone industry investment
- Gulf Finance House to start $3bn Tunisia project
- KFH completes ICT project upgrade
- Egypt urban annual inflation slows to 9.8pc
- BIBF signs deal with Palestinian institute
- Bahrain’s GDP set to expand 12pc
- KFH-Bahrain rebrands priority banking
- Bank Nizwa wins top Islamic bank award
- Qatar labour costs may jump: IMF
- Kuwait Q3 trade surplus hits $23bn
- Dubai trade growth up 7.6pc to $362bn
- Deloitte appoints new managing director
- Al Ramz tops UAE trading in Feb
- IFC in $150m loan deal with Bank Audi
- SME funding focus for Abu Dhabi forum
- Insurance House posts second year of profit