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Launch of the Bahrain British Business Council (BBBC)

His Highness Shaikh Salman bin Hamad Al Khalifa, Crown Prince and Chairman of the Bahrain Economic Development Board, visited the offices of the Arab British Chamber of Commerce on Friday, 23 November 2007, when he was Guest of Honour at a reception to formally mark the launch of the Bahrain British Business Council (BBBC).

Dr Afnan Al Shuaiby, Secretary General and Chief Executive of the Arab-British Chamber of Commerce, and Mr Khaled Al Zayani, Chairman of Al Zayani Investments WLL, signed a memorandum of understanding (MOU) agreeing to establish a bilateral, business-to-business Bahrain British Business Council with the aim of fostering a dynamic and productive commercial environment in the areas of trade, investment and economic development.  The objectives, activities and potential membership of the council were set out in associated terms of reference.
Welcoming all the distinguished guests, she said that “the Chamber takes great pleasure in playing host today and partnering in the launch of the Bahrain British Business Council, an exciting new initiative which will build on the profound and enduring friendship that exists between Bahrain and the UK.”
The A-BCC Secretary General pointed out that Bahrain was one of Britain’s “longest and closest Gulf partners and has long enjoyed an important strategic business relationship with this country”. The reforms that Bahrain has been implementing were making the Kingdom “one of the most accessible economies in the region and one of the most successful in attracting foreign direct investment” she continued.

Dr. Afnan Al-Shuaiby

Stressing the potential for enhancing the business links between the two countries, Dr Al Shuaiby, stated that “UK visible exports to Bahrain in 2006 amounted to £263.6 million in 2006, an impressive 45% increase on the previous year.  Exports in the first half of 2007 were 23% higher than in the first half of 2006.” 
 
She announced that the first meeting of the new council is planned to be held in Bahrain in February 2008 when it will concentrate on the business, investment and other opportunities for cooperation in the field of education.
 
The discussions will focus in particular “on a proposal for a major new university development in Bahrain for which we intend to field a strong British team from the academic world and associated business disciplines,” Dr Al Shuaiby said.
Finally, she paid tribute to Khalid Al Zayani and Al Zayani Investments, the main Bahraini partners in this venture, who were bringing experience of working on a similar venture in the US.
The Crown Prince offered the blessing of the EDB for the new council which he welcomed as an entirely private sector-led initiative and an indication of the success of Bahrain’s strategy to stimulate the business sector. He welcomed the fact that the BBBC had set itself achievable objectives of organising four events a year.

HH Shaikh Salman

HH Shaikh Salman also suggested that five years would be a good time to assess and report back on the achievements of the BBBC in order to demonstrate how it had been effective.
Baroness Symons of Vernham Dean, who is a Director of the A-BCC, also briefly addressed guests after the signature of the MOU and warmly welcomed the creation of the BBBC.

Dr. Afnan Al-Shuaiby (left) and HH Shaikh Salman (right)

The top-level delegation from Bahrain who were visiting London for the launch included H E Shaikh Ahmed bin Mohamed Al Khalifa, Bahrain Minister of Finance, H E Rasheed M. Al Maraj, Governor Central Bank of Bahrain, H E Shaikh Mohammed bin Essa Al Khalifa, CEO, Economic Development Board, accompanied the Ambassador of Bahrain in London H E Shaikh Khalifa bin Abdullah Al Khalifa.
Shaikh Khalifa bin Daij Al Khalifa, President of the Court of the Crown Prince and Shaikh Abdulla bin Isa Al Khalifa, Private Secretary of His Highness the Crown Prince, were also in attendance.
Arab ambassadors visiting the Chamber for the occasion were H E Mr Khaled Al Duwaisan, Ambassador of Kuwait, H E Easa Saleh Al Gurg OBE, UAE Ambassador, HRH Prince Mohamed Bin Nawaf Bin Abdulaziz Al Saud, Ambassador of Saudi Arabia, H E Khalid Rashid Al Mansouri, Qatar Ambassador, HE Dr Alia Bouran, Jordan Ambassador, H E Dr Sami Khiyami, Syrian Ambassador, HE Mrs Hamida Mrabet Labidi, Tunisian Ambassador and HE Mrs Inaam Osseiran, Head of Mission, Lebanese Embassy. Distinguished guests from the UK business community at the reception included Alderman David Lewis, Rt Hon The Lord Mayor of the City of London. Members of the Board of Directors of the A-BCC were also present.

Dr. Afnan Al-Shuaiby (left) and Khalid Al Zayani (right)

The aims proposed activities of the BBBC as outlined in its terms of reference include:
• Facilitating trade and investment flows by which British businesses can maintain and grow market access to Bahrain
• Providing British and Bahraini companies with market intelligence, business information and advice on legal and financial regulations when pursuing bilateral trade
• Helping small and medium-sized British companies meet the challenges of entering Bahrain as a market for the first time
• Helping British companies already in Bahrain to expand their business activities.