Saudi Arabia is Bahrain’s biggest economic partner, announced Ali al-Mudaifa, Executive Director - Investment Origination at the Bahrain Economic Development Board (EDB).
Speaking to Asharq Al-Awsat, Mudaifa said he expects smart technology to reduce waiting times for trucks and increase trade exchange between the two countries.
Mudaifa explained that the use of smart technology in the clearance of transit shipments will effectively enhance the vitality of the logistical services sector between the two countries, and with the rest of the Gulf Cooperation Council (GCC).
He indicated that the Authorized Economic Operator is a major leap for companies and institutions, which signals the significance of the economic cooperation that helped sustain the supply lines during the past year.
This important program will enhance the economic integration between the two kingdoms, according to the director, saying it supports the ongoing trade exchange between Manama and Riyadh.
The Economic Development Board asserted its aims to enhance cooperation and activate the memoranda of understanding signed with the Saudi authorities.
It lauded the efforts of the King Fahd Causeway Authority aiming to increase efficiency in clearing shipments in transit, minimizing waiting time, and reducing the customs clearance period from four hours to 20 minutes.
The King Fahd Causeway Authority inked an MoU with Saudi Arabia for Electronic Information Exchange (Tabadul) to implement and operate the Truck Management System project.
The Management System is the latest in a set of steps that have been taken to improve the movement of goods between Bahrain and Saudi Arabia.
Last year, Bahrain Customs Authority automated data collection and added AI scanners that allowed shipment inspections before goods reached the border.
In 2020, the authority also signed an agreement of mutual recognition of the "Authorized Economic Operator" with Saudi Arabia, which came through a memorandum of understanding between the two countries to speed up customs clearance for companies classified under this program.
Recently, Bahrain International Airport inaugurated a new building and introduced new technologies in the Bahrain Logistics Zone, the Bahrain International Investment Park (BIIP), and the Khalifa Bin Salman Port.
The Kingdom has plans to build a second bridge with Saudi Arabia, which will provide additional capacity for cargo trucks, in addition to using the latest technology to boost export and improve customs operations.
