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Thu 6 Feb 2020 02:20 PM

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Italian Trade Agency signs deal for closer ties with Bahrain

Italian Trade Agency has announced the opening of an office in Bahrain after signing an agreement with the Bahrain Economic Development Board

Italian Trade Agency signs deal for closer ties with Bahrain

The deal was inked on the sidelines of an official delegation visit to Italy, led by Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, and First Deputy Prime Minister.

The Italian Trade Agency has announced the opening of an office in Bahrain after signing an agreement with the Bahrain Economic Development Board (EDB).

The deal was inked on the sidelines of an official delegation visit to Italy, led by Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander, and First Deputy Prime Minister.

The agreement seeks to enhance trading and investment opportunities and cooperation between both countries’ strategic economic sectors, including manufacturing and logistics, financial services, IT, tourism, construction and energy.

The agreement was one of a number worth a total of EUR330 million signed during the Crown Prince’s official visit to the country.

“Italy and Bahrain have longstanding trade and economic ties and this week’s official visit aims to strengthen that relationship by providing a platform for collaboration, partnership, and shared opportunities. That is the spirit in which we sign today’s agreement, which will pave the way for trade and investment cooperation between companies in the Italian Republic and the Kingdom of Bahrain,” said Khalid Humaidan, chief executive of the Bahrain EDB.

Bahrain is currently home to more than 60 Italian commercial enterprises, with the largest concentration of firms in the manufacturing sector.