ABC Bahrain Strengthens Trade with ASEAN Bloc

by BTM

Tue, 06 February 2024

ABC Bahrain Strengthens Trade with ASEAN Bloc

Chairperson of Bahrain ASEAN Bahrain Council (ABC), Shaikh Daij bin Isa Al Khalifa, recently reiterated that ABC would continue to play a pivotal role in strengthening Bahrain’s trade and business ties with the Association of Southeast Asian Nations (ASEAN) nations, the world’s fifth largest trading bloc. 

“Since the establishment of ABC in 2017, ABC acts as the prime advocacy organisation for Bahraini corporations operating within the dynamic Association of Southeast Asian Nations. It remains pivotal to fostering deeper economic relations between Bahrain and ASEAN nations with a focus on trade and commercial ties,” says Shaikh Daij. 

Ambassador of Indonesia and Chairperson of ASEAN Committee in Manama, HE Ardi Hermawan, highlighted the cooperation between ABC and ASEAN nations and the crucial role played by the committee in strengthening and expanding bilateral relations. “Our total trade in goods was USD3.8 trillion in 2022, comprising exports of USD2 trillion and imports of USD1.9 trillion,” he states. 

“Focusing on ASEAN and GCC Trade Relations in 2022, the total trade value between GCC countries and ASEAN was USD137.7 billion, accounting for 8 percent of the GCC’s total trade exchange worldwide,” he says, adding that the ASEAN-GCC Framework of Cooperation 2024-2028, agreed upon at the first ASEAN-GCC Summit in Riyadh in 2023, will further strengthen ties.