By ARAB NEWS Published: Mar 16, 2010 17:26 Updated: Mar 16, 2010 17:26
MANAMA: Bahrain will host the first GCC-China Business Forum next week, organizers said on Tuesday.
More than 350 high-ranking GCC and Chinese delegates from across the business spectrum are expected to descend on Manama to attend the forum to be held at the Gulf International Convention Centre in Manama on March 22-23.
The forum is jointly organized by the Federation of GCC Chambers of Commerce and Industry (FGCCI), the Bahrain Chambers of Commerce and the China Council for the Promotion of International Trade (CCPTI).
Trade relations between China and the GCC regions have broadened dramatically over the past decade with the McKinsey consulting group predicting trade flows by 2020 will climb to between $350 billion and $500 billion.
The Manama forum is aimed at strengthening the economic links between the GCC nations and China, while improving the free flow of economic information and emerging opportunities from both sides.
According to the organizers, the forum will provide a chance for the GCC countries and China to find common ground over a number of issues, including trade, investments, technology transfers, business incentives and copyrights -- all key issues in the financial, oil, gas and petrochemical spheres.
"The relationship between the GCC and China has been growing in many areas of economic activity, hence the GCC-China Business Forum is being convened to further crystallize and focus on the priorities of cooperation, and at the same time, focus on the long range program of the partnership," said Abdulrahim Hasan Naqi, FGCCI secretary-general.
Since 2006, the Asian region has been the largest trading partner of the GCC, according to data compiled by Standard Chartered Bank. As of last year, Asia accounted for 55 percent of the GCC's total trade of $758 billion.
The talks will also include ministers, high-ranking officials and experts, addressing the forum across a variety of issues including renewable energy, construction, transportation, telecommunications, IT and more. Panel discussions with experts and analysts will discuss every topic presented in depth, with matchmaking and networking opportunities after each session.
"The forum is a great opportunity to further strengthen the economic and trade cooperation between entrepreneurs from both sides. China Council for the Promotion of International Trade will be sending a Chinese business delegation to participate in this event," said Wan Jifei, CCPTI chairman.
