By NNN-KUNA
Manama : The Bahraini-Iranian Committee convened its maiden meeting here on Wednesday, reflecting on bilateral economic, oil and tourist cooperative ties.
During the committee meeting, Bahrain was represented by its foreign minister Sheikh Khalid bin Ahmad Al Khalifa, while his Iranian counterpart Manouchehr Mottaki represented the Iranian side.
The committee stressed the importance of stimulating both countries’ private sectors to play a more active role in upgrading the level of bilateral trade, oil and tourist cooperation to new horizons.
Both sides mulled over how to spur and promote joint investments by both sides’ private sectors, entry visas, increasing of two-way trade exchange and bilateral cooperation in health, educational, agricultural, service, oil and gas sectors.
Iran is Bahrain’s promising trade partner, with two-way trade accounting for roughly 1.3 percent of Bahrain’s non-oil trade exchange with the outside world.
Non-oil trade exchange between both nations shot up to 37.5 million Bahraini dinars and 37.6 million dinars in 2005 and 2006 respectively from 12.7 million dinars in 2004, up 195.3 percent, according to Bahraini formal figures.
At the end of the joint committee meetings here on Wednesday, Bahraini and Iranian foreign minisers asserted determination to go ahead with their efforts to foster cooperation ties and make trade exchange reach an annual volume of USD one billion next year.
In a press conference following the committees meetings, foreign minister Sheikh Khalid bin Ahmed bin Mohammed al-Khalifa said talks dealt with key topics including political and economic ties, notably cooperation in the gas and oil as well as tourism and health sectors.
Economic cooperation between both countries is based mainly on oil and gas, Sheikh Khalid said, noting that a great progress has been made in this field in less than a year.
Sheikh Khalid said that the joint oil and gas technical committee will hold a meeting in January of next year to review means of activating the memorandum of understanding related to natural gas which was signed during the Iranian foreign minister manouchehr mottaki’s visit to Bahrain last November.
He expressed delight with the progress made in the Bahraini-Iranian cooperation and said that the joint committee will be holding a meeting every six months to follow up on agreements reached.
Sheikh Khalid called on the private sector to respond positively to official initiatives made by both countries to reinforce economic cooperation.
The meeting of the committee is the first implementation step in activating the visions of both leaderships on the need to reinforce and broaden bilateral ties, Mottaki said.
He stressed both countries’ desire to accelerate cooperation steps, underlining Iran’s admiration of the Royal reform plan and its impact on investment boost in both states.
Mottaki said the meeting led to very positive results, chiefly an agreement to provide Bahrain with its gas needs, calling on private sectors in both countries to contribute to the prospective investments.
Irans policy is based on development of its ties with regional countries, a strategy shared by both sides, he explained, pointing out to Iran’s intensive efforts to establish an fta with the Gulf states.