Export Bahrain, SME Development Authority in Oman sign MoU
Manama, June 4 (BNA): As part of the official visit by Abdullah bin Adel Fakhro, Minister of Industry and Commerce and Chairman of Export Bahrain, to Oman, a Memorandum of Understanding (MoU) was signed between Export Bahrain and the Small and Medium Enterprise Development Authority in Oman.
The signing took place in the presence of Abdullah bin Adel Fakhro, and Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion of Oman.
The MoU was signed on behalf of Bahrain by Safa Sharif Abdulkhaleq, Chief Executive Officer of Export Bahrain, and on behalf of Oman by Mazin bin Saif Al Busaidi, Deputy Chairman of Oman’s SME Development Authority (Riyada).
The MoU aims to support the development of the manufacturing and industrial sectors in the two sister countries by developing the capabilities of small and medium enterprises (SMEs) and enabling their expansion into regional and international markets. This will enhance their contribution to GDP and support the broadening of commercial and investment cooperation between Bahrain and Oman.
The MoU also establishes mechanisms for exchanging relevant information related to market research and commercial regulations, in addition to providing a package of joint services including organizing official visits, participating in trade exhibitions and conferences, and conducting virtual seminars and specialized workshops.
A key provision of the MoU stipulates the secondment of experts from Export Bahrain to collaborate with Oman’s SME Development Authority to develop the export ecosystem and support enterprise development programs, thereby contributing to building competitive capabilities of SMEs in both countries and enabling their expansion into regional and international markets.
“This memorandum reflects the strategic partnership between the Kingdom of Bahrain and the Sultanate of Oman, through which we seek to open new horizons to develop the capabilities of small and medium enterprises and enhance their competitiveness in international markets, contributing to supporting the national economy and increasing income diversification” Safa Sharif Abdulkhaleq, Chief Executive Officer of Export Bahrain, said.
“The signing of this memorandum with our partners in the Kingdom of Bahrain is a practical step towards achieving economic diversification goals and strengthening the role of SMEs in comprehensive development. We are confident that this cooperation will open new horizons for knowledge transfer and experience exchange and support Oman’s efforts to build a competitive export ecosystem” Halima Al Zar’iya, Chairperson of Oman’s SME Development Authority, commented.
