Thailand-Bahrain set up trade joint venture

BANGKOK, April 19 (Xinhua) -- Thailand and Bahrain have jointly set up a company for trade between the two countries and Thai Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong chaired the signing ceremony on Friday.

Kittiratt said the move is to boost trade, in particular imports and exports in chicken as well as jewelry and accessories.

Trade between the two countries increased 40 percent with around 500 million U.S. dollars in value after Thai Prime Minister Yingluck Shinawatra visited Bahrain in mid-2012, he said.

The finance minister said Bahrain has a food security policy to use Thailand as a center for buying food supplies, and the purchasing power of the Bahrain people has increased, creating opportunities for the Thai private sector to expand business to the Middle East.

Thai Trade Representative Olarn Chaipravat said the collaboration will help boost bilateral trade on energy and food, for Bahrain is rich in oil reserves and a big market for oil trade, while Thailand is a producer of food and other agricultural products.

Bahrain will set up a center for agricultural products in Thailand for export to Bahrain, and will serve as Thailand's gateway to penetrate other Middle East and African markets, the Thai News Agency reported.

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