MANAMA: Special Envoy to the President of Republic of Philippines Dr. Amable R. Aguiluz, said his Government was keen to sign a free trade agreement (FTA) with Bahrain to bolster the two-way flow of investments and trade between the two countries.
Dr. Amable was hosted by the Bahrain Chamber of Commerce and Industry (BCCI) during a Press conference held at the Capital Club marking his visit to the Kingdom of Bahrain in presence of members of Bahrain-Philippines Business Council and applauded the special trade and investment relations with the Kingdom of Bahrain.
The Ambassador of the Republic of the Philippines to Bahrain H.E. Alfonso Ver said that both countries were working on concluding a treaty on avoidance of double taxation in addition to the existing protection to the investments treaty.
“Though we don’t have an operational FTA with Bahrain but Philippines has preferential trade treaty with the Kingdom which reflects the special status of ties with Bahrain. We are keen on having FTA at the earliest which will bolster the trade and investment ties with the Kingdom of Bahrain,” Dr. Amable, said. “His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa’s keen interest has helped to take the bilateral ties to the new heights of the excellence.
Dr. Amable, also announced the upcoming Bahrain- Philippines Investment Forum 2017 which according to him will further help the private sectors of the both countries to explore the avenues of co-operation in all vital areas of common interest.
“The event, a joint Bahraini-Filipino Investment Forum, is to encourage bilateral trade, joint ventures, and investments between both friendly nations.”
The press conference was also addressed by the Bahraini side of the Bahrain-Philippines Joint Business Council and vice-treasurer of the Bahrain Chamber of Commerce and Industry (BCCI) Mohamed Sajid, in the presence of the Ambassador of the Republic of the Philippines to Bahrain H.E. Alfonso Ver, the Assistant-Undersecretary for Information and Follow-up at the Prime Minister’s Court Dr. Ebrahim Al Dossari, and from BCCI Treasurer Isa Al Refaei, Board Member Ahlam Janahi and acting CEO Abdulaziz Al Refaei.
Sajid Sheikh highlighted the importunate of the upcoming Forum in Bahrain, which according him will help in establishing two-way communication to bridge between local and Filipino business owners and set a stage for more activity in trade, investments and joint-ventures areas. Sajid said that the current business between both friendly nations was not reflective of the existing potentials, and stressed on the fact that abundant business opportunities await exploitation.
Sajid reinstated BCCI’s keenness in invigorating the national economy and reinforcing the contribution of the private sector by offering it a spectrum of business and investment opportunities and encouraging its expansion.