Bahraini minister stresses Gulf’s will to diversify economic sources

Cooperation Council of Gulf State and Britain discussed, in its first conference, the ways to develop partnership between the public and private sectors to pave the way for executing the plans aiming to achieve national transformation and to increase economic cooperation between the two sides during the coming period through exchanging experiences and creating jobs with cognitive content.
On his hand, Bahraini Minister of Industry Zayed Bin Rashed Al Zayani said that both the Gulf States and Britain witness currently a transitional phase, stressing that the Gulf States turned to diversify the economic sources and not to depend on only oil. He added that the major challenges they face during the current period are the notable decline in the prices of oil and increasing unemployment.
However, he added, Britain also witnesses one of its critical phases, as it decided to exit from the European Union, saying that the decision could leave major repercussions on the British economy. He praised the relations between Bahrain and Britain, saying that they work currently to exchange experiences to overcome the challenges facing them.
He added, in press statements on the sideline of the conference, that his country will increase its investments in Britain despite currency fluctuation witnessed in Britain, expressing his confidence in the strength of the British economy. He praised cooperation between the two countries stressing the need for working to increase this cooperation during the coming period.
He stressed that the British economy is strong, saying that the current phase of economic problems will not continue for a long time. He stressed that Britain has great opportunities of investments. He added, “We aspire that the Britons will increase their investments in our region. We already have high rate of trade exchange, while we need to increase the investments.”
He added, “2030 Vision in Bahrain focuses on major sectors, including manufacturing and financial services and banks in addition to insurance, technology and tourism. However, we will not ignore the other sectors, as we work to support the private sector to perform a major role to develop them, including education, housing and health.”