EXPORT BAHRAIN AND SAUDI EXIM SIGN PARTNERSHIP AGREEMENT Partnership set to explore opportunities within the Regional Export Market

Export Bahrain unveiled its latest progressive partnership agreement with Saudi EXIM in an initiative to enhance bilateral ties in the export sphere whilst further exploring growth opportunities for both parties. The cooperation of Export Bahrain and Saudi EXIM entails various initiatives that will enhance their export market growth capacity.

The agreement involves the development of knowledge sharing capabilities through the vast resources available to both Export Bahrain and Saudi EXIM by exchanging market research information, and other related trade regulations in both respective countries. Export Bahrain looks forward to amplifying efforts to engage with businesses and continue to provide an ideal environment for export ventures through its human capital expertise. The collaboration addresses a key component within the shared vision between the Kingdom of Bahrain and KSA to enhance non-oil exports taking full advantage of its robust resources. The partnership is set to involve co-financing through partner financial institutes, club deal and syndication projects to be undertaken by enterprises in Bahrain and Saudi Arabia which will aid the scope of export market reach, effectiveness and export project fulfilment. Through the partnership Saudi EXIM will provide financing for imports of raw materials purchased by Saudi importers from Bahrain for the purpose of exports and similarly provide buyer’s credit financing to Bahrain-based buyers for the purchases of Saudi goods.

This initiative enables businesses to embark on opportunities in the export market with greater confidence and with concrete research to support their ventures. Both parties will endeavour to synergistically support the development of new business ties and exploration of opportunities between entities within both countries to boost export capabilities. 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.

Commenting on the occasion, Safa Sharif A Khaliq Chief Executive Officer said:

“Export Bahrain is proud to announce its latest partnership with Saudi EXIM; As global demand trends are on the rise, effective partnerships are key to ensuring sustainable growth is met in a calculated manner that enhances the export sector. We have embarked upon numerous progressive initiatives both regionally and globally that continue to present the creativity and prosperity the region is capable of delivering. 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.”

Eng. Saad Alkhalb, Chief Executive Officer of Saudi EXIM Bank, commented:

“Saudi EXIM is pleased to partner with Export Bahrain as the Kingdom of Bahrain has always invested in the growth of their dynamic commerce industry that continues to deliver an exceptionally attractive business environment that promotes trade endeavours for local businesses and foreign investors. We are keen on delivering valuable insights within the export market alongside Export Bahrain to unveil opportunities available to both Saudi and Bahraini investors. 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.”