January 13, 2010

MANAMA: Bahrain's third Gulf Industry Fair (GIF), which opened yesterday, is proof that the kingdom is performing well despite global economic pressures, said the Prime Minister.

"The Gulf Industry Fair is a good index reflecting the healthy national economy," His Royal Highness Prime Minister Prince Khalifa bin Salman Al Khalifa said.

He was speaking as he opened the expo at Bahrain International Exhibition and Convention Centre.

The three-day show is being organised by Hilal Conferences and Exhibitions.

The Premier stressed the government's drive to encourage value-added industries with rewarding dividends to improve people's living standards.

"The national momentum is continuing unabated although Bahrain is part of the world and is affected by global trends," he said.

The Premier toured different pavilions, praising the organisers' expertise and high-profile participation.

He urged Bahraini companies to profit from the GIF opportunities to enhance their edge and open up to other companies.

He hailed initiatives spearheaded by the private sector and its valuable contribution to economic growth.

He also called for a GCC industrial strategy to support national policies in this key sector.

"The industrial sector is a strategic option for GCC states to diversify revenues and reduce their dependence on oil-based economies.

"The tangible opportunities in the industrial sector are proving their capacity to adapt to the global crisis," the Premier said.

He stressed the importance of promoting highly-productive and value-added industries.

He also highlighted the need for GCC countries to form free trade agreements with countries to promote Gulf industries.

Hilal Conferences and Exhibitions chairman Anwar Abdulrahman thanked the Premier for patronising the opening ceremony.

"Thanks to the Premier's support, the GIF continued its growth momentum, boosting participation," Mr Abdulrahman said.

He also credited the Premier for promoting the exhibition industry as a key pillar of national economic growth.