“Relations established between our countries [Russia and Bahrain] is a basis for strengthening trade and economic ties, and the development of scientific-technical area gives an additional impulse for this," Manturov said, stressing that Moscow will be developing a dialogue with the Middle East, South-East Asia and Latin America.
The minister added that due to the fact that western countries have introduced rounds of "illegal" economic sanctions against Russia over the Ukrainian crisis, Moscow is ready to discuss the business niches, earlier occupied by the West, with the Middle Eastern countries, and the Gulf monarchies in particular.
Head of Bahrain’s Economic Council Kamal Ahmed said that the Gulf countries are a “rapidly growing market”, interested in cooperation with major Russian companies in the areas of tourism, construction, logistics, and infrastructure.
The Persian Gulf countries are Iran, Iraq, Kuwait, Saudi Arabia, Qatar, Bahrain, the United Arab Emirates and Oman. The region is the world’s largest single source of crude oil. However, Bahrain’s economy does not rely on oil, being a major financial hub with high levels of trade and investment.
