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A Senior delegation from the Kingdom of Bahrain led by the Capital Governor H.E. Sheikh Hisham Bin Abdulrahman Al Khalifa and organized by the Bahrain Economic Development Board (EDB) visited Shenzhen during the 20th China Hi-Tech Fair and signed eight landmark agreements with the city Friday.
Next year marks 30 years since China and Bahrain established diplomatic relations. In advance of the anniversary, Bahrain is set to further deepen economic ties with China, according to the EDB.
At the Bahrain-Shenzhen Business Forum held Friday, Bahrain signed MOUs with artificial intelligence (AI) firm Intellifusion Technologies and fintech company AIPPPAY.
Through the collaboration, Intellifusion Technologies will further advance AI dynamic portrait recognition that can benefit China, Bahrain and the Middle East. Additionally, the company will explore the potential of establishing headquarters and an AI institute in the Middle East.
The EDB has partnered with AIPPPAY to establish a full mobile payment gateway in Bahrain and explore opportunities in cryptocurrency, fintech funds and a mobile Internet incubator in the kingdom to accelerate regional digital economic development as well as the establishment of a fintech ecosystem between the Middle East, North Africa and China.
“Our partnership with Shenzhen was built on our common heritage as open and innovative hubs with shared economic interests. We are very pleased to see our ties with this vibrant city continue to strengthen and believe these agreements will help us move toward a new era of collaboration,” said H.E. Sheikh Hisham Bin Abdulrahman Al Khalifa.
Since Manama, the capital city of Bahrain, and Shenzhen became sister cities in 2016, the two cities have forged a number of business links. In June 2018, Bahrain EDB inaugurated its representative office for Southern China in Shenzhen, aiming to facilitate more investment by Chinese companies in Bahrain.
“We see our partnership with Shenzhen as a model for forging wider and deeper business ties between our two countries. There are numerous opportunities for Chinese companies in the region, especially in the fields of technology, finance, manufacturing, logistics and e-commerce,” said H.E. Khalid Al Rumaihi, chief executive officer of Bahrain EDB.
Bahrain has also signed MOUs with the China Council for the Promotion of International Trade Shenzhen Branch, Shenzhen Outbound Alliance, Softbank China Capital, 4PX Express and Cool-hi Network Culture Technology.