Chairman of Bahrain Chamber of Commerce and Industry (BCCI), Dr. Essam Abdullah Fakhro, today, at Baet Al-Tijaar, met with the representative of the Office of the Turkish Republic of Northern Cyprus (TRNC) to the Kingdom of Bahrain, Mustafa Davaulsso, in the presence of Acting Chief Executive Officer Nabil Abdulrahman Al-Mahmoud.
BCCI's Chairman expressed the desire of the Bahraini private sector to establish economic relations with TRNC, in light of the lack of commercial exchanges between the two countries, pointing out the need to exploit all available investment opportunities in both countries.
Dr. Fakhro welcomed the development of relations between the two sides, and pointed to the establishment of an economic partnership between the two countries and the importance of overcoming all obstacles that hinder trade between the two countries.
He called on exploring further investment opportunities, and stressed the establishment of joint ventures and exchange of visits between economic delegations of various fields.
On his part, Mustafa Davaulsso expressed his country's desire to promote and strengthen bilateral relations and economic ties with Bahrain and to explore more investment opportunities and potential economic cooperation between the two countries, and welcomed bolstering mechanisms of cooperation between the two sides to serve common interests, and stressed on the importance of exchanging trade delegations visits.
He pointed out the advantages of investment in his country, including exemption from customs duties, exemption from value-added tax on the prices of imported machineries and equipment and the locally purchased ones, exemption from building permit in addition to lower fees on mortgage procedures that stimulate the establishment of various trade and investment projects there.
He praised the BCCI's efforts in supporting the development of economic relations between the two sides, and invited the commercial sector in the Kingdom of Bahrain to visit the TRNC to be acquainted with the investment opportunities and available areas of economic cooperation.