Gulf Daily News - 24/9/2006

Trade agreements valued at $2.76 million were signed by a group of Bahraini entrepreneurs during their visit to China last week. Sixty meetings were held between representatives of various industrial sectors in Shanghai and the Bahraini entrepreneurs.

The visit was held under the banner of South-South Co-operation and in the framework of the Sino-Arabian SMEs (small and medium enterprises) Co-operation Initiative.

It was organised by the United Nations Industrial Development Organisation (Unido) through its ITPOs (investment and technology promotion offices), in Bahrain and Shanghai.

During the delegation's visit , the first Sino-Bahraini Entrepreneurs Business Forum was held in Shanghai, under the patronage of Finance Under-Secretary Shaikh Ebrahim bin Khalifa Al Khalifa, who is also chairman of the Bahrain Development Bank.

The meetings between Bahraini and Chinese entrepreneurs led to the signing of 26 letters of intent, said Unido-ITPO head in Bahrain Dr Hashim Hussein.

"Several trade agreements valued at $2.76m were also signed," he told the GDN.

The forum was opened by Unido director-general Dr Kandeh Yumkella in Xiamen, China, in conjunction with the 10th China International Fair for Investment & Trade.

The delegation consisted of more than 40 entrepreneurs and representatives of financial institutions and Investment Banks from Bahrain and the Arab region.

Twenty-four Bahraini entrepreneurs took part in the forum through the financial support of the Bahrain Development Bank, said Dr Hussein.

As part of the forum, a round table discussion on means and mechanisms for developing investments and trade linkages between China and the Arab region was also held.

The one-to-one bilateral meetings between Bahraini and Chinese entrepreneurs, held in Shanghai, were opened by Shaikh Ebrahim.

"ITPO Shanghai and Bahrain will provide the needed follow-up and support in order to facilitate the materialisation of these joint partnerships," said Dr Hussein.