Export Bahrain, Saudi EXIM join hands

TDT | Manama                  

The Daily Tribune – www.newsofbahrain.com  

Export Bahrain unveiled a partnership agreement with Saudi EXIM to enhance bilateral trade ties and enhance export market.

The agreement involves the development of knowledge sharing capabilities by exchanging market research information, and other related trade regulations.

The collaboration focuses on enhancing non-oil exports taking full advantage of its robust resources and co-financing through partner financial institutes, club deal and syndication projects to be undertaken by enterprises in Bahrain and Saudi Arabia.

Saudi EXIM will provide financing for imports of raw materials purchased by Saudi importers from Bahrain for exports and provide buyer’s credit financing to Bahrain-based buyers for the purchases of Saudi goods.

The joint effort in this regard will allow existing exporters from both countries to have greater support and reach in the region whilst capitalising on new market opportunities through both export domains utilising various gateways enabling export project research and execution.

Safa Sharif A Khaliq Chief Executive Officer said: “We consider this alliance to be a milestone in the export domain as a partnership of this kind enables us to have a stronger export infrastructure that promotes collaborative thinking that enables greater goals to be attained and heights of creative initiatives to come through as a result of our pooled efforts.”

Saad Alkhalb, Chief Executive Officer of Saudi EXIM Bank, said:“Our joint efforts will provide existing and future exporters with solid market assessments accompanied by our range of export support initiatives that promote the anticipated exponential growth of the export sector through a well-rounded bilateral mechanism.”