Chairman of the Bahrain Chamber of Commerce and Industry, Sameer Nass stated that establishing a joint Bahraini-Saudi company in the construction materials sector would enhance investment cooperation between the two brotherly countries in this vital and important sector, and would also achieve the strategic goals of Bahrain's Economic Vision 2030 and Saudi Vision 2030.
Nass clarified that the Bahraini-Saudi Business Council has agreed to form a founding committee from both sides to study the feasibility of establishing the company. He said that this is a qualitative step toward achieving integration and sustainable development between Bahrain and Saudi Arabia, stressing the importance of continuing to develop strategic partnerships and enhancing coordination between the Bahraini and Saudi business councils in both countries.
Nass emphasized the strong brotherly ties and solid relations between the Kingdom of Bahrain and its sister Kingdom of Saudi Arabia, which are based on solid foundations and common positions proven throughout various historical milestones. He explained that the continued holding of the "Bahraini-Saudi" Business Council reflects the ongoing and joint efforts to enhance and develop Bahraini-Saudi relations, moving forward toward the desired integration, in line with the visions and aspirations of His Majesty King Hamad bin Isa Al Khalifa, the King of Bahrain, and his brother, the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, the King of Saudi Arabia, may God protect them.
He mentioned this on the sidelines of his participation in the Saudi-Bahraini Investment Forum, organized by the Economic Development Board and the Saudi Ministry of Investment in collaboration with the Bahraini-Saudi Business Council at the Dhahran Expo in Dammam.
Nass praised the outcomes of the Saudi-Bahraini Business Council meeting, which focused on establishing mechanisms to enhance commercial and investment cooperation between the two brotherly countries, highlighting the importance of supporting aspects of bilateral cooperation, integration, and joint coordination.
He stressed the need to build on what has been achieved to support common goals and meet developmental aspirations in both brotherly countries. Nass highlighted the importance of the role of the joint Saudi-Bahraini Business Council in elevating the size and quality of trade and investment relations, noting that statistics indicate that the trade exchange reached $3.9 billion in 2023. He added that Saudi Arabia is the fifth-largest import partner for Bahrain and the largest export partner, pointing out that the successes achieved are due to the historical and deep-rooted brotherly relations between the two countries, which have remained a shining example of integration and complete harmony under the shared interest and alignment of visions between the leaderships of the two brotherly nations. This has been clearly reflected in their economic and commercial relations.
Nass expressed the commitment of the Bahraini and Saudi private sectors to strengthen the mutual bilateral relations between the business communities in both countries and elevate them to broader horizons, aiming for further integration and connection to achieve shared ambitions and goals. He noted that the Bahrain Chamber believes in the importance of the role played by the joint Business Council in increasing and sustaining the growth of economic relations between the two sister kingdoms and enhancing cooperation between the business sectors in all possible fields, particularly in the construction sector and other promising sectors, especially considering that Saudi Arabia has maintained its position as Bahrain's primary trading partner within the Gulf Cooperation Council (GCC). Saudi Arabia has been Bahrain's primary trading partner, serving as a large economic market for Bahraini private sector products and goods.
AE