India, Bahrain to launch annual security dialogue

In a significant move, India, which has major interest in the Gulf region, and Bahrain have decided to launch an annual security dialogue to strengthen information and intelligence sharing apart from working closely to combat terrorism.
A joint statement issued today at the end of King Hamad bin Isa Al Khalifa's three-day visit here during which he held extensive talks with Prime Minister Manmohan Singh said both the sides agreed to further "broaden" their bilateral engagement in diverse fields, particularly in areas of defence and security cooperation, trade and business.
Besides agreeing to launch the security dialogue at the level of Deputy National Security Advisors, the two countries also denounced terrorism in all its "forms and manifestations" and reaffirmed their desire to strengthen their cooperation in combating terrorism at bilateral level and within the UN, the statement said.

On economic cooperation, the two sides noted with satisfaction the growth and progression of the bilateral trade ties with two-way non-oil trade reaching USD 1.268 billion in 2012-13.
Both the sides recognised the potential for greater trade and commercial exchanges and agreed to take necessary steps to provide an impetus to the bilateral trade turnover. The two countries agreed to provide favourable environment for investors.
A total of six MoUs were signed to expand cooperation in number of areas, particularly in economic front.
Recognising the enormous growth potential of the Indian economy, the Bahraini side expressed its willingness to consider investments in India. The Indian side recognised Bahrain as an ideal gateway to Gulf Cooperation Council (GCC) market.

GCC is a political and economic union of Arab states bordering the Persian Gulf, namely Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates.