India eyes boost to Bahrain trade ties

Gulf meets nearly two- third of India’s crude oil requirements and is her largest trading partner

External Affairs Minister Sushma Swaraj will travel to Bahrain tomorrow where she is likely to seek stepped- up investment in India from the country while highlighting a wave of new initiatives taken by the new government to spur economic growth.

It will be her first visit as External Affairs Minister to the Gulf region which is source of nearly two- third of India’s crude oil requirements and is the largest trading partner. During her visit, Swaraj will hold talks with top leadership of the country on a range of bilateral, regional and global issues of mutual interest.

The External Affairs Minister will also attend an Indian Diaspora Engagement meet being organised by Overseas Indian Facilitation Centre ( OIFC) in Manama to woo investors. The OIFC is a public- private initiative of the Ministry of Overseas Indian Affairs and Confederation of Indian Industry for promotion of overseas investments into India.

Close ties

India and Bahrain enjoy cordial and friendly relations, marked by close people- topeople contacts and regular high- level political exchanges. King Hamad Bin Eisa Al Khalifa had paid his first State visit to India in February. Bahrain is an important partner for India in the Gulf with bilateral trade in 201314 exceeding $ 1.3 billion. Over 350,000 Indian nationals work and contribute to the development of Bahrain.

India has vital stakes in the security and stability of the Gulf region, which hosts about seven million Indians.

Officials in OIFC said the government will highlight various measures and policy initiatives at the Diaspora Engagement meet to woo overseas investors.

The inaugural session of the meet is scheduled to be addressed by Shaikh Khalid Bin Ahmad Al Khalifa, Minister of Foreign Affairs of Bahrain, and Kamal Bin Ahmad, Minister for Transportation and Acting Chief Executive of Economic Development Board of Bahrain.

Over 400 delegates from Bahrain are expected to participate in the meet. “With the new Government’s affirmed and focused policy direction and action on multiple fronts, the Indian economy has shifted tracks and is looking up,” Charu Mathur, CEO of OIFC, said.