Export Bahrain has signed a Memorandum of Understanding (MoU) with Small and Medium Enterprise (SME) Development Authority in Oman as part of the official visit by Abdullah bin Adel Fakhro, Minister of Industry and Commerce and Chairman of Export Bahrain, to Oman.
The MoU was signed by Safa Sharif Abdulkhaleq, Chief Executive Officer of Export Bahrain, and Mazin bin Saif Al Busaidi, Deputy Chairman of Oman’s SME Development Authority (Riyada), in the presence of Abdullah bin Adel Fakhro, and Qais bin Mohammed Al Yousef, Minister of Commerce, Industry and Investment Promotion of Oman.
The agreement aims to enhance manufacturing and industrial sectors in Bahrain and Oman, nurturing the capabilities of SMEs and expanding them into regional and international markets. This will boost their GDP contribution and deepen Bahrain-Oman commercial and investment cooperation.
In addition, it includes creating mechanisms for exchanging relevant information on market research and commercial regulations, alongside joint services such as organizing official visits, taking part in trade exhibitions and conferences, and conducting virtual seminars and specialized workshops.
A key element of the MoU involves seconding experts from Export Bahrain to collaborate with SME Development Authority to develop the export ecosystem and support enterprise development programs. This supports the development of SME capabilities in both countries while enabling their expansion into regional and international markets.
“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.”
“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,” added Halima Al Zar’iya, Chairperson of Oman’s SME Development Authority.
