Non-oil trade between Saudi and Bahrain surges 43% to $688.4mln

Trade between two kingdoms hit $2.17bln during the first three quarters of 2020

  
Image used for illustrative purpose. In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California.

Image used for illustrative purpose. In this Photo Illustration, Twenty and five dollar bills are displayed on August 29, 2017 in San Anselmo, California.

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Non-oil trade between Saudi Arabia and Bahrain has surged by 43 percent to $688.4 million during Q3 2020 compared to $481 million during the same period last year, thanks to the ease of restrictions imposed in August on cargo transit over the King Fahd Causeway..

Saudi Arabia is one of Bahrain's key trading partners, with majority of imports and exports flowing via the King Fahd Causeway – a 25 kilometre bridge connecting both kingdoms by road.

Bilateral commerce between the two nations surged by 12 percent to $2.17 billion during the first three quarters of 2020, to record a substantial year-on-year increase from the 2019 figure of $1.93 billion, the Bahrain Economic Development Board said in a statement.

Abdulhakim Al Shamary, Board Member of the Bahrain Chamber of Commerce and Industry (BCCI), said: "The King Fahd Causeway acts as an essential link between Bahrain and the wider $1.5 trillion Gulf economy for millions of passengers and commercial trucks each year.

"Despite COVID-19, commercial drivers have still been able to use the bridge enabling critical continuity for the logistics sector”.

With the lowest manufacturing costs in the region, Bahrain is fast becoming the manufacturing and logistics hub of choice for many global manufacturers including Arla, Reckitt Benckiser, Mondelez and Olayan Kimberley-Clark, the statement said.

(Reporting by Seban Scaria; editing by Daniel Luiz)

seban.scaria@refinitiv.com

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© ZAWYA 2020

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