Bahrain and Saudi Arabia agreed to hold a feasibility study for establishing a Bahraini-Saudi multi-industry holding company.
The agreement was reached on the sidelines of the second meeting of the Saudi-Bahraini Coordination Council in Bahrain’s Sakhir Palace, co-chaired by Bahraini Crown Prince and Prime Minister Salman bin Hamad Al Khalifa and visiting Saudi Crown Prince, Deputy Prime Minister, and Defense Minister Mohammed bin Salman.
It was signed on Thursday by the Chairman of the Federation of Saudi Chambers of Commerce Ajlan Al-Ajlan and the Bahrain Chamber of Industry and Commerce president, Samir bin Abdullah Nass.
Nass said the forum, which comes in light of the launch of plans and initiatives to boost the economy after the coronavirus pandemic, prompts working together to accelerate the pace of economic integration and development.
He noted that economic integration projects aim at the private sector in the first place.
Al Ajlan said: “The trade exchange between Bahrain and Saudi amounted to about 24.4 billion riyals in 2020, and Saudi exports to Bahrain represented 71.4% of the total exchange, reaching 17.4 bn Saudi riyals.”
Bahrain, he said, ranks second among the GCC countries in the volume of trade exchange with Saudi Arabia and the ninth partner Among the countries of the world.
