Egypt’s Minister of Trade and Industry Nevine Gamea has met with Sameer Abdullah Nass, head of Bahrain Chamber of Commerce and Industry (BCCI), to discuss establishing a direct trade hub between Egypt and Bahrain.
The hub will provide the Bahraini market in particular, along with Gulf Cooperation Council (GCC) markets, in general, with Egyptian agricultural and food products. Other products that will be available through the hub are those that are compatible with the conditions and standards adopted by the GCC.
Nass, who is also head of the Federation of the Gulf Cooperation Council Chambers, highlighted the importance of activating all trade agreements signed between Egypt and Bahrain. These aim to enhance trade exchange and joint investments between the two countries during the next phase.
He added that the BCCI is currently working on developing strategic plans to benefit from these agreements in the fields of food security, agriculture, and agricultural export.
Nass noted that Egypt is has the capability to serve as one of the main sources of products for Gulf markets in terms of food commodities and agricultural products. He expressed his country’s keenness to benefit from Egyptian food and agricultural expertise.
He also said that the BCCI has met with GCC Trade Ministers to identify Gulf food security priorities, in order to develop a joint strategy to provide foodstuffs to the region. This comes particularly in light of the novel coronavirus (COVID-19) pandemic.
Nass also noted the possibility of establishing joint Egyptian-Bahraini projects in the field of pharmaceuticals.
Khaled Hanafi, Secretary General of the Union of Arab Chambers, said that the commercial project between Egypt and Bahrain aims to enhance trade exchange between the two countries and with the rest of the GCC.
Hanafi said that the project will ensure that the benefits of the surplus agricultural and food production in Egypt bridge consumer gaps in the Bahraini and GCC markets.