Credit:  /bahrainedb.com /   Bahrain Business Delegation Signed Multiple Pacts  With French Companies Apr. 29,  2019 Paris. 

DIPLOMATIC TIME STAFF

As part of His Majesty King Hamad bin Isa Al Khalifa’s visit to the French Republic, the Bahraini business delegation accompanying His Majesty the King signed twelve agreements and memoranda of understanding with French companies and institutions worth $2 billion, according to a press release from EDB Bahrain.  The agreements were signed with the aim of strengthening bilateral economic relations between the two countries and increasing investment cooperation in various fields. This brings the total value of the agreements with France up to $4.63 billion.  Bahrain’s King Hamad  is visiting France at the invitation of French President Emmanuel Macron this week. 

The agreements signed by the Bahraini business delegation include:

• An agreement signed between Tatweer petroleum and TOTAL S.A. around cooperation for the new oil field exploration.
• Five agreements signed by Gulf Air with EPCOR, Thales Inc., Michelin, CFM and SAFRAN Landing Systems.
• Two agreements were signed by Osool with Amundi Asset Management and Tikehau. The first agreement is linked to the capital market, while the second one targets alternative investments.
• An agreement was signed by Yousef Bin Ahmed Kanoo with AXA Insurance Company around the construction of AXA’s headquarters in Bahrain.
• Three agreements signed by Bahrain Airport Company with Thales, who will be implementing an ICT package under the Airport Modernisation Programme. An agreement was also signed with ADPI which will provide the design and supervision of the Bahrain Airport Modernisation Programme. Finally, an agreement was signed with JCDecaux around a ten-year advertising concession.

SOURCE:  BAHRAIN EDB 

“His Majesty’s visit to France has certainly helped enhance investment cooperation between Bahrain and France across various sectors. During our meetings with senior officials and representatives from the private sector, we witnessed a deep level of interest in Bahrain as an ideal gateway to the Gulf region and as a destination with an open business environment that offers competitive advantages. We will be leveraging the investment opportunities arising from this visit so we can attract further French investments to the Kingdom which will contribute to the creation of high quality jobs in the local market.”

-His Excellency Khalid Al-Rumaihi, Chief Executive of EDB

Non-oil trade between Bahrain and France reached $507 million in 2018, which is a 105 per cent increase over 2015. Bahrain is home to prominent French companies and banks, including BNP Paribas, AXA Insurance, Fives Group, Thales, Veolia and the French Chamber of Commerce and Industry.