Shanghai, Export Bahrain, the national export promotion agency, and Alibaba.com, a leading platform for global business-to-business (B2B) e-commerce, announced the signing of a Memorandum of Understanding (MoU) to boost global trade and economic growth in Bahrain.
The MoU signed during the 6th China International Import Exhibition held in Shanghai, will enable Export Bahrain and Alibaba.com to leverage their respective strengths and expertise to facilitate trade, reduce barriers, and enhance market access for Bahraini businesses.
The MoU was the result of extensive discussions held on the sidelines of a high-level trade visit to China by Abdullah bin Adel Fakhro, Bahrain's Minister of Industry and Commerce.
Under the MoU, Export Bahrain and Alibaba.com will work together to:
Facilitate trade and reduce barriers for Bahraini exporters: Alibaba.com will offer special rates and discounts to Bahraini businesses referred by Export Bahrain, helping to reduce the cost barriers associated with onboarding businesses and encourage Bahraini entrepreneurs to explore new markets.
Enhance market access for Bahraini businesses: Alibaba.com will provide training and support to Bahraini suppliers in utilizing e-commerce platforms effectively. This collaboration will involve educational programs, webinars, and workshops to enhance the digital capabilities of Bahraini entrepreneurs, enabling them to effectively navigate Alibaba's platform and leverage its features.
Abdulla bin Adel Fakhro; Minister of Industry and Commerce and Chairman of Export Bahrain said that this MoU is evidence of the commitment to enhancing Bahrain's global trade footprint.
"Alibaba.com's extensive global reach aligns perfectly with our goals to empower Bahraini exporters to expand into international markets. It's a pivotal moment that promises to drive economic prosperity and innovation," he added.
Safa Akhaliq, CEO of Export Bahrain added that this collaboration with Alibaba.com opens new doors for Bahraini businesses, enabling them to harness the potential of e-commerce and reach a global audience.
"We are thrilled to embark on this transformative journey with Alibaba, strengthening our commitment to supporting our local businesses on a global scale," she added.
Andrew Zhang, Vice President and Head of Global Supplier Development of Alibaba.com, expressed their excitement to team up with Export Bahrain to help Bahraini businesses reach a wider global audience and grow their exports.
"Alibaba.com has a strong track record of supporting SMEs to succeed in the global market, and we are confident that this collaboration will be a valuable resource for Bahraini businesses," Zhang added.
Source: Bahrain News Agency