MANAMA, 16 January 2008 — With the many developments and actions that the government provides to investors, Bahrain became an attractive destination for investors for major projects and exhibitions, a senior government official said yesterday. Dr. Hassan Abdulla Fakhro, minister of industry and commerce, who opened the Gulf Industry Fair (GIF), said that due to the importance of the expo, it would attract record number of visitors from across the region.

The minister confirmed what is owned by Bahrain has the potential of creating and integrating a platform for industry fairs able to attract major exhibitors, particularly those that are global, which makes it an important centre for all kinds of exhibitions and global investments, especially the one specialized in industry. Pointing out in this regard that the government actively seeks to harness all potential aimed to develop the exhibitions sector that enhance economic side of the Kingdom.

This came on the sidelines of the opening ceremony of GIF under the patronage of Prime Minister Shaikh Khalifa Bin Salman Al-Khalifa. Dr. Fakhro added in his statement that Bahrain has been and is still strategically important in the region, which is the first destination of many foreign investments. He said that GIF was one of the important exhibitions in the region as a whole as it includes large prominent names in the various fields of industry coming from all over the world.

“This will allow owners of major industries the opportunity to develop their businesses and industrial projects.”

The minister said that the exhibition would also provide an opportunity for companies and industry to promote its services and products to visitors from and outside Bahrain. Many leading institutions are participating in the show, such as Bahrain Petroleum Company, Al-Zamil and Al-Zamil Investment Company.

Dr. Fakhro yesterday also chaired the first annual audit meeting of the Free Trade agreement with the United States extended his gratitude for leadership and government supporting the implementing FTA between the two friendly countries and he added that the political leadership preferred initiating the formation FTA follow up committee. Bahrain provide economic, trade and investment climate with transparency, were major issues discussed during the Bahrain-US Free Trade Agreement (FTA) meeting.

He said that the Kingdom of Bahrain values this agreement and consider it modern mechanism not only to facilitate and promote trade between the two sides, but also to develop economic, investment and technology relations.

The minister also reviewed some of the positive developments during the last short period. At the national level, practical steps were taken to develop institutional structure for implementing and follow up bilateral negotiations and review Bahraini trade policy. On the other side, a meeting date has been set for the first annual review of FTA between US and Bahrain, to be held in the Kingdom on February 13, 2008.

In terms of business and investments between the sides, the Gulf-US form which was held last December resulted a positive outcome for both sides and agreed on the importance of holding annually in the Kingdom of Bahrain or in of the Gulf countries.

In term of business arrangements are under way to set a date for Bahraini economic and financial delegation form the private sector to visit the United State on April 2008, to focus on markets and American West center that consider one of the most US economic growth in terms of information and technology. On bilateral and regional level, a coordination with the American authorities to hold the second meeting of Arab Ministers who signed FTA with the USA either in Bahrain or USA soon to update the first meeting which was held in London in 2006.

The goal of the FTA meeting was to review the agenda of the first annual meeting of the agreement about different subjects that have been circulated with the American side and with Bahraini ministries.