The prime ministers of both countries will formalise the proposed co-operation by signing a memorandum of understanding (MoU) in Manama on Saturday marking the first visit of any Japanese Prime Minister in the past 43 years to Bahrain.
Announcing the details of the Japanese Prime Minister Shinzo Abe’s visit to the Kingdom of Bahrain, the Japanese Ambassador Shigeki Sumi told media that overall four MoUs will be signed by both the Prime Ministers at Gudaibia Palace on the sidelines of the formal talks between Japanese Prime Minister Shinzo Abe and Prime Minister of Bahrain, His Royal Highness Prince Khalifa bin Salman Al Khalifa.
Earlier this year Bahrain’s Sovereign Fund, Mumtalakat Holding Company, had signed a Memorandum of Understanding (MoU) with the Japanese SBI Pharmaceuticals Co. Ltd. (SBI) on the sidelines of the visit to Japan of HRH Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, First Deputy Prime Minister and Chairman of the Economic Development Board (EDB).
The MoU formalized the understanding between both parties to explore various areas of cooperation in the pharmaceutical industry, including research, development and production of pharmaceutical products.
SBI is a leading innovator in the development and manufacturing of products containing 5-ALA, a key component of ‘hemoglobin ‘and ‘chlorophyll’, which composes the non-protein part of human plasma, which in turn is responsible for transporting oxygen around the body. Applications of the 5-ALA include food supplements, cosmetics, cancer detection, diagnoses and screening, prevention and treatment of metabolic disorders, and agricultural utilization.
“The 5-ALA project will benefit the Kingdom of Bahrain and the GCC by fulfilling unmet preventive and therapeutic needs of various diseases, providing highly technical job opportunities to the young generation, building up the research platform to attract international pharmaceutical and medical industry, and reducing the medical expenditure of the government. Allow me to stress that this is a great contribution to helping maintain a high quality of life for all the people in the GCC. We are greatly pleased and honoured to work with Mumtalakat and other governmental, academic and business partners in Bahrain for this innovative project,” Yoshitaka Kitao, CEO, SBI quoted saying after the signing of MoU between Mumtalakat and SBI Pharma.