Saudi-Bahrain forum calls for promoting economic integration

During his opening speech, Zayed bin Rashid Al Zayani, the Minister of Industry, Tourism and Commerce, stressed that the fraternal relations between Bahrain and Saudi Arabia are ‘historic’ and solid, citing the increased representation in the Saudi-Bahraini Joint Coordination Council.

Samir Abdullah Nass, the Chairman of the Bahrain Chamber of Commerce and Industry, Ajlan bin Abdulaziz Al-Ajlan, the Chairman of Council of Saudi Chambers of Commerce and Industry, 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.

Nass said the forum, which comes in light of the launch of plans and initiatives to boost the economy after the Corona pandemic, prompts working together to accelerate the pace of economic integration and development.

He noted that economic integration projects aim at the private sector in the first place.

Al Ajlan said, “The trade exchange between Bahrain and Saudi amounted to about 24.4 billion riyals in 2020, and Saudi exports to Bahrain represented 71.4% of the total exchange, reaching 17.4 bn Saudi riyals.”

Bahrain, he said, 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.

Al-Otaishan stressed the importance of investing in the Kingdom and expanding cooperation in trade.

On the sidelines of the forum, Economic Development Board gave a visual presentation on investment opportunities in Bahrain.

The forum included two dialogue sessions.

The first was on Partnership in Industry and Energy, and the second was on integration in the real estate sector