Manama, 16th December 2014:
The Kingdom of Bahrain hosted the first “Russia-GCC Trade and Industrial Dialogue” which was held in Manama from 14th to 15th December and attended by key officials and private sector representatives from Russia and the Gulf Cooperation
Council (GCC).
The
event was organised by the Russian Federation’s Ministry of Trade and
Industry, and supported by the Ministry of Industry and Commerce
in Bahrain (MOIC), the Bahrain Economic Development Board (EDB), the
Bahrain Chamber of Commerce and Industry (BCCI) and the Federation of
GCC Chambers of Commerce. Trade and industry ministers from GCC
countries and Russia, as well as a range of private sector
representatives, participated in sessions which focused on Russian–GCC
business collaboration and investment opportunities in a range of
sectors including infrastructure development projects, manufacturing and
industry, agriculture, energy and Islamic finance.
HE
Kamal bin Ahmed, Minister of Transportation and Telecommunications and
Acting Chief Executive of the Bahrain Economic Development Board
(EDB), participated in a panel session under the title
‘Russian-Arabic
Business Collaboration – New Horizons and Opportunities’. HE
the Minister highlighted Russia’s importance as a trading partner for
the Gulf region, being one of the world’s leading economies. He also
stressed efforts by the GCC and Bahrain to build business ties with a
large range of international markets.
HE
Kamal bin Ahmed emphasised the importance of this forum, which builds
on
earlier visits such as His Majesty King Hamad bin Isa Al Khalifa’s
historical visit to Russia in 2008 and the high level business
delegation to Russia this year led by His Royal
Highness Prince Salman bin Hamad Al Khalifa, the
Crown Prince, First Deputy Prime Minister and Chairman of the EDB, which saw the signing of a number of MoUs between
the two countries.
Speaking at the event, Minister of
Industry
and Commerce, HE Zayed bin Rashed Al Zayani confirmed the importance
and willingness of the government to further develop the Kingdom’s
economic
relations with various countries of the world, noting that according to
UNCTAD, Bahrain attracted 989million US dollars of foreign investment
in 2013, an increase of 11% from the previous year. HE the Minister
highlighted that the relations between Bahrain
and Russia were strengthened following the historic visit of His
Majesty King Hamad bin Isa Al Khalifa and the visit of His Royal
Highness Prince Salman bin Hamad Al Khalifa, the
Crown Prince, First Deputy Prime Minister and Chairman of the EDB.
During the event, a meeting was held between HE Kamal bin Ahmed
and HE Denis Manturov, Minister of Trade and Industry of the Russian
Federation and attended by a number of high level officials. The meeting
included discussions on opportunities to strengthen trade and
industrial relations between the two countries in various
sectors, as well as investment cooperation through joint
Bahraini-Russian agreements.
The
Government of Bahrain also recently announced that it has revised visa
policies for Russian citizens visiting the Kingdom to encourage
business and trade between the two countries, whilst Gulf Air, the
national carrier of Bahrain, announced the launch of a new direct route
from Moscow to the Kingdom.
