Bahrain Development Bank (BDB) and Arab Business Leaders (ABL) have signed a memorandum of understanding (MoU) to work together for strengthening business ties between Europe and the GCC, with focus on the kingdom.

The MoU outlines the basis for both parties' future collaboration, said a report in the Gulf Daily News (GDN), our sister publication.

The partnership will mainly focus on attracting European investors and companies to Bahrain, fostering entrepreneurship initiative in the kingdom with the support of European institutions and developing co-operation between the two regions for women empowerment.

Moreover, BDB and ABL agreed to work on increasing the competitiveness of small and medium enterprises in Bahrain and to support them in their international strategy mainly to deal with the European market.

ABL is an independent organisation that seeks to promote entrepreneurship and business between the Middle East and the rest of the world.

The MoU was signed by BDB deputy general manager for non-financial services Shaikh Hesham bin Mohamed Al Khalifa and ABL president Houssam Nasrawin in Paris. - TradeArabia News Service