Nearly 200 delegates took part in the first sessions of the two-day UNCTAD workshop and conference yesterday (January 11) in Manama, held under the patronage of the Central Bank of Bahrain (CBB).

"This conference is part of a series held around the world but it is important that it has come to Bahrain which is still regarded as a centre of excellence and a focal point for financial industry chiefs," said the moderator for the first session, Venture Capital Bank investment placement manager Hisham Abu Alfateh.

"We have had a very good turnout from Bahrain but have also attracted delegates from further afield in the region and some first-class speakers," he added.

CBB Governor Rasheed Al Maraj said it was a key event for Bahrain's financial industry as it was important to shed light on what went wrong with the global economy and evaluate the process.

"The financial sector in Bahrain still accounts for some 25 per cent of the country's gross domestic product and remains an extremely important part of the country's economy. That is why we invited these experts from UNCTAD to come here and give their views."

Established in 1964, UNCTAD promotes the development-friendly integration of developing countries into the world economy.

It has progressively evolved into an authoritative knowledge-based institution whose work aims to help shape current policy debates and thinking on development, with a particular focus on ensuring that domestic policies and international action are mutually supportive in bringing about sustainable development. – TradeArabia News Service