BahrainandtheBahrainEconomicDevelopmentBoardstronglysupportChina'svisionoftheBeltandRoadInitiativetobuildacommunityofsharedinterestsbetweentheArabworldandChina.
LocatedintheheartoftheMiddleEast,Bahrainisperfectlypositionedtocarrythisvisionforward,saidKhalidAlRumaihi,chiefexecutiveoftheBahrainEDB.HealsopraisedChina'sglobalstanceoneconomicdevelopment.
"ChinaissuchavitalpartoftheworldeconomyandwefullysupportChinesedevelopment.IthoughtthatthestrongmessagesentbyPresidentXiatDavosrecently-committingtoandpraisinganinternationalapproach-washugelypositive,"hesaid.
BahrainhasbeenatradingoutpostconnectingtheGulftotheworldforthousandsofyears,withmaritimetradebetweenthestatesintheGulfCooperationCouncilandChinaestablishedasearlyastheeighthcenturyAD.TheChinesepotterydatingbackhundredsofyears,whichisondisplayattheBahrainFortMuseum,isevidenceofthislongtradingrelationship.
Bahraintradedpearls,dates,andcopperalongtheancientSilkRoad.ItalsoimportedsilkandmuskfromChina.
Today,BahrainishometoalargenumberofChinesebusinesseslookingto"goglobal"andtakeadvantageofbusinessandinvestmentopportunitiesintheMiddleEast.
ChinaandBahrainarealsocommittedtostrengtheningtiesthroughhigh-levelpolitical,economicandtradevisits.
Bahrainoffersoneofthemostliberalbusinessenvironmentsintheworld,rankedfirstintheMiddleEastandNorthAfricaregion,and18thglobally,intheHeritageFoundation'sIndexofEconomicFreedomReport2016.Additionally,ithasstrongpan-GCCtransportlinks,directaccesstotheGCC'slargesteconomy,SaudiArabia,aswellasskilledworkforcesandlowoperatingcosts.
BahrainalsohastheGulf'smostefficientprocessingoftradegoods,withtheshortesttraveltimebetweenseaport,airportandlogisticsprocessingzones.
TheKingdomhasanestablishedtrackrecordofprioritizingeconomicandsupply-sidereformstobenefittheprivatesector,withalongstandingfocusonaccess,valueandagilityforbusinessesbasedintheKingdom.
Bahrainhasbeenaregionalfinancialcenterforoverfourdecades,andhasthelargestconcentrationoffinancialinstitutionsandfundsregisteredanddomiciledintheGulfregion.
Itoffersatalentedpoolofhighlyskilled,educatedandexperiencedprofessionalsinthefinancialservicessector.
TheKingdomisrankedbytheICD-ThomsonReutersIslamicFinanceDevelopmentIndicatorashavingthemostdevelopedIslamicfinancialmarketintheMiddleEastandthesecondintheworld.AstheglobalIslamicfinancesectorexpands,Bahrainwillcontinuetoplayacentralroleinitsdevelopment.
DavidParker,executivedirectorofFinancialServicesattheBahrainEDB,said: "WeareproudtohavebeenattheheartofthedevelopmentofIslamicfinanceinthelastfewdecades,butourfocusnowisonusingthatheritagetohelpshapethefutureoftheindustry."
