Bahrain, Japan sign deals to increase joint investment

Japan and Bahrain have signed a range of agreements designed to promote economic cooperation and joint investment between the two countries.

Thirteen memorandums of understanding and agreements were signed between ministries and private sector companies in the fields of healthcare and pharmaceuticals, education and training, oil and gas, and financial services.

The agreements were signed during a five-day state visit by a senior Bahrain delegation led by Prince Salman Bin Hamad Al-Khalifa, the Crown Prince of Bahrain and chairman of the Economic Development Board (EDB).

The delegation visited the cities of Osaka and Tokyo, with the aim of strengthening bilateral relationships and to highlight opportunities for investment in the Gulf kingdom.

Kamal bin Ahmed, acting chief executive of the EDB, said: “We are delighted at the success of the delegation’s visit to Japan.

“Bahrain and Japan have long shared a profitable economic partnership and today’s announcements pay testimony to the benefits that both our countries can gain from working together.”

Dr Esam Fakhro, chairman of the Bahrain Chamber of Commerce and Industry, added: “We are very happy to announce such a wide range of economic agreements across a number of sectors that play an important role in both our economies. We look forward to developing these relationships in the future.”

Japan is one of Bahrain’s major trading partners and Bahrain is also home to a number of major Japanese companies including Nomura Securities, Toyota Training Centre, Yokogawa, Daiwa Securities, Yamato Kogyo and SBI Pharmaceuticals.

The agreements included one between the EDB, Mumtalakat, Kinoshita Pearl, Japan International Cooperation Centre and First Stem Cell Japan to promote and revitalize Bahrain’s pearl industry.

Source: Reuters

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