Manama: Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, underscored the importance Russia places on strengthening economic and trade relations with the Kingdom of Bahrain. His remarks came during a visit to Bahrain ahead of Bahrain's participation as Guest of Honour at the upcoming St. Petersburg International Economic Forum (SPIEF) this June.
According to Bahrain News Agency, the minister said the visit aims to coordinate preparations for Bahrain's involvement in the forum, which he described as a key opportunity to deepen bilateral cooperation and explore new avenues for strategic partnership. He commended the growing relations between the two countries, particularly following the historic visit by His Majesty King Hamad bin Isa Al Khalifa to Russia last year, describing it as a pivotal moment in bilateral ties.
Minister Reshetnikov revealed that bilateral trade grew by 15% in Q1 2025, and expressed Russia's interest in expanding trade further, especially in agriculture, food products, pharmaceuticals, and specialised energy and oil equipment. He highlighted Bahrain's strategic position as a gateway to the Gulf, Middle East, Asia, and Africa, and commended the Kingdom's investor-friendly environment and its flexible approach to international partnerships.
On investment cooperation, he noted the success of collaboration between the Russian Direct Investment Fund (RDIF) and Bahrain's Mumtalakat Holding Company, viewing it as a solid foundation for expanding direct industrial investment in the future. In tourism, the minister noted the significant potential, describing Bahrain as an attractive and competitively priced destination compared to others in the region.
Regarding Russia-GCC ties, he highlighted that the GCC, including Bahrain, is a key strategic partner for Russia, commended Bahrain's role in supporting global energy market stability and its shift towards renewables and sustainable development. He concluded by inviting Bahraini business leaders and investors to explore promising opportunities in Russia, emphasising that Russia welcomes investment from around the world and sees strong potential for joint industrial and technology ventures that can support shared economic growth.