21
March
2016
|
13:10
Europe/Amsterdam

Lord Mayor visiting Bahrain, a vital partner for the UK

The Lord Mayor of the City of London, Jeffrey Mountevans, is leading a business delegation to Bahrain (23 – 24 January 2016). The visit will focus on strengthening the UK’s relationship with Bahrain and ensuring that the UK remains Bahrain’s partner of choice for financial and professional services.

The Lord Mayor, an ambassador for the UK’s financial and professional services, will meet business leaders and senior members of Bahrain’s government.

Speaking ahead of the trip, Lord Mayor Mountevans said:

“Bahrain is a vital partner for UK companies. Its status as one of the Gulf’s major trading hubs means many of our firms already have a presence there, and many more want to join them. We are working hard to ensure the UK continues to be seen as its partner of choice when it comes to business, financial and professional services.

“Closer partnership will support the national and regional goals of economic diversification, growth and education. I will also discuss the UK’s expertise in developing infrastructure projects like schools, hospitals, social housing, roads and rail networks. The City of London has immense experience in this field and pioneered innovative financing models that mobilise the two-way flow of capital and help with that economic diversification.”

Signs of the strong relationship between Bahrain and the UK:

  • There are over 500 active UK commercial agencies and over 90 branches of British companies in Bahrain. In addition, over 350 Bahraini companies have UK partners;

  • British businesses already operating in Bahrain include HSBC and Standard Chartered;

  • The total value of bilateral trade in 2014 was about £451.4 million, up by 2% from 2013;

  • Bahrain is one of the UK’s largest export markets in the GCC. The UK exported £295.5 million in goods to Bahrain in 2014, a 9% increase on 2013;

--ENDS--

Boilerplate

Susanna Lascelles

City of London Corporation Media Team

Tel: 020 7332 1754

Email: susanna.lascelles@cityoflondon.gov.uk

Notes to editors

  • About the Lord Mayor of the City of London: The Lord Mayor is head of the Square Mile’s City of London authority for one year and the position is unpaid and apolitical. It is an exceptionally demanding role. The Lord Mayor spends some 90 days abroad and addresses some 10,000 people face-to-face each month (making around 800 speeches a year). The Lord Mayor represents City businesses and helps the City Corporation advise the Government of the day on what is needed to help the financial services sector to function well. The Lord Mayor frequently travels to represent the City; and travels overseas with the status of a Cabinet Minister. The Lord Mayor meets several international Heads of Government and Business each month to discuss financial services, often in conjunction with senior City business representatives. The Lord Mayor lives in the Mansion House for the Mayoral year.