Bahrain-Russia economic cooperation hailed

The overall volume of trade exchanges between Bahrain and Russia has so far soared by 292 per cent (292%) to exceed $60 million, up from $15.3 million over the past two years.

“Trade exchanges are expected to continue growing to reach $70 million, boosted by Bahrain’s exports of aluminum and petrochemicals”, said Russian Ambassador Vagif Garaev.

He made the statement to Bahrain News Agency (BNA) on the sidelines of the opening of an office representing the INTRATOOL Group in Al-Seef Group.

He stressed steadily-growing economic and trade cooperation between Manama and Moscow, hailing deep-rooted historic ties binding Bahrain and Russia.

He expressed the hope that Bahrain’s exports to Russia expand steadily to include more industries and local products, other than aluminum and petrochemicals and oil byproducts.

He said that 5 to 6 Russian companies have the desire to enter Bahrain’s market in several economic sectors. He underlined the possibility of attracting more Russian firms to Bahrain to choose the Kingdom as a gateway to the Gulf Cooperation Council (GCC) states and the Middle East.

Source: BNA