Bahrain seeking to bolster India trade
India and Bahrain have a trading relationship that stretches back thousands of years
Key ministerial level talks on Bahrain-India bilateral trade concluded yesterday during a visit by a Bahraini delegation to Bengaluru, the capital of the southern Indian state of Karnataka.
Transportation Minister and Economic Development Board acting chief executive Kamal Ahmed met India's Commerce and Industry Minister Anand Sharma on the sidelines of the Confederation of Indian Industry's Partnership Summit.
The two ministers discussed strengthening bilateral relations between India and Bahrain, in particular the growing trade opportunities for Indian businesses who can take advantage of the fast growing GCC market, currently worth $1.5 trillion.
Also attending the meeting was Bahrain Chamber of Commerce and Industry (BCCI) chairman Dr Essam Fakhro along with several key members of the Bahrain delegation including BCCI treasurer and board member Othman Al Rayes, board member Khalid Al Amin and Dadabhai Group chairman Mohammed Dadabhai.
The three-day event was held at the Taj West End Hotel in Bengaluru.
"India and Bahrain have a trading relationship that stretches back thousands of years," Mr Ahmed said.
"Our countries are highly connected economically, with a large number of Indian companies choosing Bahrain as a base to access the wider Gulf region, and culturally, with around 300,000 Indians living and working in the kingdom," he said.
The discussion demonstrated commitment from both countries to continue to build on and strengthen the economic partnership, he said.
"By working together we can help both our economies to flourish and to create jobs for Indians and Bahrainis," he said.
India has long been one of Bahrain's most important trading partners.
In 2011 trade between the two countries reached $1.7 billion according to data from the International Monetary Fund.
- Will terror attacks damper Arabs' appetite for European holidays?
- So cool it's hot: Saudi Arabia's $3.2B HVACR market driven by construction boom
- US, EU protectionist policies may be a blessing in disguise for GCC suppliers
- Dubai to Doha: How far can you stretch your dirham?
- OPEC's poor history of compliance will make production cut deal a challenge