Bahrain businessmen, IMC explore trade, investment prospects

Mumbai, Apr 26 (UNI) A six-member delegation comprising traders and manufacturers of the Bahrain Businessmen's Association interacted with the members of the Indian Merchants Chamber (IMC) here yesterday to explore business prospects in India.

The delegation was accompanied by Bahrain's Consul General in Mumbai Eid Humood Al Qahtani.

Besides Chairman of the A K Al Moayed Group and team leader Khalid Al Moayed, the delegation also included Al Hawaj Group's Managing Director Jawas Yousif Al Hawaj engaged in the perfumes and cosmetics, home appliances and consumer electronics and leather goods businesses, Kewalram&Sons' Managing Director Kishore Kewalram, doing business in wholesale and retail trade in textiles, electronics and home appliances, National Trading Co WLL's Managing Director Bhagwandas Thaker in the stationery, office products and corporate gifts businesses, the Olympic Group's Director Mubarak Ahmed Al Noaimi, engaged in building construction, general building materials, electricals and air-conditioning businesses and Ali Hussain Mirza, Manager, Bahrain Businessmen's Association.

Pointing out that the two-way trade between Bahrain and India amounted to USD 254.56 million in 2004-05, an IMC release stated that Indian exports to Bahrain mainly comprised textiles, base metals and products, electrical, electronics and other machinery, chemicals and allied products, animal products, plastics, rubber and related items, building and construction materials, jewellery and foodstuffs while India's main imports included crude oil, machinery and chemicals.

The members of the two sides agreed that there were good export prospects for India in agricultural products, sanitary fixtures, drugs and pharmaceuticals, plywood, ceramic tiles, power generation and transmission equipment, light engineering goods, leather products, textile and related products, stated the release.

Mr Khalid Al Moayed highlighted the fact that India and the Gulf countries shared a long history and the people too had a lot of similarities. ''The Bahraini government is progressive, is democratising and deregulating its systems. It encourages joint ventures both in Bahrain and India. Businessmen can take advantage of the US-Bahrain free trade agreement, and export products to US from our country after adding 35 per cent value addition by way of local manufacturing processes,'' he said.

Bahrain's Economic Development Board has identified areas in Bahrain requiring foreign investment and the Bahrain Businessmen's Association actively encourages and assists its members and foreign businessmen for collaboration, he said, adding that ''Bahrain is a major financial centre and has 400 international banks and financial institutions, enabling people to do business with all countries in the world.'' UNI JJ KD AG1553