MANAMA: The Kingdom of Bahrain serves as a gateway to the $1.5 trillion GCC economy for the Russian companies, according to the Minister.
“Bahrain’s strategic location, friendly investment climate and allowing 100% foreign businesses remain a key for Russian companies to setup their businesses here and reach the rest of the GCC market,” Kamal bin Ahmed, Minister of Transportation and Telecommunications and Acting Chief Executive of Bahrain Economic Development Board (EDB) told the Russian delegation on Sunday.
During Bahrain-Russia Ministerial level bilateral meeting on the sidelines of the 1st two day forum and exhibition on Trade and industrial dialogue Russia – Gulf Cooperation Council which opened on Sunday the Minister said the Gulf economies in general and Bahrain’s in particular offer a rare opportunity to Russian public and private sector to seize the opportunity.
The meeting was also addressed by Denis Manturov, Russia’s Minister of Industry and Trade and his Bahraini counterpart Zayed Rashid Al-Zayani Minister of Industry and Commerce.
“Russia is looking towards emerging economies like Gulf and this Forum serves as a right platform for discussing and exploring the avenues of future co-operation in this regard,” Denis Manturov, Russia’s Minister of Industry and Trade, said.
Zayed Rashid Al-Zayani Minister of Industry and Commerce Bahrain highlighted the importance of the growing cooperation between the two countries especially among the private sectors.
The event is organised by the Ministry of Trade and Industry for the Russian Federation and supported by the Ministry of Economic Development of Russia, the Ministry of Foreign Affairs of Russia, Russian-Bahraini Business Council, and the Bahrain Economic Development Board (EDB).
The Forum is aimed at expanding and diversifying trade and economic cooperation of Russia with the member countries of the Gulf Cooperation Council (GCC).
The Business Programme of this Forum-Exhibition includes the official meeting of the ministers responsible for industry and trade of Russia and the Gulf Countries: Kingdom of Bahrain, United Arab Emirates, The Kingdom of Saudi Arabia, Sultanate of Oman, State of Kuwait, State of Qatar; The main plenary session led by Denis Manturov, Russia’s Minister of Industry and Trade and Zayed Rashid Al-Zayani, Bahrain Minister of Industry and Commerce; working groups will conduct business-to-business meetings. The meetings will cover the banking; investments; development projects; innovations in shipbuilding; agricultural machinery; innovations in the medicine and cooperation and united projects in Oil and gas industry.
Russian business will be represented by the delegation of over 60 people including the business leaders of the biggest companies and banks such as Victor Zubkov, Chairman of Gazprom; Vladimir Dmitriev, Chairman of Vnesheconombank; Mikhail Pogosyan, CEO, United Aircraft Corporation; Oleg Sienko, CEO, UralVagonZavod; Kirill Dmitriev, CEO, Russian Direct Investment Fund.
Bahrain’s political and business elites will be represented by Dr. Abdulhussain bin Ali Mirza, Minister of Energy, Kingdom of Bahrain; Kamal bin Ahmed, Minister of Transportation and Telecommunications and Acting Chief Executive of Bahrain Economic Development Board (EDB); Mahmood Hashim Al Kooheji, CEO, Mumtalakat.