Export Bahrain, KOTRA sign cooperation agreement

Seoul, May 21 (BNA): The Bahraini Export Authority, represented by CEO Safa Sharif Akhaliq, held an extensive round of meetings and negotiations with senior officials and Korean companies in various sectors, as part of its unremitting efforts to increase local exports to Asian markets.

The meeting discussed ways to enhance cooperation in the field of increasing trade relations between the two countries.

The meetings were held on the sidelines of the official visit of the high-level Bahraini economic delegation to South Korea, headed by Abdullah bin Adel Fakhro, Minister of Industry and Trade, accompanied by Noor bint Ali Al-Khalif, Minister of Sustainable Development.

Export Bahrain signed a memorandum of understanding with the Korea Trade and Investment Promotion Agency (KOTRA) to encourage the development of trade exchange and trade cooperation between the two countries, which was signed by the CEO of Export Bahrain and YU Jeoung Yeol, President and CEO of KOTRA, in the presence of Abdullah bin Adel Fakhro, Minister of Industry and trade.

Under this agreement, Export Bahrain and KOTRA will jointly exchange information and take advantage of beneficial opportunities on a bilateral level, to act as a gateway between companies in both Bahrain and Korea, enabling the promotion of new business deals through this cooperation.

The partnership will include a range of initiatives including but not limited to the development of events and webinars, trade matching job opportunities as well as trade delegation exchange and networking opportunities.

Export Bahrain has convened with a variety of key stakeholders in the public and private sectors to build and strengthen economic trade relations bilaterally with the aim of opening new doors for businesses from both sides to benefit from as a result of active partnership initiatives.

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On this occasion, Ms. Safaa Sharif Abdul Khaleq, CEO of Export Bahrain commented:

The CEO of Export Bahrain said that Export Bahrain has taken progressive steps in building trade relations that have well-rounded strategic paths for the Bahraini industrial sector to expand by reaching new markets in a measured manner and strengthening trade relations in existing markets.

She explained that the agreement reinforces and confirms the efforts of the two parties to achieve their common interests and develop trade and investment relations that promise to stimulate economic activity in the two countries.

“We consider this strategic partnership an indication of more trade exchange opportunities that guarantee the development of a range of sectors in both countries. This agreement reinforces our joint efforts in developing and advancing our bilateral trade relations and promoting the economy and trade. Trade Relations: Our vision for this strategic partnership between Bahrain Export Company is The Korea Trade and Investment Promotion Agency will serve as a starting point towards enhancing relations and economic opportunities and finding smooth export services and solutions in both countries.”

Jeongi Han, Director of Economic Cooperation at Kotra, said that the partnership signed with Export Bahrain will allow for greater alignment in our cooperation which will improve our strategic relations and enable us to add greater value to our shareholders.

He added, “The partnership will provide new opportunities and initiatives for its development, as our joint efforts have the ability to develop promising and untapped economic opportunities for both countries.”

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