Bahrain Bourse and IDE unite to improve bilateral relations

By Rahul Vaimal, Associate Editor
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Bahrain Bourse IDE MoU
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Bahrain Stock Exchange (Bahrain Bourse) has partnered with the Israel Diamond Exchange (IDE) to seek avenues of mutual interest and joint cooperation among both bodies to develop channels of communication and promote bilateral relationships.

A Memorandum of Understanding (MoU) towards the association was signed by the Bahrain Bourse Chief Executive Officer Shaikh Khalifa bin Ebrahim Al Khalifa and Israel Diamond Exchange (IDE) President Yoram Dvash during Bahrain Industry, Commerce, and Tourism Minister Zayed bin Rashid Al-Zayani’s recent visit to the Israel Diamond Exchange where he was accompanied by Israeli Minister of Regional Cooperation Ofir Akunis.

During the visit, Mr. Al-Zayani was briefed on the role of IDE in the Israeli economy and on its advanced systems and pioneering experiences.

Later, speaking to media on the occasion the Bahraini Minister observed that both Bahrain and Israel possess many elements that help them build a successful economic partnership.

Mr. Al-Zayan remarked that Bahrain seeks to build economic relations with major companies in Israel and to exchange experiences in the commercial and investment sectors that would positively reflect on the economies of the two countries and contribute to achieving shared interests.

While praising the IDE, especially that Israel is one of the world’s major diamond exporting countries, Mr. Al-Zayani stressed the Kingdom’s aspiration to exchange experiences with Israel in this field, amid Bahrain’s interest in hosting more international events and exhibitions related to jewelry.

Under the agreements, the two countries are expected to explore joint initiatives that will create efficient opportunities and exchange knowledge and expertise in the area of commodity-based assets trading.