IP/Legal Practice In Bahrain

With the fastest growing economy in the Arab World, Bahrain is making its global presence in the world. It has the freest economy in the Middle East and as per reports in Index of Economic Freedom published by The Wall Street Journal ranked Bahrain as the 12th freest economy in the world.

In the last decade, City of London’s global Financial Centres Index ranked Bahrain as the world’s fastest growing financial centre. With the boom in demand of oil, Bahrain’s banking and financial sector has been greatly benefitted from the same with more impetus on the Islamic Banking. Petroleum production and processing is Bahrain’s most exported product, accounting for 60% of export receipts, 70% of government revenues, and 11% of GDP. Aluminium production is the second-most exported product, followed by finance and construction materials.

Moreover, the communication and transport facilities being one of the best in the world, Bahrain is home to number of multinational firms and construction proceeds on several major industrial projects. Also, with the major influx and shift in the geopolitical economic condition, Bahrain entered into the US as a part of Free Trade Agreement reducing certain trade barriers thereby giving more room to the economy.