Bahrain, Russia inter-govt commission meeting held

Manama : The first session of the Russian-Bahrain intergovernmental commission in trade, economic, scientific and technological cooperation held its first meeting at the Ritz-Carlton Hotel yesterday.

Russian Ambassador to the Kingdom of Bahrain Vagif Garaev and Russian economic delegation and a number of officials of the Ministry of Industry, Commerce and Tourism attended the meeting.  

Zayed bin Rashid Al Zayani, Minister of Industry, Commerce and Tourism of the Kingdom of Bahrain headed the Bahraini delegation, and Denis V. Manturov, Minister of Industry and Trade of the Russian Federation headed the Russian delegation in the meeting.

The minister explained the aims of Russia–Bahrain Intergovernmental Commission on trade, economic, scientific and technological cooperation, since the committee’s formation, late last year in Moscow.

He added that this Commission will hopefully play an important role in enhancing and developing ties between our countries, and will contribute to deeper and continuous cooperation in all fields. The minister stressed the importance of the private sector’s role in this Commission, praising the outcomes of both Russian-Bahraini and Bahraini-Russian Business Councils meeting headed by Vladimir Dmitriev and Khalid Almoayed.

Ministers of both sides expressed their satisfaction on the status of bilateral trade and investment and with considerable growth of trade turnover in 2016. In the coming years both the sides will enhance cooperation in the field of banking and finance.

They also agreed to further expand mutual cooperation in the field of energy including cooperation opportunities-in gas sphere, LNG supplies and services.

The co-chairs confirmed mutual interest in continuing cooperation in various industrial fields and noted the results of the third Meeting of the Russian-Bahraini Working Group on cooperation in aluminum sphere on the sidelines of experts’ consultations. 

The ministers also discussed cooperation in agriculture and animal stock-raising as well as in transportation fields

The ministers recognised the importance of resolving issues that investors in both countries may face within the framework of existing legislation and bilateral agreements.