Russia and Kingdom of Bahrain Hold First Ever Investment and Trade Meeting

Posted: December 16, 2014 in Econ 101, Free Trade

SOURCE:  http://www.bna.bh/portal/en/news/645695

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Russia, GCC Businessmen hold B2B meetings
14/12/2014

Manama, Dec. 14. (BNA) — Businessmen representing various sectors in Russia and GCC countries discussed ways to strengthen industrial and commercial trade. The meetings were held as part of the first “Russia-GCC Trade and Industrial Dialogue” hosted in the Kingdom of Bahrain from December 14 to 15, at the Ritz-Carlton, Bahrain Hotel and Spa.
The event was attended by key officials and business representatives from Russia and the GCC states, and witnessed a number of B2B meetings to discuss investment opportunities and cooperation in the sectors of infrastructure, development projects, manufacturing, agriculture, energy and Islamic finance. It also featured discussions for business collaboration between both nations through the establishment of partnerships and joint initiatives as well as increasing business visits.

During the event a meeting was held between HE Kamal bin Ahmed and Mr. Denis Manturov, Minister of Trade and Industry of the Russian Federation. The meeting included discussions on opportunities to strengthen trade and industrial relations between the two countries in various sectors, as well as investment cooperation through joint Bahraini-Russian agreements. Present were HE Zayed Al Zayani, Minister of Industry and Commerce; HE Khalid Almoayed, Chairman of the Bahrain Chamber of Commerce and Industry (BCCI); Mr. Mahmood Al Kooheji, Chief Executive Officer, Mumtalakat and Mr. Valdimir Dmitriev, Chairman, Vneshekonombank.

The “Russia-GCC Trade and Industrial Dialogue” is organised by the Russian Federation’s Ministry of Trade and Industry, and supported by the Economic Development Board (EDB), the Bahrain Chamber of Commerce and Industry (BCCI) and the Federation of GCC Chambers of Commerce.

The event follows a visit by a high-level Bahraini business delegation to Russia in April, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, First Deputy Prime Minister and Chairman of the EDB. The visit paved way for various agreements, which will see greater investment cooperation. It also witnessed Gulf Air, the national carrier of Bahrain, announcing the launch of a new direct route from Moscow to the Kingdom.

Economic relations between Bahrain and Russia have strengthened due to the increasing trade between the two countries. These relations were made stronger with the establishment of the Russia Bahrain Business Council during the historic visit by His Majesty King Hamad to Russia in 2008.

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