86 April 2016 www.bahrainthismonth.com unitedkingdomsupplement With the bicentennary of diplomatic relations throwing light on trade between Bahrain and the UK, BTM quizzed Paula Boast, vice chairwoman of the Bahrain British Business Forum (BBBF), on the group’s activities. How long has BBBF been going in Bahrain? We’ve been running 20 years. BBBF was established by a number of businessmen and women, some of whom are still in Bahrain today. How many members are there and what is the mix between British and Bahrainis? We have 450 members at present – we see a little fluctuation from time to time as people come and go. The mix is currently around twothirds British and one-third Bahrainis. We are currently driving for more young professionals to come through. To that end we have solid relationships with Tamkeen and Bahrain Polytechnic, as well as our newly established Young Professionals Special Interest Group. Are you seeing more UK businesses ready to invest in Bahrain and, if yes, which ones are they and what is the level of that investment? The focus is on major inward trade investment. Recent successes include companies like BAE Systems and National Express who have been involved in the Bahrain transportation network. It’s always difficult to price-tag the value of wins such as these front end, but it should stand in the millions. It generates workstreams and employment both in Bahrain and in the UK. What is the current level of trade between Britain and Bahrain? It’s previously been reported that trade between the two countries is very strong at around BD260 million per year. British exports to Bahrain account for about two-thirds of that figure which has increased by seven per cent in recent years. UKTI (trade and investment) does great work day in, day out and it oversees the number crunching for inward and outward trade. The extent and value of that between Britain and Bahrain cannot be underestimated. We are significant trade partners. To what do you attribute Bahrain’s lasting attractiveness to British business? I think because Bahrain is simply different from other GCC countries in that our doors are essentially wider open. What I mean by that is that there are fewer barriers to trade. Don’t get me wrong, we have our frustrations occasionally but changes within the Ministry of Industry, Commerce and Tourism keep coming. They are evolving. I think we are genuinely quicker at corporate set-up here. Operational costs are lower. And we are a true hub for entities who want a springboard to the region as a whole. That means a lot in today’s very tight market. As an example I was talking to a potential new business yesterday about setting up in Bahrain. They opened in the UAE a year ago. But they wished they had known more about the opportunities offered in Bahrain. How will BBBF be involved in the celebrations of the 200th anniversary? There is a programme of events throughout the year and we are working closely with a number of partners on those, including the British Embassy, UKTI and the Bahrain Ministry of Foreign Affairs. We are hoping to see support from a number of high-profile visitors to Bahrain to highlight the anniversary. We will be kicking off with an industry technology development event on April 6 with our Oil & Gas Special Interest Group, which is being sponsored and hosted by a UK company. It is being run under the patronage of HE Dr Abdulhussain bin Ali Mirza, our esteemed Bahrain Minister of Energy. We are very grateful to him for his support. Full details are available on our website www.bbbforum. org<http://www.bbbforum.org>. Everyone is very welcome to register and attend. Anything else you would like to add? This year is clearly an important one for us and we are very proud to play our role in the 200year celebrations, but going forward we really must not underestimate the importance of yearon-year business development in Bahrain. That is important for all of our members at the BBBF. Our members are what make us successful. To ensure that business development happens we always need more members. More events. More networking. More business development. All of that leads to more trade. That is our focus at the BBBF. British-Business-Friendly Bahrain Paula Boast
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