Solid Bahrain-South Korea economic relations discussed

21/12/2014 06:49 AST

Chairman of the Bahrain Chamber of Commerce and Industry Khalid bin Abdulrahman Al-Moayyad has expressed pride in the growing Bahraini-South Korean relations in all fields, especially the economic one.

Speaking during a meeting with the South Korean Ambassador to Bahrain Jonha Yu, held recently at Bait Al-Tijjar, in the presence of BCCI board members and CEO, Al-Moayyad expressed Bahrain's desire to enhance its ties with South Korea in the trade, industrial and investment sectors, praising the current trade volume which reached USD 818 million according to recent figures provided by the Central Informatics Organisation (CIO).

The two sides recalled the historic visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince, Deputy Supreme Commander and First Deputy Premier, to South Korea in April, 2012, when the representatives of the two countries held a number of fruitful meetings and signed a number of agreements.

They called on businessmen and representatives of trade and industrial sectors in South Korea to visit Bahrain and invest in it.

The South Korean Ambassador lauded the outstanding Bahraini-South Korean relations, especially in the political and economic fields, praising Bahrain's co-existence, openness and economic progress.

He voiced his country's desire to expand areas of economic cooperation with the kingdom, stressing the need to intensify visits of trade delegations.

He expressed the South Korean Embassy's readiness to coordinate with BCCI in every initiative aiming to strengthen bilateral economic partnership.

He called on the private sector in Bahrain to seize the investment opportunities in South Korea, particularly in the Communication, Information Technology, Petrochemicals, Consulting, and Training sectors in order to bolster the existing economic relations, noting that his government provides investors free 60-day visas, extendable to 90 days.

BNA