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Our Bureau

Chennai , June 25

A team of delegates from the Bahrain Economic Development Board is in the city and will meet an exclusive gathering of select Indian exporters on Monday. The meet, organised by the Exim Bank of India, aims at showcasing Bahrain as an attractive investment destination, Mr K Muthukumaran, General Manager, Exim Bank of India, told Business Line on Sunday.

While the visiting team will make presentations about what Bahrain offers investors in general, the focus will be on attracting investors from the auto components industry, he said.

Bahrain is a low cost producer of aluminium and power both of which are two key inputs in the manufacture of auto components, Mr Muthukumaran said. He pointed out that automobile manufacturers are looking to shift from steel to aluminium, wherever possible. "For example, Maruti Zen uses aluminium engine blocks," he noted.

Also, the Arab kingdom is strategically located, nearer to both the European and US markets. Bahrain also has a free trade agreement with the US— goods produced in Bahrain can enter the US market duty-free.

A similar meet will be held in Pune on June 28, he said.

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