The Russia-Bahrain Business Council
Vnesheconombank has been chairing the Russian-Bahraini Business Council (RBBC) since 2007. During this period, 9 sessions and 5 meetings between the Chairmen of RBBC and of the Bahrain-Russia Business Council (BRBC) have been held.
The Bank sees its role in expanding trade ties with Bahrain, providing aid to Russian companies in joint investment projects and attracting finance to the domestic economy. To this end, during His Majesty King of the Kingdom of Bahrain Hamad Bin Isa Al Khalifa’s visit to the Russian Federation in December of 2008, Vnesheconombank and the Bahrain Development Bank (BDB) signed a Memorandum of Understanding and Cooperation, the first Russian-Bahraini financial agreement aimed at boosting trade between the two countries and supporting SMEs. The Memorandum has, therefore, defined the framework for developing contacts with BDB.
Regular meetings between the Business Councils of the two countries encouraged a more intense exchange of information on the demand for exported/imported products and the proposed initiatives. On its part, RBBC has been exploring new opportunities to support Russian industrial exports.
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