Bahrain and Israel have discussed investment cooperation opportunities within the framework of developing economic relations between the two countries.
The Bahrain News Agency said that Zayed bin Rashid Al-Zayani, the Bahraini Minister of Industry, Commerce and Tourism, met with Eitan Na’eh, Israel’s ambassador to Manama, to enhance opportunities for investment cooperation between the two sides.
The agency stated that during the meeting, Al-Zayani touched on the economic developments taking place in the relations between Bahrain and Israel, after the normalization of relations.
Al-Zayani stressed that his country will open the door to trade exchange and enhance opportunities for investment cooperation between the two sides.
During the meeting, aspects of cooperation and joint work were reviewed, which will positively affect the economies of both parties, especially in the commercial, industrial and tourism sectors.
The two sides affirmed that the region will witness a major boom in various economic sectors. This will result in an increase in trade exchange, attracting joint foreign investments, and looking forward to more cooperation between the private sector in the two countries.
In mid-September 2020, the UAE and Bahrain signed agreements to normalize relations with Israel, in an official ceremony hosted by the White House.
The two countries also signed a series of joint cooperation agreements in various fields, including economy, energy, health, environment and technology.
Bahrain and Russia
In a separate context, foreign trade between Bahrain and Russia fell by 5% last year 2020, compared to its volume in 2019.
According to Bahraini media, the volume of foreign trade between Bahrain and Russia amounted to $40 million at the end of last year, compared to $43 million in 2019.
Bahrain also recorded a Russian trade deficit of $17 million in 2020, compared to a deficit of $24 million in 2019.
Bahrain’s imports from Russia declined to $29 million in 2020, compared to $33 million in imports in 2019, a decrease of 12.80%.
The kingdom’s exports to Russia increased to $11.74 million in 2020, compared to exports of $9.5 million in 2019.
The head of the Russian Federation Council, Valentina Matviyenko, said recently that the King of Bahrain, Hamad bin Isa bin Salman Al Khalifa, wants to visit Russia, expecting Russian President Vladimir Putin to visit the Arab region.
Matviyenko, who visited Bahrain on an official visit earlier, said after a telephone conversation with the King that the latter made it clear that he had seen the Russian President’s message, confirming the close relations he had with President Putin.