The Saudi-Bahraini Business Owners Forum has discussed ways to strengthen economic integrations between Bahrain and Saudi Arabia.
According to the statement, the forum intends to boost economic integration by bolstering collaborative cooperation in a variety of industries and opening up new and diversified frontiers for trade, investment, and tourism.
It also considered partnerships in industry and energy, the role of trade agreements in supporting economic integration, and opportunities for integration in the real estate sector.
In addition, the meeting signed a memorandum of understanding for a feasibility study on establishing a multi-disciplinary Saudi-Bahraini holding company. The firm intends at developing commercial, industrial and investment activities and joint investment projects.
During the meeting, Mr. Zayed bin Rashid Al Zayani, Bahrain’s Minister of Industry, Tourism, and Commerce has stressed that the fraternal relations between Bahrain and Saudi Arabia are ‘historic’ and solid, noting the increased representation in the Saudi-Bahraini Joint Coordination Council.
As per the reports, “Mr. Samir Abdullah Nass, the Chairman of the Bahrain Chamber of Commerce and Industry, Mr. Ajlan bin Abdulaziz Al Ajlan, the Chairman of Council of Saudi Chambers of Commerce and Industry, Mr. Abdulrahman bin Saleh Al-Otaishan, the Head of the Saudi side at the Bahrain-Saudi Joint Business Council, and ministers and officials from government agencies and investors of both sides were present.”
Mr. Nass stated that the forum encourages working together to accelerate the pace of economic integration and development. He further noted that economic integration projects aim at the private sector in the first place.
“Bahrain ranks second among the GCC countries in the volume of trade exchange with Saudi Arabia and the ninth partner Among the countries of the world,” remarked Mr. Al Ajlan.
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