NEW DELHI: Bahrain’s peace and stability are a vital cornerstone for both regional and global security, India’s Prime Minister said yesterday.

“A third of the sea oil trade transits through Bahrain’s territorial waters on a daily basis,” said Dr Manmohan Singh.

He was speaking at official talks with His Majesty King Hamad at Hyderabad Palace – the official Government House.

He commended the King’s leadership, adding that Bahrainis can reach a consensus on the best way to achieve peace and prosperity in their country.

Dr Singh expressed India’s readiness to co-operate with Bahrain to boost trade, investment and technology, adding that dividends will benefit both.

He wished Bahrain’s large trade delegation fruitful talks with Indian companies, reiterating firm commitment to bolster bilateral co-operation.

He said he was confident that the King’s visit would open new horizons for co-operation.

Dr Singh thanked His Majesty for accepting the invitation to visit India for the first time since 1981 – describing the visit as “truly historic”.

“We are so happy that a friend of ours is ruling in Bahrain,” he said, describing the visit as an opportunity to know the King’s vision and discuss partnership.

He said the visit reflects shared commitment to bolster bilateral ties on the basis of joint interests.

“The presence of the Indian expatriate community in Bahrain is a significant link that further cements the already strong relations,” Dr Singh said. He thanked the government and people of Bahrain for supporting and hosting the massive Indian expatriate community, which also contributes to the kingdom’s development through their dedicated work.