During his official visit to the republic of China, H.E. Mr. Abdulla bin Adel Fakhro Minister of Industry and Commerce visited Huawei Technologies headquarters in Shenzhen City, as part of a series of visits conducted to pioneering Chinese establishments.
The Minister toured Huawei's headquarters and was briefed on the latest technologies and innovative solutions offered by the company. Several meetings were also held with senior company officials to discuss future cooperation opportunities in multiple fields, including developing technology infrastructure and promoting digital technology.
Huawei Technologies Co. Ltd. is one of the giant global names in the field of technology and communications. It has a wide network of customers and partners in over 170 countries. Huawei works with 45 telecommunications operators out of the 50 largest telecommunications operators in the world and provides services to more than 1,500 companies around the world, serving a third of the world's population.
Dr. Khaled Al-Alawi, Assistant Undersecretary for Industrial Development, participated in the opening ceremony of the 11th edition of the World SMEs Day Summit, organized by the Bahraini SMEs Society in cooperation with the United International SMEs Organizations (UNISMO), in the presence of the President of the Bahraini SMEs Association, Dr. Abdulhassan Al-Dairi. And a number of participants.
Dr. Al-Alawi pointed out that the Kingdom's initiative to host this global summit confirms the Kingdom's efforts to support and create a suitable environment for the SMEs sector, out of belief in the role of this vital sector in supporting sustainable economic development.
This conference is held annually and organized by the Bahraini SMEs Society in cooperation with the United International SMEs Organizations. The Bahraini SMEs Society has been organizing this conference since 2010, constantly teaming with strategic partners to attract distinguished speakers to enrich the discussion with lively and successful experiences that benefit participants.
On the sidelines of the official visit to The Republic of China, H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, participated in the Opening Ceremony of the China-GCC Cooperation Forum, in the presence of their Excellencies GCC ministers of commerce and H.E. Mr. Wang Wentao, Minister of Commerce of the People's Republic of China.
His Excellency Mr. Fakhro delivered a speech on the occasion of the Bahraini delegation's participation in the work of the forum, which in turn widens horizons of bilateral economic cooperation.
The Forum rounded several axes. The first sub- forum discussed green development and digital economy, while the second discussed industrial investment and financial cooperation, with the aim of uncovering the consensus of the China-GCC summit for the year 2022 and exploring new directions and opportunities for cooperation in related fields.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, participated in the economic and trade ministerial meeting between China and GCC in Guangzhou, with the participation of the GCC Ministers of Trade and His Excellency Mr. Wang Wentao, Minister of Commerce of the People's Republic of China, in the presence of GCC Secretary General Jasem Mohamed Albudaiwi.
The conference focused on several key topics, most importantly preserving the multilateral trading system, and strengthening the FTA negotiations between China and the GCC. As well as enhancing investment cooperation, developing the industrial chain and supply chain, and enhancing cooperation in infrastructure connectivity and modern energy.
The conference also discussed other topics of common interest.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, hailed the development of relations between Bahrain and China, affirming the importance of consolidating aspects of bilateral cooperation to serve the interests of both countries and their people.
This came during a meeting between the H.E. the Minister and his Chinese counterpart H.E. Mr. Wang Wentao, where they discussed a number of topics related to enhancing bilateral trade and expanding investment opportunities, within the framework of His Excellency's official visit to the People's Republic of China.
The Minister praised Bahraini-Chinese cooperation in the commercial sector, noting the role of mutual visits and meetings between in advancing relations, and highlighting available opportunities of commercial and industrial cooperation.
For his part, Chinese Minister Wang Wentao, affirmed the keenness to develop aspects of cooperation, especially in the commercial sector, with the Kingdom of Bahrain, and to build on the mutual understanding and coordination between the two countries to achieve common aspirations.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce participated in the 8th session of the World Investment Forum of the United Nations Conference on Trade and Development (UNCTAD), hosted by the United Arab Emirates in Abu Dhabi, between 17 – 20 October, under the title “Investing in Sustainable Development".
The Minister stressed that the forum is an essential pillar in making important economic decisions and developing strategies and solutions to the challenges facing global investment and development and represents an opportunity to enhance the collective work of economic decision makers to stimulate investment in sustainable development in light of the current economic conditions.
His Excellency also pointed to the Ministry's role in encouraging the concepts of circular carbon economy, environmental and social governance, and pushing investment in digital transformation and adopting the industrial revolution, which achieves sustainability in production lines by increasing their efficiency, quality and productivity. In addition to the green industries targeted within the industrial sector strategy (2022-2026).
The conference will shed light on a number of important topics and axes, including: procedures for promoting clean energy investments in developing countries to transition to low-carbon energy, discussing the ability of sustainable finance to build a low-carbon future and increasing investment in sustainable energy, as the sustainable finance market constitutes a major source of capital for investment in sectors essential for sustainable development, such as health and food. The forum will also explore opportunities to enhance investment in health care in addition to a number of events that will be held within the forum to develop and formulate policies and strategies to address the investment challenges facing the world.
The forum represents a global dialogue platform aimed at stimulating investment in sustainable development and shaping the international investment environment in line with the UN's sustainable development goals. The 8th session of the Forum 2023 aims to address the main challenges resulting from multiple global crises at the present time, including the need to invest in food security, energy, health, supply chain resilience, sustainable infrastructure, and growth in productive capacity in developing countries.
H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, received Mr. Chen Daixing, Secretary-General of the Shenzhen Federation, as part of his visit to the Kingdom of Bahrain at the invitation of the United Nations Industrial Development Organization - Investment and Technology Promotion Office (UNIDO-ITPO). To discuss bilateral cooperation in the field of artificial intelligence and other topics of common interest.
The Minister of Industry and Commerce highlighted the importance of promoting entrepreneurship among young people and encouraging innovation and investment in AI, pointing to the role of youth in economic development and innovation, and the necessity of providing support to enable them to develop their entrepreneurial projects, praising the role of the Shenzhen Federation, which is one of the most prominent global centers in the field of technology innovation.
Moreover, Mr. Chen Daixing, Secretary-General of the Shenzhen Federation, praised the support provided by the Kingdom of Bahrain in providing qualitative opportunities for technical exchange and cooperation in the field of research and development.
For his part Dr. Hashim Hussain, Head of the Investment and Technology Promotion Office of UNIDO, noted the role of the Kingdom of Bahrain in being the gateway to transforming existing industrial and commercial systems towards digitization and AI.
The Joint Economic Committee between the Ministry of Industry and Commerce and the Bahrain Chamber of Commerce and Industry held its 41st meeting at the Ministry's building. Where the Ministry of Industry and Commerce was chaired by HE Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce, and the BCCI was chaired by Chairman Mr. Sameer Nass, in the presence of a number of senior officials and members of the Joint Economic Committee from both sides.
The Minister affirmed that the meetings of the Joint Economic Committee come as part of the Ministry's approach in cooperation, coordination and consultation with the Chamber on all common issues.
H.E. Fakhro also expressed the Ministry's support for all initiatives supporting the developing the economic sector in Bahrain, stressing the importance of coordination with the Chamber as the main representative of the private sector in the Kingdom, to achieve aspirations and enhance Bahrain's commercial and investment environment.
After that, the topics on the meeting's agenda were discussed, in addition to reviewing and following up topics of the previous Committee meeting.