The Japanese Ambassador in Bahrain Shigeki Sumi told a Press conference that during the upcoming visit of His Royal Highness Prince Salman bin Hamad, the Crown Prince and First Deputy Premier next week to Japan both governments will conclude a MoU paving the way for oil and gas exploration in Bahrain by the Japanese companies.
“Usually the seven sisters in the global arena get the major share of the businesses in oil and gas sectors but Japan with much sophisticated technology can help Bahrain. I hope the MoU will be proved a great success for both sides,” Ambassador said.
Ambassador also touched upon the other two MoU between the two governments and said those would cover the educational sector where Japan has been working very closely over the past many years.
His Royal Highness the Crown Prince and the Deputy First Premier Prince Salman bin Hamad along with a well represented private sector delegation will embark on a second official visit to Japan from 19th to 22nd March. During the visit His Royal Highness will meet with HM the Emperor, the Crown Prince, Prime Minister and many top ranking officials of Japan.
The visit will provide a rare opportunity to review, evaluate and further strengthen the ties in trade, investment, culture, education and defense areas. Japan and Bahrain has a very close co-operation in defense since 1991 but given the close relations between the two Royal families and the executive authorities these ties will reach to new heights of excellence.
Keeping in the view the huge existing potential of private sector to private sector especially in the small and medium enterprises (SMEs) His Royal Highness Prince Salman will host a dinner reception in honour of private sector of Japan.
“Japan boasts the biggest names in the production, manufacturing and electronics, still 90% business comes from the SME sector showing the strength and potential of this segment in the development of the both economies,” he said.
The Ambassador said apart from the three public sector agreements, around nine agreements will be sealed by the private sectors of the two sides.
The relations between Japan and the Kingdom of Bahrain dates back to the year 1934, in which the first Bahraini oil shipment to Japan occurred after the discovery of oil in Bahrain in 1932. On 4 August, 1971, recognition of the State of Bahrain by the Government of Japan and on 2 May, 1972, establishment of diplomatic relations between Japan and Bahrain.
Many projects have been accomplished by Japanese companies including petrochemical, aluminium, gas and telecommunication projects as well as the designing of the Arab Gulf University building (now University of Bahrain) in Sakhir.
Other recent projects include pellet and steel plants in Hidd, Hidd IWPP Project. Number of Japanese companies in Bahrain is 20.
The Bahrain-Japan Business Friendship Society was established in August 2008 by leading Bahraini businessmen and Japanese companies in Bahrain in order to encourage cooperative relationships between the two countries in the economic and cultural fields. The society holds cultural events such as Japanese musical concerts and the Japanese Film festival in cooperation with the Embassy.
Apart from the initiatives being taken by Japanese private companies and institutes such as JCCP (Japan Cooperation Center, Petroleum) and JCCME (Japan Cooperation Center for the Middle East) accept trainees from Bahrain and regularly hold seminars in this region. For example, JCCME co-organized Kaizen Seminar in Bahrain in May 2008 and November 2010 with Tamkeen and the Embassy of Japan in Bahrain.
Japan is 5th largest trading partner of Bahrain which accounts approximately 8% of Bahrain’s world trade. Volume of trade between Japan and Bahrain reached $1 billion in the year 2006.
Japan’s imports from Bahrain have been mainly petroleum products and aluminium, and Bahrain’s major imports from Japan have been machinery and equipment, and transport equipment.