Dr. Fakhro chaired the 1st meeting to follow up the results of the visit made by His Majesty the King

August 28, 2014 9:22 am

Industry and Commerce Minister Dr. Hassan Fakhro chaired the first meeting to follow up the results of the visit made by His Majesty King Hamad bin Isa Al Khalifa to the Republic of India, which resulted in many understandings in various areas of cooperation and joint action between the Kingdom of Bahrain and the Republic of India.

The meeting was attended by Indian Ambassador Dr. Mohan Kumar along with ministries and government bodies, EDB, Central Bank of Bahrain, a number of BCCI Board members Bahrain Businessmen Society, Bahrain businesswomen Society and businesswomen and Indian investors.

During the meeting, the minister praised the bilateral relations between Bahrain and India which contribute to enhance mutual visits between leaders of the two countries and such meetings contribute in economic development for both sides. In this context, the minister expressed leadership and government tribute for all efforts contribute to enhance mutual relation and achieve the desired effort.

During the meeting they reviewed a number of developments in investment and joint cooperation areas between the two countries, including the following:

• Chairman of Diwani Holding Group Mr. Abdulhussain Diwani noted the existence of a joint cooperation with Indian companies’ pharmaceutical field and medical products, as well as household items.
• CEO of Standard Chartered Bank of Bahrain Mr. Hassan Jarar pointed to a number of joint projects and that are currently studied food industry and logistics services fields and it is hoped to implement some of them in the country.
• Executive Director Nader & Ibrahim sons/Hassan Mr. Ibrahim AlAmeer noted to the cooperation between his companies and some Indian companies’ agriculture filed looking forward for more facilities to enhance export process to Bahrain and the region.

• Businesswoman Ms. Huda Sengoor indicted to her aspiration to increase investment opportunities in real estate sector in India, referring to the two agreements signed in New Delhi regarding cooperation in engineering services field.

• From his part, Chairman Hridas & sons of Mr. Baghwan Asarpota to the existing of cooperation between his company and a number of Indian companies to import food packaging equipment especially for sugar packaging.

• From EDB sides, Executive Director of Business Development Ms. Vivian Jamal pointed to the MoUs in commercial and industrial sectors which was signed by EDB during the historic visit of His Majesty the King to New Delhi in establishing office for Federation of Indian Industries in Bahrain in the near future.

• Chairman of Nass Group Mr. Samir Nass touched to a number of joint projects in construction field related to petrochemical industry, refining and engineering with a number of major Indian companies and the most important one is Essar Company with a market value of $16 billion and is listed its shares in London Stock Exchange.

• Executive Director of Financial Institutions Supervision at the CBB Mr. Abdulrahman Mohammed Al Baker stated that one of the Indian companies specialized in insurance and reinsurance filed hoped to raise the level of representation in Bahrain, which underlines the success visit of His Majesty the King to India.

• Businesswomen Dr. Lulwa Almutlagq touched the understandings signed between her company and some of the Indian companies in the field of training and human development in the medical. Ms. Khulood Alqattan noted to the role of this visit in increasing identifying her company and highlighting its activities at the external level.

Indian Ambassador Dr. Mohan Kumar expressed his appreciation to the Ministry of Industry and Commerce for holding this important meeting to highlight the latest development in mutual relations field between India and Bahrain, referring his readiness to provide all aspects of support for required companies and joint ventures in order to develop and enhance the relations. In this regard he refers to the upcoming visit of Indian Foreign Minister to the Kingdom of Bahrain with a number of businessmen and there will be a conference in Bahrain about investment in the Republic of India.

In this context, Dr. Fakhro expressed his tribute for all efforts aimed to enhance trade and economic relations, noting to the presence of a number of huge investment companies in the Kingdom of Bahrain such as JBF.
• JBF specialized in manufacturing of polyester with total investment value of $200 million where an agreement was signed between the Ministry and JBF on the sidelines of the historic visit of His Majesty the King to India.
• In addition to the signing agreement with CHEMCO that is specialize in plastic industry in order to establish a factory in Salman Industrial City in Bahrain with an investment worth $20 million.