(MENAFN- Kuwait News Agency (KUNA)) BRUSSELS, May 16 (KUNA) -- Speakers at the first Bahrain-Belgium Business Forum have called for closer trade and economic links and cooperation between Bahrain and Belgium for the benefit of both countries.
"Bahrain places great importance to its relations with Belgium, which have grown steadily over the years, and we hope that today's event will become an annual fixture and enable us to consolidate our trade and economic relations," Bahrain's ambassador to Belgium, Dr. Bahiya Jawad Al-Jishi, said in her introductory remarks to the Forum held late Tuesday.
"Building upon the foundation provided by location, people and the early discovery of oil, Bahrain took the initative to diversify its economy," she said, referring to the recent discovery of significant reserves of oil and gas in her country, estimated to be at least 80 billion barrels of tight oil and between 10 to 20 trillion cubic feet of natural gas.
The forum was jointly organised by the Arab-Belgian-Luxembourg Chamber of Commerce (ABLCC) and the Economic Development Board (EDB) of Bahrain.
ABLCC Secretary General Qaisar Hijazin, in his speech, noted that Belgian exports to Bahrain increased by three percent from 82 million euro in 2016 to 84 million euro in 2017, while Bahraini exports to Belgium went up by 58 percent from 81 million euro in 2016 to 130 million euro in 2017.
"Trade relations between Bahrain and Belgium are modest, but we have to work to increase them," he added.
Professor Laurent Marliere, President of the Brussels-based Islamic economic and legal advisory firm (ISFIN), in his speech, underlined the important role Bahrain is playing as an Islamic banking hub in the region.
Simon Galpin, managing director EDB, Geert Hovens, country director EDB and Mahmoud Daylami Secretary General of the Gulf Aluminum Council, also addressed the gathering and presented the opportunities and facilities offered by Bahrain to foreign enterprises and businesses.(end) nk.hs
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