Bahrain - As part of the official visit by Industry and Commerce Minister and Export Bahrain chairman Abdulla bin Adel Fakhro 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 Mr Fakhro and Oman’s Minister of Commerce, Industry and Investment Promotion Qais bin Mohammed Al Yousef.

The MoU was signed on behalf of Bahrain by Export Bahrain CEO Safa Abdulkhaleq and on behalf of Oman by SME Development Authority (Riyada) deputy chairman Mazin bin Saif Al Busaidi.

The MoU aims to support the growth of the manufacturing and industrial sectors in the two 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 organising official visits, participating in trade exhibitions and conferences, and conducting virtual seminars and specialised 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 programmes, thereby contributing to building competitive capabilities of SMEs in both countries and enabling their expansion into regional and international markets.

On the occasion, Ms Abdulkhaleq stated: “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.”

Meanwhile, Halima Al Zar’iya, chairperson of Oman’s SME Development Authority, commented: “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.”

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