Kanoo: The Council is a strategic platform to enhance economic partnerships and expand trade and investment cooperation with Saudi Arabia

– The Bahrain Chamber reconstitutes the Bahraini side in the joint Bahraini-Saudi Business Council

– The Bahrain Chamber stresses the importance of activating the joint economic councils to support the interests of the Bahraini private sector

The Bahrain Chamber of Commerce and Industry announced the restructuring of the Bahraini side in the joint Bahraini-Saudi Business Council, as part of its efforts to enhance the role of the Bahraini private sector in the joint economic councils, and expand channels of communication with economic partners in brotherly and friendly countries, in a way that serves the interests of the Bahraini business community and enhances its presence in various markets.

The Bahraini side in the Council is headed by His Excellency Mr. Nabil Khaled Kanoo, President of the Bahrain Chamber of Commerce and Industry, who stressed that the restructuring of the Council comes based on the importance of the economic and strategic relations linking the Kingdom of Bahrain and the Kingdom of Saudi Arabia, and the continuous development it is witnessing at various levels, in light of the established ties and continuous coordination between the two brotherly countries in various fields.

Kanoo pointed out that the Joint Bahraini-Saudi Business Council represents one of the important mechanisms to enhance direct communication between business owners in the two countries, exchange information and experiences, and discuss available investment and commercial opportunities, which contributes to supporting economic cooperation and expanding areas of partnership between private sector institutions on both sides.

He explained that the importance of the Council also stems from the economic position represented by the Kingdom of Saudi Arabia as the first trading partner of the Kingdom of Bahrain and one of the most important strategic markets for the Bahraini private sector, in light of the continuous growth and development witnessed by the economic relations between the two countries, and the promising opportunities it provides to enhance mutual investments and expand areas of cooperation and partnership between the business communities of the two brotherly countries.

He added that the Council plays an important role in studying joint integrative projects, encouraging the establishment of economic partnerships and alliances between Bahraini and Saudi companies, exploring promising opportunities in various sectors, in addition to monitoring the challenges facing the private sector and submitting the necessary recommendations and proposals to address them, in a way that contributes to enhancing the flow of business and supporting the goals of Gulf economic integration.

Kanoo stressed that the work of the Council begins in light of the qualitative development witnessed by Bahraini-Saudi cooperation supported by the Saudi-Bahraini Coordination Council, which represents the supreme strategic framework for cooperation between the two brotherly countries, headed by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, may God protect him, and his brother His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of the sisterly Kingdom of Saudi Arabia, in a way that enhances opportunities for economic integration and opens the way for more partnerships and initiatives. shared between the private sectors in the two countries.

He pointed out that the next stage will witness a focus on activating the Council’s role more by organizing bilateral meetings, economic forums and mutual visits, enhancing communication between companies and institutions in the two countries, discussing promising investment and trade opportunities, following up on topics of common interest, and making recommendations that contribute to supporting the business environment and facilitating the movement of trade and investment between the two sides.

Kanoo stressed that the Joint Bahraini-Saudi Business Council represents one of the important pillars of supporting economic relations between the two brotherly countries, stressing the keenness of the Bahrain Chamber of Commerce and Industry to enable the Council to perform its role optimally in a way that contributes to transforming the available economic opportunities into practical projects and partnerships, enhancing the private sector’s contribution to economic development and supporting the common interests of the business communities in the Kingdom of Bahrain and the Kingdom of Saudi Arabia.