Bahrain, UK for greater trade ties

Manama : Expressing Bahrain’s keenness to further enhance trade ties with the UK, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister, HRH Prince Salman bin Hamad Al Khalifa yesterday said that Kingdom has strengthened its overall economic position in the region and global economy amid challenges.
Prince Salman was speaking during a discussion with UK’s Secretary of State for International Trade and President of the Board of Trade, Dr. Liam Fox MP at Gudaibiya Palace. The Crown Prince said Bahrain has achieved this feat by successfully increasing competitiveness and attracting investment.
Dr. Liam Fox is in Bahrain as part of an official visit to explore opportunities to enhance economic and commercial cooperation.
Responding to Dr. Fox’s propositions, the Crown Prince said that Bahrain is keen to further develop commercial and trade relations with the United Kingdom to enhance bilateral economic development. The UK’s Secretary of State reiterated UK government’s commitment to fully capitalise on key trade and investment opportunities through fair and free trade.
Separately, Dr. Fox held discussions with Prime Minister, HRH Prince Khalifa bin Salman Al Khalifa, Minister of Industry and Commerce Zayed bin Rashid Al Zayani, CEO of the Bahrain Economic Development Board Khalid Al Rumaihi and other key ministers and businesspeople. The Prime Minister, while talking with Dr. Fox, said that the way is always paved for more economic and trade cooperation between Bahrain and the UK.
Commenting on the EU Referendum, Dr Fox, said, “The British economy has proven resilient both before and after the Referendum, and now has a unique opportunity to place itself at the heart of this interconnected world, by strengthening alliances.”
Trade between Bahrain and the UK is currently at its strongest level.  In 2015 trade stood at just shy of £495 million – a 70 per cent increase over the previous 5 years. Bahrain and UK ties stretch over a wide range of sectors including aerospace, financial and professional services, automotive, education and defence to name a few.