Opportunities galore in Bahrain says Shaikh
A TOP level delegation from the Kingdom of Bahrain is beginning a two day visit to the North West to woo investment and build trade links.
The mission, led by Shaikh Mohammed bin Essa Al-Khalifa, chief executive of the Bahrain Economic Development Board, will showcase opportunities, and hold trade talks with businesses in Manchester before visiting Liverpool and the Daresbury Science and Innovation Centre on Friday.
Shaikh Mohammed told TheBusinessDesk.com that there is already strong trade links – worth £529m last year – and this figure should double to more than £1bn over the next decade.
He said: “We are here with a message to raise the profile of the opportunity for North West businesses, across a wide range of sectors, in Bahrain.
“The Bahrain economy is growing – we’re not just about oil – and we are a top 20 country to start a business in. Now is a time when friends matter most and we hope to create long-term partnerships and help British companies grow and create jobs.
“The opportunity is there and we need the skills and expertise that exists here.”
Alongside his economic message Shaikh Mohammed said he wanted to clarify the political situation in Bahrain, where he said there was a commitment to democratic reform: “What we are all working towards is building a more democratic country.”
UK Trade and Investment is working with the EDB on the visit. The delegation from Bahrain includes representatives from manufacturing, retail and media companies, who are taking part in a series of presentations about doing business in the Gulf at the Bridgewater Hall.
Shaikh Mohammed added: “We are delighted to be holding this event in partnership with the Greater Manchester Chamber of Commerce and the UKTI and believe there is significant potential to strengthen ties with the North West, whether that is sourcing products and services or helping companies set-up bases in the Kingdom.
“Bahrain is helping a growing number of international companies to realise the opportunities of the trillion dollar Gulf market, and we look forward to welcoming an even stronger presence from Manchester and the North West.”
Bahrain’s economy grew throughout the global economic downturn and is forecast to achieve approximately 2% growth this year. The greatest contributor to GDP is the financial services sector, followed by manufacturing, which contribute 24% and 16% respectively. The oil and gas sector also contributes positively, albeit at 13% of GDP.
Clive Memmott, chief executive of Greater Manchester Chamber of Commerce, commented: “This event has been a great opportunity for firms in the North West to learn more about Bahrain and the opportunities that exist to do business with the country.
“Manchester and the North West of England is one of the few places the EDB is visiting in the UK and the fact its delegation will be accompanied by 12 firms shows its intention to kick-start new partnerships and relationships. The North West has a thriving financial and professional services sector, and other industries and blue-chip companies are also located here.”
Among the companies joining the delegation is Bahrain Fibre Glass International which won the contract to supply and install replacement wall cladding in the Mersey Tunnel. Shaikh Mohammed will make a trip to the tunnel to see the progress of the project later today.
