Bahrain and Thailand have agreed to bolster their cooperation on food security, Islamic finance, education, culture and construction.
In a joint communiqué at the end of Thai Prime Minister Abhisit Vejjajiva’s two-day visit to Manama, the two countries said that they had convergent ideas and views on bilateral and multilateral cooperation, the situation in the Middle East and on closer consultations and ties between the Gulf Cooperation Council and the Association of Southeast Asia Nations (Asean).
In an interview with the local media, Vejjajiva said that Manama and Bangkok have agreed to set up a food stockpile and distribution centre in Bahrain that will serve the GCC region. The centre will initially be used for food products such as sugar and rice, but will later distribute larger items, including building materials and car parts. The supply food will not be confined to Bahrain and will be distributed in the other Gulf countries, he said.
“This is a region with substantial purchasing power and good growth prospects where we have matching of demand and supply on the issue of food and we feel we can contribute to food security in the region,” Vejjajiva said. A feasibility study will determine the amount of investment and how the centre will contribute to overall trade. “We will need up to six months to complete the study.”
Vejjajiva said that the centre would help boost trade figures between Thailand and the GCC countries. “Our preliminary anticipation is that we can increase trade by three or four times quite easily, because GCC countries actually import 90 per cent of their food stuff and we currently only participate with less than five per cent,” he said. Thailand expects the Gulf countries to help it with its energy requirements. Trade volume between Bahrain and Thailand stands at around $360 million. continue reading…
