Manama, Bahrain–Export Bahrain and Hong Kong Trade Development Council (HKTDC) have signed a strategic partnership agreement to strengthen trade ties and create new avenues of opportunity for small and medium-sized enterprises in the Kingdom of Bahrain.
The strategic partnership agreement seeks to foster mutually beneficial trade and economic cooperation. It also establishes a framework for the regular exchange of information regarding business prospects and regulations in Bahrain and Hong Kong.
The signing of this Memorandum of Understanding (MoU) represents a crucial milestone in enhancing bilateral trade and investment relations between the Kingdom of Bahrain and Hong Kong. It is expected to open new doors for enterprises from all sectors in both countries, significantly expanding their growth potential.
Abdulla bin Adel Fakhro, Minister of Industry & Commerce and Chairman of Export Bahrain, said ” This landmark collaboration is a significant leap forward in our mission to expand the horizons for Bahraini SMEs and foster their growth in the global marketplace. By aligning with one of the world’s most vibrant and influential trade hubs, we are unlocking a plethora of new opportunities for our local businesses, enabling them to showcase their potential on an international stage.”
He added: “This partnership is a testament to our commitment to driving economic diversification and empowering Bahraini enterprises with the tools, knowledge, and networks necessary to succeed globally. We are poised to witness an era of unprecedented growth and innovation, as we collectively work towards elevating Bahrain’s position in the global trade ecosystem.”
Daniel Lam, Regional Director, Middle East & Africa, Hong Kong Trade Development Council (HKTDC), said “We look forward to working alongside Export Bahrain to develop a more prosperous business environment, and this MoU is an excellent opportunity to create joint development by establishing more lucrative connections for businesses in Hong Kong and Bahrain.”
The strategic partnership between Export Bahrain and HKDTC signifies a significant boost to trade cooperation, fostering a favorable environment for SMEs in the Kingdom of Bahrain. The collaboration is expected to drive economic growth, expand market access, and promote innovation in both countries.