Bahrain, Russia agree to expand cooperation in various fields

Manama (IINA) � Bahrain and Russia expressed their satisfaction with the volume of trade exchange between the two countries during 2016, and affirmed their readiness to strengthen cooperation in the field of banking and finance within a structured trade finance in various sectors.

This came at the close of the first meeting of the Bahraini-Russian Intergovernmental Commission on Trade, Economic, Scientific and Technological Cooperation, co-chaired by Bahraini Minister of Industry, Commerce and Tourism Zayed bin Rashid Al-Zayani and Russian Minister of Industry and Trade Denis Manturov.

The Bahraini side called on the Russian side to make Bahrain a regional logistics center for Russian companies to distribute their products and services, including foods to the Gulf Cooperation Council (GCC) region, said a statement issued by the meeting. The two sides agreed to enhance bilateral cooperation in various commercial, economic, technical and cultural fields between Bahrain and Russian regions (St. Petersburg, North Caucasian Federal District, Stavropol, Chechnya and Ingushetia).

Both sides also agreed to expand mutual cooperation in the energy field, including cooperation opportunities in the area of natural gas, and confirmed the continuity of joint cooperation in various industrial spheres.

Further, they underlined the importance of resolving the issues facing investors in both countries within the framework of the existing bilateral legislation and agreements.

Source: International Islamic News Agency