Al-Shammari: Half a billion dollars in the volume of Bahraini exports to South Korea

The Vice Chairman of the Board of Directors of the Bahraini Businessmen Association, Mr. Abdulhakim Ibrahim Al-Shammari, appreciated the signing of the investment promotion and protection agreement between the Kingdom of Bahrain and the Republic of Korea in the Kingdom of Bahrain, which was signed by Sheikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, and on behalf of the Government of the Republic of Korea, Dr. Hoonsang Ko, Ambassador of the Republic Korea to the Kingdom of Bahrain.

Al-Shammari stressed that the investment promotion and protection agreement with the Republic of Korea is an important step in developing bilateral relations, and there is no doubt that the business sector in the Kingdom views this agreement very positively and its expected positive repercussions in the growth and prosperity of trade and economic exchange between the two countries.

Al-Shammari expressed his hope that this agreement will contribute to moving forward in exploring investment opportunities and linking the business sectors of the two friendly countries, discussing opportunities to enhance intra-trade and introducing the capabilities and opportunities available on both sides, especially in light of the trade relations that have witnessed steady growth in recent years. The volume of bilateral trade between the Kingdom of Bahrain and the Republic of Korea amounted to about 653 million US dollars last year, of which Bahraini exports constituted the most important of which were oil and aluminum. And iron, approximately half a billion dollars, and this number is subject to increase during the next stage by taking advantage of the agreement and other relevant steps.

Al-Shammari pointed out that there are many important paths and stations that constituted a major shift in relations between the two countries, including the opening of the Bahraini embassy headquarters in South Korea, and the holding of the sixth economic forum between the two countries, which contributed to openness to promising investment opportunities and building bridges of direct communication between Bahraini business owners and their counterparts. And learn about the investment environment in the Republic of South Korea.

Al-Shammari stated that the Bahraini Businessmen Association praises the close and accelerated steps in relations between the Kingdom of Bahrain and the Republic of South Korea, which culminated in the signing of an agreement to encourage and protect investment with the friendly Republic of Korea, which contributes to providing and developing economic and commercial opportunities, and enhancing commercial and investment activity between the two sides. It also contributes to Attracting more foreign investments in order to enhance the competitiveness of the national economy and make optimal use of the important advantages that countries enjoy in various fields in order to achieve the desired integration, especially in promising sectors.