The Federation of Thai Industries (FTI) and the Overseas Business and Investment Association of Thailand (OBIA), two of Thailand’s most vital national development organisations, signed a Memorandum of Understanding with Promoseven Holdings E.C, one of the most reputable investment companies in Bahrain, to jointly promote and strengthen trade and investment relations between the two countries by establishing a ‘Thai Business Centre’ in Bahrain.
The signing ceremony was held at the Regency Intercontinental Hotel and was attended by Ali Saleh Al Saleh, Minister of Commerce, Mr. Widhya Bhoolsuwan, Ambassador of Thailand and other guests.
The MoU was signed between Mr. Akram Miknas, President and Chief Executive Officer of Promoseven Holdings E.C, Mr. Praphad Phodivorakhun, Chairman of FTI and Mr. Suvicharn Yangyuenwong, President for OBIA.
According to Ali Saleh Al Saleh, Bahrain's Minister of Commerce, “The Kingdoms of Bahrain and Thailand have always enjoyed close and cordial ties ever since the establishment of diplomatic relations some 27 years ago and it has never been an obstacle for our countries to further strengthen bilateral ties from a social and economic perspective.”
“I am extremely pleased to be witnessing the signing of such an important partnership which marks a significant milestone for the Kingdom of Bahrain and I would like to extend my appreciation to all concerned parties who cooperated closely to realize this venture,” continued Al Saleh.
Under this agreement, the three parties inclusive Promoseven Holdings E.C, The Federation of Thai Industries (FTI.) and the Overseas Business and Investment Association (OBIA), will work together to establish the ‘Thai Business Center’ in Manama, Bahrain.
The ‘Thai Business Center’ is to provide a channel for the Thai enterprises to expand their business activities within bahrain and will further enable the two countries to explore potential business opportunities in the local and regional business community.
According to Akram Miknas - President and CEO of Promoseven Holdings E.C. “I am proud to be sealing this partnership with all esteemed parties as I am certain that the fruits of this venture will be of great benefit to both Kingdoms. By strengthening our economic ties with Thailand, the Kingdom will undoubtedly witness a surge in its economic activity and on behalf of Promoseven Holdings E.C, we vouch to provide our full support to uphold this ambitious project.”
On behalf of Mr. Praphad Phodivorakhun, Chairman of FTI, “This agreement is a major step in paving the way for stronger socio-economic relations between the two countries and we are looking forward to being a part of this project which will undoubtedly help bring both societies together and further widen the economic horizons of both nations.” (menareport.com)
© 2004 Mena Report (www.menareport.com)
