BCCI Chairman participates in second Gulf-Azerbaijan Economic Forum

Manama: Samir Abdullah Nass, Chairman of the Bahrain Chamber of Commerce and Industry (BCCI), participated in the second Gulf-Azerbaijan Economic Forum. The forum served as a platform to explore new partnerships and investment opportunities, aiming to drive economic growth and ensure sustainable development for both the GCC countries and Azerbaijan. During his speech at the forum, Nass underscored the importance of bolstering investments in key sectors, including food security, renewable energy, and agriculture. He highlighted the significant increase in trade between the GCC and Azerbaijan, which rose by 28% in 2024, reaching USD 1.8 billion, with Gulf investments in Azerbaijan amounting to USD 7 billion. On his part, Waleed Ibrahim Kanoo, Vice Treasurer of BCCI, called on governments to create a more attractive environment for renewable energy investments. He highlighted the role of the private sector in driving sustainable development and commended Bahrain's commitment to renewable energy, under the l eadership of His Majesty King Hamad bin Isa Al Khalifa. Khaled Al Ameen, Chairman of the Food Sector Committee at BCCI, called for the establishment of a GCC-wide food authority aimed at enhancing food production and securing supply chains. He noted the significance of the global halal market, valued at USD 5 trillion, with halal food contributing USD 1.3 trillion, underscoring the need for a regional body to oversee food safety and quality standards according to internationally recognised practices. Al Ameen underscored the importance of adopting joint food security policies between the GCC and Azerbaijan to strengthen agricultural supply chains and promote sustainable development. He also highlighted the need to create strategic food storage facilities across the region, capable of securing food reserves for at least six months, and urged the adoption of advanced technologies, such as smart refrigerated storage and electronic monitoring systems, to reduce food wastage and ensure quality control. Al Amee n emphasised the importance of collaboration between governments and the private sector to establish a regional network for sharing information on food stocks and storage needs. This would aim to enhance coordination in managing food surpluses and shortages, contributing to greater food security for all nations involved. Source: Bahrain News Agency