Minister of Industry and Commerce concludes successful visit to Kingdom of Bahrain

Minister of Industry and Commerce Rishad Bathiudeen, undertook a visit to the Kingdom of Bahrain in order to widen, deepen, strengthen and elevate the economic, commercial, trade, touristic and investment  relations between the two countries as well as to participate as an invited Speaker at the International Institute of Inspiration Economy in Manama, Bahrain.

Minister Rishad Bathiudeen along with Ambassador Dr. Saj Mendis conducting discussions withMinister of Industry, Commerce and TourismRashid Alzayani, along with his senior most officials and Secretaries of the Ministry

Bathiudeen was accompanied to all the meetings, engagements and courtesy calls by the Ambassador of Sri Lanka, Dr. A. Saj U. Mendis, and the Coordinating Secretary of the Minister, Riyaj Mohamed Bathivutheen. 

Bathiudeen during his two-day visit to the Kingdom of Bahrain had comprehensive and expansive discussions with his counterpart Minister Zayed bin Rashid Alzayani, Minister of Industry, Commerce and Tourism of the Kingdom of Bahrain along with his senior most officials. Bathiudeen also had an audience with the Crown Prince of the Kingdom of Bahrain and luncheon meeting with Sheikh Salman bin Khalifa Al Khalifa, Principal Adviser to the Prime Minister.

Minister Rishad Bathiudeen being introduced to corporate leaders and captains from the Business Chambers in the Kingdom of Bahrain by Ambassador Dr.Saj Mendis at the Investment Forum hosted at the Embassy

Bathiudeen also addressed an Investment Forum organised and coordinated by the Embassy of Sri Lanka, which consisted of over 60 select corporate leaders, business personalities and leading Sri Lankan entrepreneurs, mostly from the Bahrain Asian Traders Committee [BATC] and from the high profile Bahrain Chamber of Commerce of Industry [BCCI]. 

At the Investment Forum, both the Minister Bathiudeen and Ambassador Dr. Mendis outlined and delineated the investment and economic scenario of the country and urged, particularly, the corporate leaders of the Chambers of Bahrain to visit Sri Lanka for the forthcoming ‘Sri Lanka Investment and Business Conclave 2016’ scheduled to be held from 8-10 March, among others.

Minister Rishad Bathiudeen and Minister Zayed bin Rashid Alzayani discussed a myriad of issues relating to economic, commercial, touristic, trade and investments, thus endeavoring to deepen and strengthen the bilateral relations in the commercial and economic sphere and province between the two countries.

Minister Bathiudeen with the Crown Prince at the Gudabiya Palace. Bathiudeen is Seated with the Ambassador and the Coordinating Secretary, whilst the Crown Prince is with his Deputy Prime Ministers and senior most Advisors of the Royal Court

Bathiudeen outlined the highly stable political and economic tapestry of the country, after the election of the Sirisena administration in January of last year. He further added that tourism in Sri Lanka would be closed to two million this year, given the vast touristic attractions as well as peace in the country. Minister Bathiudeen also briefed and expounded to his counterpart Minister of the recent Parliamentary Elections of Sri Lanka held in August of last year, in which the UNP was elected. 

He further added that the elections were highly transparent, fair and peaceful compared to that of the previous elections held in Sri Lanka. Today, Sri Lanka has restored democratic norms and tenets, rule of law, rule of justice, good governance, freedom of speech, freedom of press, and freedom of expression, among others, which were alien to the populace of Sri Lanka during the previous administration. 

Bathiudeen broached the fact to his counterpart Minister that the two countries have not yet exploited and have not taken the strategic vantage of the enormous economic, commercial, touristic, outsourcing and investment opportunities and vistas as well as the natural endowments. Both the Ministers agreed that the bilateral trade is still hovering around $ 25 to 30 million and foreign direct investments and foreign institutional investments are minimal from Bahrain to Sri Lanka and vice-versa. Further, both the Ministers agreed to enhance relations with greater and proactive cooperation, collaboration, facilitation and partnership. 

Bathiudeen stated that Sri Lanka is ideally positioned for Business Processing and Outsourcing [BPO] and Knowledge Processing and Outsourcing (KPO) sector as well as for the corporates and industries of Bahrain to have facilities in Sri Lanka. This would enable those corporates of Bahrain to have direct and easy access to the large market of Indian sub-continent, which accounts a population of well over 1.6 billion. Further, the corporates of Bahrain could reduce their cost of production drastically by outsourcing the facilities to Sri Lanka. 

Minister Alzayani added that his country is eager and is keen to engage with Sri Lanka on her economic and commercial trajectory, thus benefiting both the peoples and the countries. Minister Alzayani also added that the two countries have maintained most cordial and congenial relations not for decades but for centuries, which would enable the corporate captains and leaders of the two countries to exchange ideas and propositions and seriously consider committing investments and projects in both the countries. Bathiudeen accentuated the fact that the current Government assertively and aggressively focuses on promotion and augmentation of economic and commercial diplomacy. 

Minister Alzayani much appreciated the significance and importance of the meeting and exchange of ideas with Minister Bathiudeen and added that the Kingdom of Bahrain, in general, and his Ministry, in particular, would look into Sri Lanka, very favorably, given the optimistic and idealistic investment climate of the country.

Bathiudeen was extended courtesies by the Minister of Industry, Commerce and Tourism of the Kingdom of Bahrain as a Guest of Ministry of Industry and Commerce of Bahrain. The Ministry of Industry and Commerce of Bahrain and the Embassy of Sri Lanka succeeded in securing an audience with the Crown Prince, in such brief notice. 

During this meeting, Bathiudeen conveyed sincere wishes and greetings from the President and Prime Minister of Sri Lanka and appreciated the Kingdom of Bahrain for supporting the cause of Sri Lanka at regional and multilateral forums, particularly, at the Human Rights Council in Geneva. Minister Bathiudeen also expressed gratitude on behalf of the Government of Sri Lanka to the Kingdom of Bahrain and to the Crown Prince for extending well over $ 1 million for construction of 200 houses for displaced persons in the north and east of Sri Lanka. 

He further expressed gratitude to the Kingdom of Bahrain for extending a comfortable work environment for Sri Lankan workers, mostly skilled and professionals, in Bahrain. Ambassador Dr. Mendis enunciated the vitality of the migrant workers for Sri Lanka since they contribute nearly 9% of the GDP, which is higher than the combined contribution of the next three sectors. 

The Crown Prince appreciated the call and stated that the Sri Lankan workers are much liked by the employers and corporates of the Kingdom of Bahrain since they are highly professional, committed, dedicated and competent on their respective disciplines and trades. The Crown Prince also acknowledged that Sri Lanka is well positioned and well poised to become a rapidly developing nation as well as a hub in the region of South Asia, thus extending services and facilities to the entire region beyond that of South Asia.

Bathiudeen invited both the Crown Prince and the Minister of Industry, Commerce and Tourism to visit Sri Lanka as Special Guests of the Government of Sri Lanka. According to the media of the Kingdom of Bahrain, the visit of Minister Bathiudeen was highly successful and result-oriented, thus enabled to widen, to deepen and to elevate the economic, commercial and investment relations between the two countries.