Export Bahrain, CIPE sign MoU

Manama, Nov. 14 (BNA): Export Bahrain signed a Memorandum of Understanding (MoU) with Center for International Private Enterprise (CIPE) to foster the growth of Bahraini micro, small and medium enterprises (MSMEs) through the Economic Diversification and Access to Finance in Bahrain project. The signing of this MoU is a recognition of the cooperation between Export Bahrain and US-Based CIPE to support MSMEs in the Kingdom and empower the private sector to lead inclusive and sustainable growth. The Economic Diversification and Access to Finance in Bahrain project was launched last year by the CIPE in collaboration with Tenmou, a Bahraini tech-focused Angel investor and ecosystem builder. Export Bahrain offers ongoing commitment towards the project, as its services provide tangible paths to growth for MSMEs. Furthermore, Export Bahrain plays an integral role in increasing awareness and utilization of the US Bahrain Free Trade Agreement (FTA). A series of commercial dialogue sessions between Bahraini and US companies encourages Bahrain-based exporters to extend their reach in the United States market. "Forming strategic partnerships to build a stronger and a diversified economic future, all while assisting businesses based in Bahrain is what drives our operations at Export Bahrain," Export Bahrain Executive Director Fatima Aziz Rostam said. "We are honored to play our part in this agreement by offering MSMEs more export solutions, growth services and investor education, that are necessary to their expansion." CIPE’s Managing Director for Programs Abdulwahab Al Kebsi said CIPE is proud to support the role of startups and MSMEs in diversifying and growing the Bahraini economy. "The services that Export Bahrain provides to the community are a key to unlocking the enormous growth potential of the private sector. We look forward to strengthening our cooperation with Export Bahrain," he said.