| |
The second phase of
the joint UNDP and Ministry of Industry and Commerce Globalization
Programme entitled: ‘Support to Enhancing Institutional Capacity for
Global Economic Environment and Governance’. The Programme Document
was signed by H.E. Dr. Hassan Fakhro, Minister of Industry and
Commerce and Mr. Sayed Aqa, UN Resident Coordinator and UNDP
Resident Representative at a ceremony held at the Ministry’s
premises.
The Kingdom of Bahrain's economy is well equipped and competitive in
several respects, including low taxation, openness to global trade,
well regulated financial market meeting global industry standards,
and convenient high quality living conditions , explained Sayed Aqa,
the UN Resident Coordinator. The government has focused on
diversifying the economy in non-oil sectors, and the country is
currently leading trade negotiations in the Gulf Cooperation Council
(GCC) states to increase levels of freedom in business, monetary and
financial areas.
This Programme builds upon the achievements in Phase I of the
Project, in which existing processes, procedures, legislations and
regulations were reviewed and procedures were put in place to
promote effective functioning of relevant Directorates of the
Ministry of Industry and Commerce (MoIC), added Mr. Aqa
This four-year Programme aims to enhance the institutional and
technical capacities in order to improve the governance system and
its efficiency, targeting the primary stakeholder, the Ministry of
Industry and Commerce, the private sector and other line
institutions. The activities will support the creation of adequate
national capacities for effective trade policy administration. These
results are expected to support the national capacities in
effectively handling WTO negotiation rounds and FTA agreements,
therefore increasing the integration of Bahrain in the global
economy. This will support Bahrain’s participation in global
decision-making, in order to attract further international economic
activity.
In his statement at the signing ceremony, Dr. Hassan Fakhro,
Minister of Industry and Commerce, said “The Directorate of Foreign
Trade (DFT) is the focal point for WTO trade negotiations and this
project also aims to enhance the capability of the DFT in the
negotiation, application and implementation of WTO DDA, FTA and TPR
outcomes, maximising the benefits to the private sector and the
national economy.”
Under this Project, the Directorate of Industrial Property (DIP)
will receive support in re-engineering its structure to enable it
better to enforce international legislation that regulates IP, as
well as to establish systems of registration for IP under WTO TRIPS
with national objectives and international requirements. In addition
the Bahrain Standards and Metrology Directorate (BSMD), will be
strengthened to enforce ‘good regulatory practices’. |
