Imtilak Properties
03-03-2017

Bahrain's Economic Development Board announced establishment of an office in Turkey in order to strengthen economic ties and increase the investment cooperation between the two countries, and that’s to promote the business environment in the Kingdom and to attract the direct investments.

Chief executive of the Economic Development Board Khalid Al Rumaihi, said that this important step of establishing an Office for the Economic Development Board in the Turkish Republic comes in implementation of the aspirations of the leadership of the two countries.

" The office establishment will contribute in increasing the communication with the Turkish investors, and will play a key role in creating broad partnerships between the Bahraini and Turkish business sectors, where there are many economic opportunities for both sides, particularly as we look to take advantage of what constitutes the Turkish economy from a major economic power in the region and the world, and we have seen in our meetings the interest of officials and Turkish investors to increase investment cooperation on a basis that Bahrain and Turkey of have an ancient relationship " Rumaihi has added.

Bahrain News Agency pointed that the Office will work to develop links with the Turkish business sectors, and will focus on attracting the Turkish investments with a competitive advantage to the economic sectors in the kingdom in accordance with the strategy of the Economic Development Board.

The trade volume between Bahrain and Turkey has reached more than 360 million US dollars in 2015.

Bahrain and Turkey also have signed a non-double taxation agreement and a bilateral agreement to promote protection and investments. Bahraini-Turkish Business Council and the Joint Economic Committee between Bahrain and Turkey are leading tireless efforts towards the development of economic relations.