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EDB in deal to boost Japanese trade ties

MANAMA, September 2, 2014

The Economic Development Board of Bahrain (EDB) has signed a memorandum of co-operation with Japan Information Technology Services Industry Association (JISA) at the EDB headquarters in Seef.

The signing was part of activities of a visiting Japanese business delegation in the kingdom which will conclude tomorrow (September 3), said a report in the Gulf Daily News (GDN), our sister publication.

The memorandum aims to strengthen co-operation between both sides to enhance bilateral relations and exchange of technical information in the information and communications technology (ICT) industry in the two countries.

It will also provide the necessary framework for the development and follow-up on projects and joint activities between both sides.

The signing of the memorandum comes after His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Premier and EDB chairman and the accompanying business delegation's visit to Japan in March last year.

The visit resulted in signing a series of memorandum of understandings (MoU) that aimed to promote economic co-operation and encourage joint investments between the two countries.

Many MoUs and agreements were signed between ministries, institutions and private sector companies during that visit, to enhance co-operation in the education and training, oil and gas, financial services, healthcare, pharmaceutical, cosmetics and others sectors.

“We consider this as another step towards enhancing the economic ties and bilateral relations between the two countries,” Transportation Minister and EDB acting chief executive Kamal Ahmed said.

“Japan is one of our most important trading and investment partners globally.

“We realise how important Bahrain is to Japanese businesses across various sectors, as it is the ideal destination located in the heart of the $1.6 trillion GCC market.

“The kingdom is a gateway to doing business in the GCC for Japanese and international companies.

“It has one of the most efficient and skilled local workforce in the region that are able to speak both Arabic and English, in addition to the low cost of doing business it offers to all investors,” he added.

“This is an exciting opportunity, and we are looking forward to working closely with the EDB on future collaborative projects, which will promote business between Japan and Bahrain,” JISA vice-chairman Toshio Shimada said.

“The ICT sector is one that is constantly growing globally, and the GCC market, which is expected to grow even further to reach $2 trillion by 2020, is an attractive area whereby investors can take advantage of the ICT sector, and the growing demands of the population.

“Bahrain in particular, offers interested investors many advantages, and with the support of the EDB, companies will be able to set up in an open and competitive market.”

The Japanese delegation also organised a seminar on the ICT sector in Japan at the Bahrain Chamber of Commerce and Industry.

The seminar, which was attended by representatives from the Bahraini and Japanese business leaders, was held to give an overview on the ICT sector, as well as to encourage Japanese companies to invest in the kingdom.

It also gave an insight on the most prominent technological solutions, products and services for Japanese companies in this sector.

The Japanese delegation will also be visiting Batelco, the eGovernment Authority and Bahrain Development Bank, as part of their business tour in Bahrain. - TradeArabia News Service




Tags: EDB | Japan | Trade | Ties |

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