Bahrain’s EDB: Saudi Arabia is Our Biggest Economic Partner

  • Date: 30-Mar-2021
  • Source: Asharq AL-awsat
  • Sector:Economy
  • Country:Bahrain
  • Who else needs to know?

Bahrain’s EDB: Saudi Arabia is Our Biggest Economic Partner

Saudi Arabia is Bahrain's biggest economic partner, announced Ali al-Mudaifa, Executive Director - Investment Origination at the Bahrain Economic Development Board (EDB).

Speaking to Asharq Al-Awsat, Mudaifa said he expects smart technology to reduce waiting times for trucks and increase trade exchange between the two countries.

Mudaifa explained that the use of smart technology in the clearance of transit shipments will effectively enhance the vitality of the logistical services sector between the two countries, and with the rest of the Gulf Cooperation Council (GCC).

He indicated that the Authorized Economic Operator is a major leap for companies and institutions, which signals the significance of the economic cooperation that helped sustain the supply lines during the past year.

This important program will enhance the economic integration between the two kingdoms, according to the director, saying it supports the ongoing trade exchange between Manama and Riyadh.

The Economic Development Board asserted its aims to enhance cooperation and activate the memoranda of understanding signed with the Saudi authorities.

It lauded the efforts of the King Fahd Causeway Authority aiming to increase efficiency in clearing shipments in transit, minimizing waiting time, and reducing the customs clearance period from four hours to 20 minutes.

The King Fahd Causeway Authority inked an MoU