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DOHA: Bahrain will immensely benefit from the proposed Qatar-Bahrain ‘Causeway’ (‘Friendship Bridge’) as its GDP stood at $22.7bn compared with Qatar’s $173.2bn economy at the end of 2011, Qatari Businessmen Association (QBA) said yesterday.
“Abundant trade and business opportunities in Qatar and in the Kingdom of Bahrain can not only help strengthen bilateral relations but can also facilitate growth in economies of the two countries,” Sheikh Faisal bin Qassim Al Thani, Chairman of QBA said during a meeting with a visiting Bahraini delegation.
Hussein Alfardan, First Deputy Chairman of QBA, highlighted benefits of the causeway which aims to bolster communication and cooperation, in addition to the development of trade and exchange visits between both countries.
According to available figures, the trade balance is in favour of Bahrain. The volume amounted to $825m at the end of 2011, with Qatar’s imports totalling $737m and exports $87.5m.
The meeting was followed by a luncheon in honour of the delegation at the Renaissance Hotel.
The team included Consul at the Bahraini Embassy, Nasser Fares Al Qutami, Bahrain Chamber of Commerce and Industry members Farouk Al Moayyed, Samir Abdullah Nass, Mohammed Abdul-Jabbar Kohaji, Khalid Ali Amin, Khalaf Habib Hejair in addition to Hamid Youssef Rahma, Assistant Undersecretary for Domestic Trade at the Ministry of Industry and Trade, Dr Zakaria Ahmed Hejrais, Chief Executive Officer of the Universal Bank, Jihad Ibrahim Amin, a representative of trade and tourism, Saleh Abdullah Al Belushi and others.
Present were Sherida Saad Jubran Al Kaabi, Nasser Suleiman Haidar, Salah Murad, Nabil Abu Issa, Seraj Al Baker and Maqbool Habib Khalfan.
Sheikh Faisal described Qatar-Bahrain relations as a model for the GCC and Arab countries in terms of durability, strength and historical ties and fraternal relations between the two peoples.
He said businessmen in both countries enjoy incentives and possess the potential for consolidating and strengthening economic relations, especially since there are opportunities which allow them to establish partnerships and economic and trade relations which will strengthen bilateral ties and both economies.
Al Moayyed thanked QBA members for the warm reception.
He highlighted both countries’ efforts to support relations through laying foundations for future ties and signing agreements to help both peoples achieve their goals and fulfil their needs.