Bahrain’s Ministry of Industry, Commerce and Tourism has announced the start of construction of the United States Trade Zone, located in Salman Industrial City.
The laying of the foundation stone falls within the package of investment and strategic projects announced as part of the Industrial Sector Strategy 2022-2026, a statement said.
The project is also part of the economic recovery plan as it seeks to enhance economic, commercial and industrial cooperation and boost bilateral trade drive between Bahrain and the United States following the impact of the coronavirus pandemic.
The United States Trade Zone, as per a memorandum of understanding signed last year, will be spread initially over 110,000 sq m, expanding to 1.11 million sq m in the future.
The foundation stone ceremony was attended by Zayed bin Rashid Al Zayani, Minister of Industry, Commerce and Tourism, US Ambassador to Bahrain Steven C Bondy, members of the Bahrain Logistics Council and senior officials.
The United States Trade Zone project follows the visit of Prince Salman bin Hamad Al Khalifa, Bahrain Crown Prince and Prime Minister, to the US in November 2019.
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Bahrain’s crown prince, Sheikh Salman bin Hamad Al-Khalifa
According to Bahrain News Agency, Bahrain and the US will start promoting the zone as a regional centre for trade, manufacturing, logistics and distribution among American companies in the kingdom and GCC markets beyond.
“The availability of economic opportunities in the region is an ideal opportunity for American companies to invest and expand their business through the American trade zone in Bahrain,” said the minister.
He said that the United States Trade Zone project would usher in broader prospects for joint commercial relations between the two countries.
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