During the first three quarters of 2020, the bilateral commerce between both nations in tandem has surged ahead 12 percent to reach past $2Billion mark. Despite the current Coronavirus scare, the bilateral commerce trade within Non-Oil or private businesses between Saudi Arabia as well as Bahrain has surged ahead 43 percent to $688.4 million within third quarter during 2020 as comparatively to $481 Million during the third quarter of 2019.
This surge in the private trade between both nations has largely been attributed to the flexibility done within restrictions that were imposed during August over cargo transfer over the King Fahd Causeway.
The Bahrain Economic Development Board stated on in a statement that “the Bilateral commerce between both the nations has risen steeply at 12 percent to reach $2.17 Billion within first three quarters of 2020, recording a huge year-on-year surge from the 2019 figure of $1.93 Billion.
The majority of flow of imports as well as exports flows via King Fahd Causeway-a 25 Km bridge connecting both kingdoms via road as the Kingdom of Saudi Arabia remains strategically as one of the Bahrain’s core trade partner.
There was a recent announcement done that the Bahrain’s customs have already deployed a high-tech artificial intelligence scanner within the King Fahd Causeway, for the automation of data collection as well as providing direct access for shipment inspections for it to be completed before any goods reach the borders.
The Board member of the Bahrain Chamber of Commerce as well as Industry (BCCI) Abdulhakim Al Shamary stated that “the cross-border bridge The King Fahd Causeway acts as the most core link between the Bahrain kingdom as well as the broader $1.5 trillion Gulf economy that supports a safe trade passage for millions of passengers as well as commercial trucks year-on-year. Despite the current Covid-19 scare, the business drivers have still been able to utilize this bridge for empowering core continuation for the pivotal logistics, supply-chain arena.”
The statement also emphasized upon, “the Kingdom of Bahrain rapidly emerging as the manufacturing as well as logistics hub all thanks to its lowest as well as economical manufacturing cost for a large number of global manufacturing units like Aria, Reckitt Benckiser, Mondelez and Olayan Kimberley-Clark.”