Bahrain’s business delegation concludes visit to Italy

EDB CEO Shaikh Mohammed bin Isa Al Khalifa during a Press briefing in Italy
Bahrain’s business delegation wrapped up its visit to the Republic of Italy in the first leg of European countries’ mission as part of the Bahrain Economic Development Board (EDB), Bahrain Chamber of Commerce and Industry (BCCI) initiative. The Bahraini side met with number of eminent personalities from the private sector which also to include a number of EU countries.

The delegation, during the visit, shed light on investment opportunities in the Kingdom of Bahrain during working session hosted by the Italian Industrial Confederation and major Italian international manufacturing, construction, energy, transportation, mercantile firms and Italian service sector.

Deputy Chairman of the Italian Industrial Confederation, Caesar Trivsani, praised in his speech the significance of Bahrain as a financial hub for regional and international banking and as the gateway to the Middle East and the Indian sub-continent in view of Bahrain’s advantageous location which stimulate Italian businesspeople, and also praised the solid Bahraini-Italian trade exchange and pointed out that he hopes to see more industrial, business and investment cooperation in the light of Bahrain’s Economic Vision 2030 which reflects the Kingdom of Bahrain’s ambitious development plans for the various vital sectors.

EDB’s CEO Shaikh Mohammed bin Isa Al Khalifa expressed delight at the cooperation with the Italian Industrial Confederation and major firms and emphasized the need for more cooperation and consolidation of the relations focusing on the industrial sector in addition to Italy’s highly-acclaimed international trade exchange volume.

Shaikh Mohammed bin Isa Al Khalifa added that the companies coped with the international financial crunch creatively, flexibly and dynamically and expanded their marketing horizons which he sought to achieve with Italy with a view to the GCC market. EDB’s CEO pointed out that some analysts pinpointed a promising economic growth area abbreviate as BRIC and However, he said, I can assure you that there is a promising region in view of real growth opportunities and it is China, India and the GCC region.

EDB’s CEO praised the Kingdom of Bahrain’s progressive reformation policy which has been initiated by His Majesty King Hamad bin Isa Al Khalifa Monarch of the Kingdom of Bahrain a decade ago which made the Kingdom at the forefront of the countries which adopted reformation and development policy in the various fields and particularly the political field, citing the Kingdom of Bahrain’s encouragement and incentives to industrial companies and invited them to visits Bahrain and the region in order to find out about the real situation in terms of growth and development and the promising opportunities open for everybody.

EDB’s CEO emphasized the Kingdom of Bahrain’s commitment to proceeding forwards with its reformation progressive march in the path of development, pointing out that the Kingdom of Bahrain has adopted serious steps to achieve development goals.

The Italian ambassador in the Kingdom of Bahrain Enrico Padola emphasized the significance of such meetings and added that ever since he began his diplomatic assignment as ambassador of his country in the Kingdom of Bahrain.

He said that the imbalance not only in the trade aspects but also in the Italian Industrial and trade sector’s lack of knowledge about the Kingdom of Bahrain although Bahrainis knew Italy far better and he hoped to increase knowledge of Italian businesspeople about Bahrain and to increase contacts with the Bahraini private sector and expressed the Italian embassy’s readiness to cooperate with EDB, BCCI to help the Italian industrial and trade sector expand in Bahrain and GCC markets. Italian businesspeople narrated their successful historic experience in investing and operating businesses in the GCC countries especially in Bahrain and expressed hopes to enter into joint ventures with their Bahraini counterparts.

The EDB’s CEO Shaikh Mohammed bin Isa Al Khalifa, BCCI’s chairman Dr. Essam A Fakhro and Tri-com’s chairman Tariq Wafa met with the Italian Industrial and Commercial Conversation’s chairman Fabiano Bizino and explored areas to increase mutual cooperation in industrial projects and exchanging of expertise and building of capabilities.

It is worth mentioning that Italy main exports to Bahrain are spare parts, chemical products, clothes, jewellery and home appliances meanwhile Bahrain’s main exports to Italy are steel, textiles and oil products.

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