SPEECH BY DR. ESAM ABDULLA FAKHRO

CHAIRMAN OF THE BOARD OF DIRECTORS OF BAHRAIN CHAMBER OF COMMERCE AND INDUSTRY

AT THE ASIAN TRADERS RECEPTION 25 April 2007

On behalf of the members of the Board of Directors of Bahrain Chamber of Commerce and Industry and the trade and industry community in the Kingdom of Bahrain, and in my name, I feel highly privileged and honoured to welcome our Asian partners. I would like to seize this auspicious occasion to laud and instrumental role being played by Asian traders in furthering and bolstering the economic relations existing between the Kingdom of Bahrain on the one hand and Asian countries in general and the friendly Republic of India in particular.

The Republic of India is considered our principal trade partner. It has been maintaining, all along, an advanced level of relative economic importance in the Kingdom of Bahrain's dealings with the outside world. India ranks fourth in terms of the value of exports and re-exports to the Kingdom of Bahrain, while it ranks eighth among countries from which the Kingdom imports merchandise. The growth and expansion of these relations have many indications and implications, which reflect the commendable joint efforts in which, among others, the Indian traders in the Kingdom of Bahrain have contributed enormously and significantly. These contributions are manifested in the serious, sincere and fruitful co-operation with the private sector in Bahrian which we are certain will be maintained and will gain more momentum and depth to further develop and expand the economic relations with the two friendly countries.

We believe that it is highly important for Indian traders to double their efforts in order to increase and boost the volume of trade exchanges, encourage mutual investments and enhance joint economic action between the Kingdom of Bahrain and the Republic of India. In this framework, I call for the need to continue to steer ahead with the implementation of the agreement signed between the Bahrain Chamber of Commerce and Industry and the Federation of Indian Chambers of Commerce and Industry which was signed on 12 April 1994 to set up a Bahraini-Indian Business Council. This council would certainly play a vitally important role in developing the economic and trade relations between the two countries and explore all possible means to overcome the difficulties which hinder the furtherance of these relationship and sending them to new heights and at the same time find the appropriate solutions to them.

Allow me to seize the opportunity of this fraternal meeting with you to once gain call on our friends the Indian and Asian businessmen and representatives of companies and firms in the private sector to benefit from the congenial climate and business-friendly atmosphere in the Kingdom of Bahrain. This atmosphere is afforded in the form of flexible legislation, forward-looking laws and versatile investment opportunities to set up joint investment projects with the companies and firms in the private sector in Bahrian, particularly conventional and advanced high-technological industries which Indian has become well known for. There are also projects in the fields of education, training, health and human resources development, in which India has high potential and a competitive edge. There are also countless knowledge-based investment opportunities in the areas of software, Information Technology and Telecommunications (ITC) and high-end services, such as computer sourcing and software design and marketing, and such other opportunities which are highly promising as joint investment projects.

Before I conclude, I would like to highly commend the role which the Indian community and work force have been playing in the Kingdom of Bahrian in all economic and social fields, whether in developing the Kingdom's infrastructural and constructional base, or in education, training and the enhancement and upgrading the technical and practical skills of citizens. We assure you that the Indian community and workforce is receiving utmost attention and care by our leadership.
Thank you for your good listening, and I wish the two friendly peoples of India and Bahrian more prosperity and success.

Wassalamu Alaikum Warahmatullah Wabarakatuh,