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Abu Dhabi, UAEWednesday 19 December 2018

Bahrain signs more agreements with China as economic ties deepen 

Gulf nation and Chinese province Hangzhou reached accords following pacts with Shenzhen province

Bahrain and China are deepening economic ties with a series of pacts to develop co-operation in sectors from e-commerce to logistics. Photo by Phil Weymouth
Bahrain and China are deepening economic ties with a series of pacts to develop co-operation in sectors from e-commerce to logistics. Photo by Phil Weymouth

Bahrain and China signed several agreements to expand co-operation in the sectors of e-commerce, logistics, transportation, financial services and tourism as the two countries deepen economic ties.

Bahrain Economic Development Board (EDB) reached an agreement with Chinese e-commerce retailer JollyChic to explore the potential of using Bahrain as its Middle East hub, Bahrain EDB said in an emailed statement on Tuesday. The agreements came during a senior Bahraini delegation's visit to Zhejiang Business Forum in the Chinese province of Hangzhou.

"We believe a partnership with the Zhejiang government and local leading businesses, such as Jolly Chic, will help both Bahrain and Zhejiang accelerate digital transformation in the 21st century economy," Bahrain's governor of the capital Sheikh Hisham bin Abdulrahman Al Khalifa, said.

Hangzhou is one of several stops the Bahraini delegation made on a nine-day tour of China's main commercial hubs, including Shenzen, where they signed nine accords for economic co-operation last week.

The countries are deepening economic links ahead of the 30-year anniversary of the establishment of Bahraini-Chinese diplomatic ties in 2019. The delegation will head to Shijiazhuang and Beijing next.

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Among the pacts signed in Hangzhou, the Bahrain Chamber of Commerce and Industry (BCCI) signed an agreement with the Zhejiang International Investment Promotion Centre to establish cooperation between Bahraini and Zhejiang companies and develop the private sector in both countries.

"“We strongly believe that through these agreements, we can work together to create a shared future for Bahrain, China, and the Gulf region," Khalid Al Rumaihi, Chief Executive of the Bahrain EDB, said.