Manila: The Kingdom of Bahrain and Philippines are working to establish a joint business council aiming to enhance the existing scope of business between the two countries.
This came as the Bahrain Asian Traders Committee (BATC) of the Bahrain Chamber of Commerce and Industry (BCCI) headed by Vice-treasurer Mr. Mohamed Sajid had participated in Manila Fame held in the capital city of the Philippines between 20th and 22nd October 2016.
On the sidelines of the event, head and members of BATC alongside Ambassador of the Republic of the Philippines to Bahrain H.E. Alfonso Ver, and Vice-chair of the SMEs committee of the Chamber Mr. Ahmed Alsaloom convened a meeting with the Deputy CEO of the Center for International Trade Expositions and Missions (CITEM) Ms. Lourdes D. Mediram. During the meeting, both sides stressed on the importance of holding joint business events and intensifying the exchange of business delegations in a bid to familiarize business owners of the nature and features of the markets on the one hand and encourage them to invest and forge partnerships on the other hand. Both sides also deliberated about the business and cooperation opportunities, particularly with regard to empowering Small and Medium Enterprises.
While hailing the diversified market of the Philippines and the quality of the products and services, Mr. Sajid gave a brief on the business environment of Bahrain. He stressed on the investor friendly laws and procedures key among which allowing 100% foreign ownership in 98 business activities, the advanced infrastructure, and the high-quality services.
He also underlined the importance of the Bahraini market, describing it as a gateway to the neighboring markets of the GCC countries and the region.
The BATC expressed its keenness in establishing a joint business council between Bahrain and the Philippines, with the aim of consolidating business relations and stimulating business between both sides.