H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, participated in the Industry and Investment Forum between the Gulf Cooperation Council (GCC) and the People's Republic of China, organized by China’s National Development and Reform Commission, in the presence of GCC Ministers of Commerce and Investment, and a number of Chinese senior officials.
In his speech during the launch of the forum, the Minister stressed that bilateral relations between Bahrain and China are witnessing continuous development in various sectors, noting the mutual commitment to expand cooperation, especially in the commercial and industrial sector.
Fakhro added that the forum bears witness to the determination of the GCC countries to work closely with Chinese investors and promote China as an investment destination for the GCC, within the framework of a system that offers attractive advantages for investment, especially in the industrial sector.
In this context, His Excellency referred to the industries targeted by the Kingdom of Bahrain within the Industrial Sector Strategy (2022-2026), which seeks to achieve a number of goals to advance industrial development with high added value.stating that there are a number of advantages, incentives and enablers that the Government of the Kingdom of Bahrain has launched during the past two years to activate FTAs with major economic blocs, and make Bahrain an ideal bridge to access global markets, as it has prominently shown progress in many global economic indicators such as the ease of conducting business, human capital and economic freedom.
In the same regard, His Excellency noted the Government of Bahrain’s support for the industrial sector, by providing facilities for the implementation of major industrial projects and supporting investment to accelerate the transformation of the industrial sector towards the Fourth Industrial Revolution, as well as digitize manufacturing, promote sustainable industrialization, and raise the efficiency of supply chains by achieving GCC industrial integration.
The forum discussed ways to push industrial and investment cooperation to achieve industrial and investment prosperity on both sides. As well as highlighting the Xiamen Ministerial Initiative on deepening industrial and investment cooperation between China and the GCC, launched by Chinese President Xi Jinping during the first China-GCC Summit in December 2022 on discussing the establishment of the China-GCC Forum for Industry and Investment, and to further enhance practical cooperation between China and the GCC.
