The non-oil trade between Saudi Arabia and Bahrain increased 43% to $688.4 million during the third quarter of 2020 compared to $481 million during Q3 of 2019. The surge in trade between both countries comes following the ease of restrictions on cargo transit over the King Fahd Causeway back in August.
Bi-lateral commerce between the two nations surged 12% past the $2 billion mark during the first three quarters of 2020 to record a substantial year-on-year increase from the 2019 figure of $1.93 billion.
Saudi Arabia is one of Bahrain’s key trading partners, with majority of imports and exports flowing via the King Fahd Causeway – a 25-kilometre bridge connecting both Kingdoms by road.
It was also recently announced that Bahrain Customs has installed high-tech artificial intelligence scanners at the King Fahd Causeway, automating data collection and allowing shipment inspections to take place before reaching the border.
With the lowest manufacturing costs in the region, Bahrain is fast becoming the manufacturing and logistics hub of choice for many global manufacturers including Arla, Reckitt Benckiser, Mondelez and Olayan Kimberley-Clark.
“The King Fahd Causeway acts as an essential link between Bahrain and the wider $1.5 trillion Gulf economy for millions of passengers and commercial trucks each year,” says Abdulhakim Al Shamary, board member of the Bahrain Chamber of Commerce and Industry (BCCI).
“Despite COVID-19, commercial drivers have still been able to use the bridge enabling critical continuity for the logistics sector,” he adds.
The Bahrain Economic Development Board (EDB) is an investment promotion agency with overall responsibility for attracting investment into the Kingdom and supporting initiatives that enhance the investment climate.
The EDB works with the government and both current and prospective investors, in order to ensure that Bahrain’s investment climate is attractive, to communicate the key strengths, and to identify where opportunities exist for further economic growth through investment.
Words by Farimah Moeini, Snapchat Head of Industry – Retail and Travel TheJuly 5, 2021 | By RetailME Bureau
Snapchat has been betting big on Augmented Reality’s (AR) retail future consideringJune 22, 2021 | By Jibran Chouguley
Union Coop, a consumer cooperative in the UAE, revealed that 78% of
Union Coop has opened its 23rd branch within the UAE in Jumeirah
Nando’s has revealed their revamped Sheikh Zayed Road outlet where newcomers and
UAE-based Al Maya Group announced that it will be boosting import of
UAE-based grocery retail chain, Grandiose has opened its first hypermarket in Abu
UAE-based Carrefour announced its theme and plans for Ramadan 2021. The brand
Locally owned supermarket Spinneys celebrates 60 years of doing business in the
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
A Concept by MUSE, a new homegrown retail destination by Chalhoub Group,
UAE-based Majid Al Futtaim has announced the expansion of its people development
Direct-to-Consumer (D2C), Digitally Native Vertical Brands (DNVB), and brand.com serve as different
Furniture retailer Home Box has opened its first-of-a-kind retail outlet in the
Giordano has announced the opening of its first concept store at Zahia
Carrefour has rolled out several sustainable initiatives through partnerships with CHEP and
Gentle Monster has announced the opening of the brand’s second flagship store in
Log files, excel spreadsheets with point-of-sale figures, hierarchies, and inventory data are
Retailers today are seen to be taking pride in calling themselves a
Every element of the retail landscape has been forced to undergo drastic
Words by Ayman Beydoun, Chief Operating Officer, BFL Group Within the global
UAE-based Majid Al Futtaim has opened the region’s first AI-powered check-out free