Bahrain EDB signs MoU with Milan chamber
Milan, November 16, 2011
The Bahrain Economic Development Board (EDB) has signed a memorandum of understanding (MoU) with Promos, the international arm of the Chamber of Commerce of Milan, to facilitate commercial and economic ties with the Italian city.
The MoU seeks to improve cooperation and expand on existing ties between members of Promos and the Chamber of Commerce and Industry in Bahrain.
The agreement will also seek to exchange market information and literature on relevant laws and regulations between the two countries to encourage investment and help establish further joint ventures, a statement said.
The MoU was signed during a three-day visit by a senior Bahrain delegation to the Italian city, organised in cooperation with the Chamber of Commerce of Milano and Confidustria, as part of a roadshow organised by the EDB to further strengthen bilateral relationships between the business communities and to highlight opportunities for investment in the kingdom.
Speaking at the signing of the MoU, Shaikh Mohammed bin Essa Al-Khalifa, chief executive of the EDB, said: “We are very pleased to have entered into this strategic agreement with Promos and the Chamber of Commerce of Milan. The MoU represents an opportunity to build on existing commercial cooperation between our two countries, to better understand the opportunities and outlook for investment, to exchange market information and to build further economic ties. We look forward to putting this in to practice.”
The delegation, led by Shaikh Mohammed, and includes representatives from the EDB and the private sector. The delegation will meet local government representatives, business leaders and senior journalists.
President of Promos, Bruno Ermolli, said: “In the wide framework of Euro-Mediterranean market, where Promos has been active for over 15 years Bahrain is strategic as it is a privileged gateway for Italian SMEs to the whole Gulf area. Today's agreement will lay the foundations for a successful collaboration, particularly in health, education, ICT and energy, as well as other areas where Bahraini companies can draw on the expertise of Italian SMEs." - TradeArabia News Service