Russia keen to further strengthen relations with Bahrain’s Mumtalakat: Lavrov

TDT | Manama  

The Daily Tribune – www.newsofbahrain.com

The Russian Direct Investment Fund (RDIF), which is Russia’s sovereign wealth fund, will further enhance ties with the Kingdom’s sovereign wealth fund Mumtalakat, said Russian Foreign Affairs Minister Sergey Lavrov yesterday. Mr Lavrov was speaking at the joint press conference along with Foreign Minister Dr Abdullatif Al Zayani at the Ministry of Foreign Affairs in Manama when he made the statement.

RDIF, Bahrain’s Mumtalakat Holding Company and Russian company Binnopharm Group earlier signed a Memorandum of Understanding (MoU) to establish a new vaccine production facility in the Kingdom to manufacture and distribute the Russian Sputnik V Coronavirus vaccine across the MENA region.

The MoU was signed on the sidelines of the St Petersburg International Economic Forum. In 2014, RDIF and Mumtalakat signed an agreement aimed at strengthening economic and investment cooperation between Russia and Bahrain. RDIF is Russia’s sovereign wealth fund established in 2011 to make equity co-investments, primarily in Russia, alongside reputable international financial and strategic investors. RDIF acts as a catalyst for direct investment in the Russian economy.

Among other things, Mr Lavrov vowed to enhance cooperation with the Kingdom in all areas including economy, culture and education. He said Russia is fast becoming a major education destination for students from Bahrain and expected the number of Bahraini students in Russia to increase in the coming years.

“There will also be more cooperation in science, culture and other areas,” Mr Lavrov said. He said Western countries created a lot of artificial problems by closing their ports to Russian ships, thereby disrupting logistics and financial chains.

“It is up to the Western countries and Kyiv to resolve a growing global food crisis provoked by the conflict in Ukraine.” Mr Lavrov called on Ukraine to de-mine its territorial waters to allow the safe passage of ships through the Black and Azov seas.

“If the problem of de-mining is resolved…Russia’s naval forces will ensure the unhindered passage of these ships into the Mediterranean and onwards to their destinations.” Mr Lavrov called for direct talks between Israelis and Palestinians to solve one of the longest conflicts in the region.

“We talked about the need to renew direct talks between the Palestinians and Israelis,” he said. “We have the legal basis for that and we have the Arab peace initiative that has been supported by the United Nations. “It is now essential to increase the efforts using mediators and facilitators from the Arab states so we can create suitable conditions to renew such dialogue and to continue to look for a two-state solution to this issue.”

Speaking at the joint press conference, Dr Al Zayani highlighted the historic relations between the Kingdom and Russia, stressing the continued development and strengthening of joint coordination for the benefit of two friendly peoples and countries.

The minister also stressed His Majesty’s message of giving priority to dialogue and diplomatic solutions in accordance with the rules of international law to resolve the conflict in Ukraine by peaceful means in support of humanitarian efforts.