Manama: The Industry and Commerce Minister Dr. Hassan Fakhro applauded the efforts of national companies, institutions, businessmen and investors which help to develop bilateral relations and activate the agreements concluded between Bahrain and Russia.
The Minister commended the great efforts shown by the Russian Ambassador and expressed gratitude to the leadership and government on all effort that had contributed greatly to enhance the mutual relations and achieve the desired results of the historic visit by His Majesty King Hamad to friendly countries.
The Minister expressed these views while chairing the 8th meeting to follow up the results of the visit by His Majesty the King to Russia.
The landmark visit paved the way for signing of memoranda of understandings and agreements in many areas of cooperation and joint action between the Kingdom and Russia.
The meeting was attended by Russian ambassador to the Kingdom Victor Smirnov and a number of BCCI board members, investors and businessmen.
The minister welcomed all ideas and proposals that will develop joint business and enhance the existing relations between the two countries, as well as ways to develop new projects.
The minister noted government keenness to support all the initiatives, whether in the industrial, commercial service, or banking and financial sector, he also referred to the need to accelerate establishing Bahrain-Russian Business Council.
The Minister of Industry and Commerce Dr. Hassan Fakhro said Bahrain welcomes future visit that would maximize the fruitful results of HM King’s visit to Russia and to achieve the desired goals especially in banking and agricultural cooperation and food security in the kingdom.
Then they discussed what has reached of stakeholders of the public and private sectors efforts to reach the desired goals of the historic visits of His Majesty the King to the Russia.
With regard to the financial services sector, the Director of Financial Institutions Supervision at Central Bank of Bahrain Abdulrahman Al Baker told the meeting that the to a number of agreements and memorandums of understanding with some banks in Moscow.
During the meeting, they welcomed cooperation agreement that was signed between Mumtalakat and the Russian side with a budget of $250 million to cooperate in petroleum filed. They also welcomed the visit of Gas Prom Company to Bahrain to discuss investment issues in the gas field.
In regard to agriculture sector, CEO of Nader & Ibrahim sons, Hassan Ibrahim AlAmeer pointing out that his company was currently working in Russia in logistic field as well as re-exporting fruits to Russia by weekly shipments and his trade ties with the Russian side were constantly evolving.
Dr. Fakhro stressed the need to continue follow up all the efforts made by the private sector as well as Russian Embassy in Bahrain which contributes in enhancing mutual relation between the two countries and activating the economic agreements concluded between them.