Crown Prince heads Bahrain team to India
Manama, May 28, 2012
A high-level business delegation led by His Royal Highness Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain and Chairman of Economic Development Board (EDB) will be in India this week as part of an official two-city state visit.
The visit aims to strengthen bilateral, political and trade relations between the Kingdom and India, said a statement from EDB.
The delegation will include representatives of the Bahrain Economic Development Board, Bahrain Chamber of Commerce and Industry and Mumtalakat (Bahrain's investment arm holding company for the Kingdom's non-oil and gas strategic assets).
The members will visit Mumbai and Delhi on May 30 and 31 and will engage in high-level talks with Indian officials and private sector leaders.
On the upcoming visit, Kamal bin Ahmed, Minister of Transportation and Acting Chief Executive of the EDB, said: “Bahrain and India share strong business relations: Bahrain currently hosts more than 120 Indian firms, and Indian nationals are the largest expatriate community in the Kingdom.'
'As Indian firms continue to expand internationally, Bahrain’s low cost of doing business, highly skilled local workforce and access to the GCC market mean that it can provide an excellent location from which these firms can access the fast-growing Gulf market, which is worth over a trillion dollars,' he noted.
The visit will provide an opportunity to boost links between Bahrain and India, who have always maintained a friendly & stable relationship. As part of the roadshow, the EDB has organised a series of one-to-one meetings with members of the private sector and business community.
The high level talks will also include discussions on the proposed Free Trade Agreement with the GCC & India.
Dr Esam Abdullah Fakhro, the chairman of the BCCI, said: 'The Indian economy is the second fastest growing economy in the world, which makes it an attractive market for us to showcase our commitment to economic diversification.'
'Our visit to India will enable us to interact with Indian businesses and be able to present a compelling proposition of holding Bahrain as a strategic business location from which to access the Gulf region, where growth is to double to $2 trillion by 2020, as forecast by the Economist Intelligence Unit,' he remarked.
According to the International Monetary Fund, the total trade between India and Bahrain in 2011 was $1.7 billion.
Diplomatic relations have been established between the Kingdom and India at Ambassadorial level since 1971. Relations are also characterised by continuous and cordial political and cultural exchanges. There are over 200,000 Indian residents in Bahrain.
Besides a number of Indian firms have their regional HQs and branches registered in Bahrain including Tata Consultancy Services, Tech Mahindra, JBF Industries, Canara Bank, ICICI, Bank of Boroda and State Bank of India.-TradeArabia News Service