Bahrain eyes Taiwan investment opportunities
Manama, October 1, 2012
Bahrain will send a high-level business delegation to Taiwan as part of its efforts to look for investment opportunities in the Far East.
Plans are underway to schedule the visit during prominent trade exhibitions and fairs in Taiwan, said Bahrain Chamber of Commerce and Industry acting chief executive Othman Sharif Al Rayes.
"This will be one of the most important delegations to go out from Bahrain and we're co-ordinating with the trade mission here and our counterparts in Taiwan to fix the dates," he said.
Slowing growth in Western economies and continuing trouble in the euro zone have prompted Bahrain to look to countries in the Far East.
"Bahrain has investments in the US and Europe, but I think the Far East also has a lot of potential and lot of initiatives can come from there," he told the Gulf Daily News, our sisiter publication, on the sidelines of a trade exhibition organised by a Taiwanese trade mission, at the Gulf Hotel.
Exports from Taiwan to the Middle East have remained steady and Bahrain seeks to boost trade in high quality products from the island nation. "The quality and quantity of products from Taiwan are among the best," he said.
"Japanese and Korean companies are now assembling products in Taiwan at better and competitive price."
The acting chief executive said reaching out to Taiwan was part of efforts to position Bahrain as a gateway to the GCC and the larger Middle East.
Taiwan's economy, which ranks 19th globally, has risen to prominence on the back of innovation in information technology and industrial goods.
Taiwanese trade mission representative Paul Hsu urged more Bahraini companies to look eastward and lobby for investment.
Heavily invested in neighbouring China, Taiwan is now increasingly looking at other regional countries to diversify investments and minimise risk.
"Taiwan is looking for new investment destinations and this is the right time for Bahraini companies to send delegations," said Hsu. "We hope Bahrain will pay more attention to Taiwan as Asia is rising," he said.
The trade mission has hosted four exhibitions during the last one-and-a-half years, showcasing environment technology, food and trade. Bahrain, however, has yet to send a similar trade delegation to Taiwan.
"The Taiwanese economy is in a good shape and our relationship with China has improved," Hsu said. "We've signed agreements with China on an economic co-operation framework," he added.
On the back of improving trade relations with the Asian economic powerhouse, many international firms are setting up base in Taiwan to target the large and lucrative Chinese market.-TradeArabia News Service
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