H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, stressed the importance of continuing to strengthen joint coordination between GCC countries to achieve common goals and aspirations, especially in exchanging experiences, training, research and development. Highlighting the role of the private sector as a major driver in the development process, by creating qualitative job opportunities and increasing investments.
This came during the consultative meeting between the Ministers of Commerce of the GCC countries, and the heads of federations and chambers, within the framework of the meetings of the ministerial committees of the GCC countries held in Salalah, Oman.
The meeting discussed topics on the agenda of the regular consultative meeting, in addition to reviewing the views of the ministers in this regard.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, praised the strength of coordination and interconnection between GCC countries, which contributed to supporting trade integration efforts and enhancing their economic position, noting the rapidly growing economic relations between the GCC countries and the United Kingdom.
His Excellency headed the delegation of the Kingdom of Bahrain participating in the sixty-fifth meeting of the Trade Cooperation Committee held in the Sultanate of Oman, which gathered members of the Trade Cooperation Committee, with the participation of HE Mr. Nigel Huddleston, Minister of State for Trade and Business in the United Kingdom, and in the presence of GCC Secretary General Jasem Mohamed Albudaiwi.
The meeting highlighted a number of topics of common interest, and ways to develop and increase the volume of investments between the GCC and the UK to achieve common goals and visions.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed that achieving comprehensive industrial development in the GCC countries is reflected in enhancing production efficiency and raising the quality of the industrial sector's outputs, and thus developing economic opportunities and increasing the sector's contribution to the GDP, and enhancing investment opportunities.
This came during His Excellency's participation in the opening of the first Gulf Industrial Exhibition in the Sultanate of Oman, in the presence of Their Excellencies the Ministers of Industry of the Gulf Cooperation Council countries, on the sidelines of the 51st meeting of the Industrial Cooperation Committee.
The Minister praised the exhibition's positive impact on participating Bahraini industrial companies, noting the exhibition's contribution to diversifying the joint work of the GCC's industrial sector.
For his part, Dr. Saleh bin Saeed, Undersecretary of the Ministry of Commerce and Industry of the Sultanate of Oman, delivered a speech where he noted the importance of the exhibition, and the role of Gulf inventors and factories in developing the GCC industrial sector.
The ceremony included an honoring of Gulf inventors and factories, including a number of Bahraini factories participating in the exhibition (Jassim Al-Zayani & Sons Factory, Crown Industries, Silent Power Renewable Energy Factory, Alba and KKC Industry).
HE Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed the Kingdom of Bahrain's commitment to enhancing cooperation with the GCC in various aspects to achieve mutual goals and aspirations, pointing to the pivotal role of the industrial sector in enhancing economic diversification and supporting local production.
This came as His Excellency headed the delegation of the Kingdom of Bahrain in the sixty-fifth meeting of the Trade Cooperation Committee, hosted by the Sultanate of Oman, with the participation of the GCC Ministers of Commerce, and GCC Secretary General Jasem Mohamed Albudaiwi, and the GCC Ministers of Industry. In the presence of the Undersecretary of the Ministry of Industry and Commerce, Ms. Eman Ahmed Al-Doseri, and the accompanying delegation.
The meeting discussed a number of topics on the agenda, which included a working paper on forming a permanent committee for investment, and a discussion of a number of GCC commercial laws, in addition to reviewing the memorandum of the General Secretariat on the work of committees within the Trade Cooperation Committee. As well as the latest developments on Free Trade Agreements with countries and international blocs.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, stressed the importance of strengthening cooperation partnership with the standardization bodies in the GCC countries, as he Headed the Kingdom of Bahrain's delegation in the fifth GCC meeting of the Ministerial Committee for Standardization Affairs.
The meeting was held this morning at the Millennium Resort in Salalah, Oman, with the participation of the GCC Ministers of Commerce, and GCC Secretary General Jasem Mohamed Albudaiwi, and the GCC Ministers of Industry. In the presence of the Undersecretary of the Ministry of Industry and Commerce, Ms. Eman Ahmed Al-Doseri, and the accompanying delegation.
The Minister pointed out that the gains and advantages that come through integration in various areas of standardization would contribute to supporting the Gulf economy by emphasizing the importance of imported and exported products that meet technical requirements and smart conformity assessment procedures, which preserve human health and safety and protect the environment, and contribute to facilitating intra-trade procedures between the GCC countries, and streamlining the passage of commercial products while following international laws and regulations.
His Excellency Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, affirmed the keenness of the Kingdom of Bahrain to continue with the cooperation and exchange of experiences and knowledge with GCC countries, in a way that enhances and supports Gulf economy, especially in the industrial sector, while adopting advanced technology, innovation and techniques of the fourth industrial revolution.
This came as His Excellency headed the Bahraini delegation in the 51st meeting of the GCC Industrial Cooperation Committee, with the participation of GCC Secretary General Jasem Mohamed Albudaiwi, and the GCC Ministers of Industry. In the presence of the Undersecretary of the Ministry of Industry and Commerce, Ms. Eman Ahmed Al-Doseri, and the accompanying delegation, in Salalah, Oman.
The meeting discussed a number of topics of common interest, in an aim to contribute to the advancement of the industrial sector in the GCC, which serves the aim of the Kingdom of Bahrain to enhance and develop this sector within the industrial sector strategy (2022-2026).
The executive regulations for the Unified Industrial Organization System (Law) were also approved during the meeting, as well as the amended controls on exempting industry inputs from customs duties (taxes), in addition to approving the Secretariat's proposal to establish and develop an e-platform for Gulf industrial projects, and defining standards for lists of goods subject to collective protection and preparing an implementation plan for the list of goods for collective protection, in addition to reviewing a report inventorying the experiences of member countries in supporting the industrial sector to adopt the Fourth Industrial Revolution.
The Kingdom of Bahrain has made notable progress in developing the industrial sector through a comprehensive strategy within the Government's framework to develop promising sectors as part of the economic recovery plan, which resulted in the launch of a number of initiatives, most notably the iFactories Initiative and the program for Industrial added value (Takamul).
On the sidelines of the meetings of the Industrial and Commercial Cooperation Committees of the GCC in Salalah, H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, met with H.E. Mr. Nigel Huddleston, Minister of State for Trade and Business in the United Kingdom, in the presence of a number of senior officials from both sides.
During the meeting, the Minister affirmed the UK's position as a major investment partner, pointing out the steady growth of economic and trade relations, which reflects the depth the historical relations that tie both countries, in order to achieve common and ambitious visions.
The meeting also discussed a number of issues of common interest and ways to develop and increase the volume of upcoming bilateral investments, where the Minister affirmed Bahrain's keenness to enhance aspects of cooperation with the UK in all fields, especially in trade and commerce. Noting the role the private sector in both countries can play to contribute to achieving common goals.
His Excellency also praised the positive outcomes since the announcement of the free trade agreement between the GCC and the UK in 2021, which marked a strategic step towards enhancing relations between the two parties.
H.E. Mr. Abdulla bin Adel Fakhro Minister of Industry and Commerce received H.E. Mr. Shaheen Abdullayev, Ambassador of the Republic of Azerbaijan to the Kingdom of Bahrain residing in Riyadh, where they discussed joint bilateral relations and ways to strengthen and develop cooperation between the two countries.
In welcoming His Excellency the Ambassador, the Minister praised the progress of joint relations, reviewing the most important advantages and possibilities of the investment environment in Bahrain and the facilities provided by the government to investors from all over the world, making it a preferred destination for many global projects and investments, in addition to the continuous updates of laws and legislation protecting investments.