JERUSALEM: Israel foresees $220 million in non-defense trade with Bahrain in 2021, the Economy Ministry said on Wednesday as it hosted a delegation from the Gulf state to cement newly established ties.
Bahrain and neighbor the United Arab Emirates normalized relations with Israel on Sept. 15, a US-brokered pact motivated by business prospects as well as shared worries about Iran.
Meeting Israeli Prime Minister Benjamin Netanyahu in Jerusalem, Bahrain’s minister for industry, commerce and tourism, Zayed bin Rashid Al-Zayani, said he saw an “immense opportunity to even develop (ties) further, not just in terms of business — in terms of culture, sport, exchange, tourism.”
The Economy Ministry trade forecast anticipated growth in Israeli exports to Bahrain of diamonds and refined metals for chemicals, and of imports of oil and aluminium from Bahrain.
Bahrain and Israel signed a memorandum of understanding (MoU) in the field of tourism on Wednesday.
“Tourism in Bahrain is one of the active sectors endowed with developed infrastructure thanks to the great interest of the government”, Al-Zayani said.
Al-Zayani said the agreement with Israel would contribute to enriching the tourism sector.
Israel’s Minister of Tourism Orit Farkash-Hacohen said that cooperation between the two countries in this field would lead to more prospects for joint work.