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Bahrain and Monaco pledge to deepen economic co-operation
Bahrain and Monaco pledged to deepen economic co-operation and explore joint ventures in digital transformation, following a meeting between business leaders from both nations.
A two-day visit by a high-level Monaco delegation, led by Secretary of Attractiveness, Development and Digital Frédéric Genta, culminated in a meeting hosted by Bahrain Chamber (BCCI).
Bahrain Chamber chairman Sameer Nass welcomed the delegation and underscored the importance of fostering business partnerships and knowledge sharing to drive economic growth in both countries. He noted a significant 71 per cent increase in trade volume between Bahrain and Monaco from 2022 to 2023.
“The digital transformation sector is one of great interest to both countries,” Mr Nass said, highlighting the BCCI’s role in collaborating with the government to enhance economic activity and partnerships.
A fireside chat titled ‘A Dialogue on Common Synergies and Co-Investment Opportunities’ explored potential collaborations. Bahrain Chamber’s first vice-chairman Khalid Najibi presented the kingdom’s economic landscape and its advantages for foreign investors.
Mr Najibi identified key areas of mutual interest, including developing cybersecurity standards for robust digital infrastructure. He emphasised Bahrain’s potential as a gateway for Monaco companies seeking access to regional markets.
Mr Genta echoed the desire for closer ties, stating that both nations share common goals of transforming key sectors like tourism, finance, and technology.
He stressed the importance of attracting talent and investment to drive these transformations, alongside boosting international recognition.
“Monaco and Bahrain must continue diversifying their economies to become central hubs in Europe and the Middle East,” Mr Genta said.
Both sides acknowledged the potential for reciprocal investment and talent exchange. Mr Genta underlined the opportunities for Monaco businesses in the growing GCC market, with Bahrain serving as a potential launchpad.
The meeting marks a significant step towards strengthening economic ties between Bahrain and Monaco, with both parties committed to exploring new avenues for collaboration in the digital age.
Source: https://www.gdnonline.com/Details/1310661
