Muscat: 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.
According to Bahrain News Agency, 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 agreement aims to support the development of the manufacturing and industrial sectors in both countries by enhancing the capabilities of small and medium enterprises (SMEs) and enabling their expansion into regional and international markets. This initiative is expected to contribute significantly to GDP and bolster commercial and investment cooperation between Bahrain and Oman.
The MoU outlines mechanisms for exchanging vital information related to market research and commercial regulations. It also provides a package of joint services that include organizing official visits, participating in trade exhibitions and conferences, and conducting virtual seminars and specialized workshops. A key provision of the MoU is 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.
Safa Sharif Abdulkhaleq, Chief Executive Officer of Export Bahrain, expressed that the memorandum reflects the strategic partnership between the Kingdom of Bahrain and the Sultanate of Oman, aimed at developing SMEs' capabilities and enhancing their competitiveness in international markets. Halima Al Zar'iya, Chairperson of Oman's SME Development Authority, highlighted the memorandum as a practical step towards achieving economic diversification goals and strengthening the role of SMEs in comprehensive development, while also facilitating knowledge transfer and experience exchange.