Bahrain, Thailand to establish free trade zone
Bahrain and Thailand are seeking to enhance bilateral trade and investments through the establishment of a free trade zone between the countries and the opening of a Thai commercial center on the island of Bahrain, which will promote and market Thai products throughout the six member states of the Gulf Cooperation Council (GCC).
Initiatives to operate direct flights on the Bangkok-Manama route and to open an Islamic bank in Thailand with Bahraini investment were also discussed during a meeting held this week between the Bahraini Minister of Commerce and Industry Ali Al-Saleh and his Thai counterpart Adisai Photharamik.
Bahrain exports to Thailand mainly oil and aluminum, while importing Thai garments, air-conditioners, precious stones and jewelry. Bilateral trade totaled $93 million in 2001, up from $79 million the previous year, with Bahraini exports to Thailand accounting for about 60 percent of the total. — (menareport.com)
© 2002 Mena Report (www.menareport.com)