Al-Kooheji explained that the Chinese initiative, launched 11 years ago, has significantly boosted trade and investment flows between China and the Middle East. He highlighted that the major projects implemented under the initiative, including the development of airports, railways, and advanced communication networks, have strengthened regional integration and revitalized trade among participating countries.
He pointed out that the GCC countries have witnessed remarkable growth in trade volume with China, making China the largest trading partner for the GCC. According to statistics, the trade volume between the GCC and China exceeded $229 billion in 2021, reflecting the growing economic ties between the two sides.
Al-Kooheji added that these relations have been particularly strengthened between Bahrain and China, as the Kingdom of Bahrain signed 10 strategic agreements with China during the visit of His Majesty King Hamad bin Isa Al Khalifa of the Kingdom of Bahrain to China last May.
He further noted that Bahrain has set ambitious plans to enhance economic diversification through the Bahrain Economic Vision 2030, which closely aligns with China’s Belt and Road Initiative. This vision aims to develop the transportation and energy sectors through Chinese investments and expertise, and to boost manufacturing, financial services, and tourism.
Al-Kooheji also noted that the value of non-oil bilateral trade between Bahrain and China reached approximately $2.185 billion in 2023, with Bahrain importing $2.15 billion worth of goods from China, making China Bahrain’s largest trading partner.
The Bahrain Chamber also signed a Memorandum of Understanding (MoU) with the Hong Kong Trade Development Council (HKTDC), focusing on developing a structured framework that encourages the increase of trade and investment between the two regions, contributing to strengthening economic and commercial ties and fostering strategic partnerships that promote sustainable economic growth for both sides.
AE