MANILA: Philippine President Rodrigo Duterte urged businessmen in Bahrain to come and invest in the Philippines. He also witnessed the signing of amended bilateral agreements that strengthened old ties between Bahrain and the Philippines, sources said.
Duterte met with top CEOs and Bahrain businessmen on the 51st floor of Capital Club, Harbour Tower, on Friday. “They listened to our economic team on possible investments, mutual opportunities for economic exchanges, trade and investment, even tourism,” Philippine Ambassador to Bahrain Alfonso Ver said, the transcript of which reached Malacanang, Manila’s presidential palace.
Because of an earlier campaign trail, “a company in Bahrain and a company in the Philippines also signed a private business deal [on Thursday],” said Ver. Sources said this included a deal to expand a plantation in Davao City, southern Philippines.
There were other economic plans between the two countries. Earlier, Finance Secretary Carlos Dominguez revealed studies to open a LandBank subsidiary in Bahrain to cater to the thousands of overseas Filipino workers (OFWs) there.
LandBank had announced plans to acquire Philippine Postal Bank and convert it as a lender for OFWs. A Philippine bank in Bahrain will also help facilitate bilateral trade and investments, said Dominguez — he had met with members of the Bahrain Chamber of the Commerce and Industry (BCCI) before Duterte’s state visit.
On bilateral agreements, representatives of the Philippines and Bahrain signed an agreement to establish a High Joint Commission — “it serves as a forum and a mechanism for the discussion of the entire range of [economic and political] relationships between Bahrain and the Philippines,” said Ambassador Ver.
The two countries amended their double-taxation agreement. They also amended their air services agreement, said Ver, adding the foreign ministries of the two countries also forged a Memorandum of Understanding between the Foreign Service Institute of the Philippines and the Diplomatic Institute of the Bahrain Foreign Ministry.
The Philippines sees “Bahrain as a gateway for Philippines into Eastern province of Saudi Arabia, Saudi Arabia and the greater GCC [Gulf Cooperation Council],” Vber explained.
The signing of the bilateral agreements occurred after a welcome ceremony was held for Duterte and his entourage at the Sakhir Palace on Thursday. His Royal Highness Shiekh Ali Bin Khalifa Al Khalifa, the deputy prime minister, hosted Duterte and the Philippine delegation at the Ritz Carlton Hotel on Thursday noon. The welcome dinner for Duterte was held at the Sakhir Palace.
Duterte met with 4,000 overseas Filipinos in Bahrain at the Khalifa Sports Complex. It marked the end of his state visit in Bahrain.
There are an estimated 60,000 overseas Filipino workers in Bahrain.
“They are so anxious and excited to hear, direct from him, his programmes, his plans for the workers here, for their welfare, for their protection, and what they look forward to in the Philippines under his administration,” said Ambassador Ver.
Before his meeting with Bahrain businessmen and the OFWs, Duterte held a meeting with Prince Salman Bin Hamad Bin Isa Al Khalifa, the Deputy King, Crown Prince of Bahrain, at the Bahrain International Circuit.
Duterte was the first Filipino leader to visit Bahrain in eight years.
Duterte arrived at the Bahrain International Airport late on April 12, after a two-day state visit to the Kingdom of Saudi Arabia, from April 10 to 12. He will proceed to Qatar.
