Growing trade ties

His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, and First Deputy Prime Minister, yesterday attended a business reception in Rome, organised by the Bahrain Economic Development Board (EDB) in co-operation with large Italian enterprises, on the sidelines of an official visit to the Italian Republic.

During the reception, HRH the Crown Prince underlined the importance of further strengthening the Kingdom’s economic competitiveness through the adoption of initiatives aimed at enhancing sustainable diversification efforts, in line with Bahrain’s Economic Vision 2030. 

HRH the Crown Prince noted that promoting the capacity for innovation is key to providing favourable conditions for investment opportunities and economic growth, which are the foundations of the Kingdom’s comprehensive development goals, led by HM the King. 

HRH the Crown Prince went on to highlight the Kingdom’s achievements, praising Team Bahrain’s continued efforts supporting Bahrain’s long-term development aimed at delivering a promising future for all Bahraini citizens.

HRH the Crown Prince emphasised the importance of bilateralism as a means to further enhance sustainable development and international cooperation across the economy, adding that strong Bahraini-Italian relations have resulted in the signing of a number of important agreements within the manufacturing, logistics, tourism and commercial sectors.

HRH the Crown Prince went on to praise the EDB’s role in attracting foreign direct investments, through the variety of plans and initiatives organised to showcase investment opportunities within Bahrain.

HRH the Crown Prince then witnessed the signing of a number of agreements between Bahraini and Italian enterprises, worth €330 million.

The Minister of Finance and National Economy, Shaikh Salman bin Khalifa Al Khalifa, took part in an official delegation visit to the Italian Republic, led by HRH the Crown Prince.

During the visit, the minister affirmed that the delegation will seek to broaden Bahraini business relations beyond traditional areas and deepen the engagement of Bahrain’s private sector with the global market.

The minister welcomed the wide-range of agreements signed between the private sectors of both countries, worth EUR 330 million, noting that economic ties form a key pillar for Bahraini-Italian cooperation, which continues to grow as trade between the two countries reaches new heights.

He took time to highlight the strength of the Kingdom’s national economy, noting that ongoing diversification efforts have increased productivity and competitiveness while creating quality opportunities, in line with the principles enshrined in Bahrain's Economic Vision 2030. 

The minister concluded by underscoring innovative Bahraini entrepreneurship activities that continue to reshape the economy and accelerate technological advancement.