BCCI and visiting Chinese delegation explore bilateral economic and trade relations

The Bahrain Chamber of Commerce and Industry (BCCI) received today at Bait-ul-Tijjar, a Chinese delegation from the autonomous region of Ningxia, led by Mr. Tsu-Pu, the deputy secretary of Ningxia region in the Chinese Communist Party, in the presence of the Chinese Ambassador in the Kingdom of Bahrain, Mr. Li Xin. The BCCI has welcomed chairman and members of the visiting Chinese delegation and expressed its appreciation towards existing good bilateral relations between the Kingdom of Bahrain and the Chinese People's Republic (CPR) and welcomed Chinese investments in Bahrain, citing the Kingdom of Bahrain's attractive location, investment and economic legislations for overseas investments and its connection with the Gulf market - Bahrain being the commercial gateway to countries of the region- and one of the most excellent destinations for investors and investments from all over the world, and praised the volume of bilateral trade exchanges between the two friendly countries. The BCCI showcased during the meeting major economic and labor market reforms in the Kingdom of Bahrain, pointing out that Bahrain boasts the least taxation rates, operation expenditures and cost of living and allows 100% foreign capital ownership in more than 95% commercial activities without the need for a local Bahraini partner or sponsor. Also, Bahraini laws ensure the freedom to relocate capital funds and remit profits abroad. The BCCI called for intensification of exchanging of visits by trade delegations in order to stimulate businesspeople and representatives of conglomerates from both countries to explore potential investment opportunities and affirmed the aspirations of the Bahraini private sector to increase bilateral trade between the two friendly countries and peoples through establishing of joint ventures and encouragement of exchanging visits of economic delegations. On the other hand, the Chinese delegation praised good bilateral political and diplomatic relations between both friendly countries and expressed their interest in boosting bilateral cooperation relations through activation of the role of the private sector in development and activation of joint investments and praised the Kingdom of Bahrain's atmospheres of peaceful co-existence, open thinking and tolerance that encourages everybody to live and invest in Bahrain. The Chinese delegation expressed aspirations to bolster and develop bilateral economic and trade cooperation relations in all aspects as well as in the commercial and economic sectors with Bahrain commensurate with the potential opportunities in both countries in order to develop bilateral economic interest and praised the huge role played by mutual visits of commercial delegations especially in the private sector. The visit of the Chinese delegation aims to explore the means to develop and bolster bilateral economic and trade cooperation relations between the Kingdom of Bahrain and the friendly Chinese People's Republic in various industrial and commercial spheres. The Chinese delegation are also expected to meet with representatives of various economic and commercial sectors in the Kingdom of Bahrain. The meeting was attended by the BCCI's delegation deputy chairman Mr. Jawad Yusuf Al-Hawaj , alongside with members of the BCCI's board of directors: Abdulhameed Abduljabbar Al-Kooheji, Kazem Isa Al-Saeed, Adel Ahmed Al-Safar and Mr. Khalid Abdullah Al-Murbait senior director for local and international affairs in the BCCI.