Export Bahrain, Bosnia and Herzegovina sign MoUs to boost cooperation

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Manama, Mar. 1 (BNA): Export Bahrain have signed two strategic Memoranda of Understanding (MoU) with ‘Bosnia and Herzegovina Friendship and Business Society’ and ‘Bosna Bank International (BBI)’ to increase business facilitations and providing the essential and integral support for Bahrain-based businesses to access European and global markets.

The agreements seek to foster cooperation and solidify economic, technological, and other resources between Bahrain-based businesses and Bosnia and Herzegovina, as well as highlight and promote Made in Bahrain products and services among regional and international buyers.

The strategic partnerships will serve exporters in Bahrain as a promotional tool and a pathway with opportunities to promote and market their products and services to European markets as well as the exchange of knowledge, expertise, and market regulations between the two nations.

With the new agreements in place, the two parties plan on facilitating trade delegations to host B2B meetings, seminars, webinars, workshops, and trade exhibitions across multiple sectors to support the promotion of Made in Bahrain products and services and ease their access in the European and other global markets.

"The new strategic agreements with ‘Bosnia and Herzegovina Friendship and Business Society’ and ‘Bosna Bank International (BBI)’ will provide valuable trade opportunities for Bahrain-based businesses by easing and facilitating access of their products and services to international buyers from Bosnia and Herzegovina as well as consolidating long-term bilateral economic relations," Export Bahrain Acting Chief Executive Officer Safa Sharif Abdulkhaliq.

"The agreements are in line with Export Bahrain's strategic goals and objectives to promote, nurture and enhance the reachability and accessibility of Made in Bahrain products and services to enter regional and international markets.”

President of Bosnia and Herzegovina Friendship and Business Society Jawad Al Hawaj said they are seeking to create new horizons in terms of work, cooperation, and common interests between the sectors of trade, industry, entrepreneurship, and service providers.

"This agreement with Export Bahrain is a strategic partnership to develop these sectors and enhance trade facilitations between the two countries in various fields between Bahrain-based businesses and European buyers in Bosnia and Herzegovina," he said.

Head of Bosna Bank International VIP Business Club Azra Colic said Bosna Bank International aspires to contribute to increase the rate of commercial transactions between the two nations and to provide a gateway for companies to expand throughout the region.

"Hence, I am delighted with the signing of this new strategic partnership with Export Bahrain which will provide opportunities for business development for Bosnia and Herzegovina, Bosna Bank International, and counterparts in the Kingdom of Bahrain," she said.

Export Bahrain has facilitated local businesses to go global and expand into international markets reporting over $130 million worth of exports with more than 56 different product and service categories across various economic sectors.

Since its inception in November 2018, Export Bahrain has supported products and services that are made in Bahrain reaching more than 57 markets across the GCC, Asia, Africa, Europe, Australia, United Kingdom, and the U.S.