Bahrain showcases its new market Intelligence tools during Global Entrepreneurship Week
ITC and Export Bahrain unveil new tools to help Bahrain’s small and medium-sized enterprises find export opportunities
Business operators in Bahrain have gained better access to trade intelligence tools to compare and identify export opportunities thanks to a unique collaboration between the International Trade Centre (ITC) and newly-established trade promotion organization Export Bahrain to be showcased at Global Entrepreneurship Week (29 November−6 December 2020).
Bahrain's Trade Map, Market Access Map and Export Potential Map have put data on export potential, market dynamics, competition, tariffs and regulatory requirements at the fingertips of Bahraini trade advisors.
The tools will help Export Bahrain strengthen its business advisory services and facilitate firms' access to trade intelligence tools to compare and identify export opportunities.
Export Bahrain's Planning & Market Intelligence Manager, Aida Al Mudaifa, says that ITC's support is timely and will help "policymakers to prioritize trade support actions and businesses to diversify their market risks in times when COVID-19 increased the economic pressures worldwide".
She said both herself and her colleagues had benefited from a series of ITC-run capacity-building workshops and now feel at ease conveying their expertise on trade and market access to a growing number of clients.
Using trade intelligence tools can help alleviate market challenges and realize the potential that Bahrain holds in goods and services trade.
Bahrain has the potential to export $6.2 billion in non-oil goods, and Bahrain's strong transport sector − with an export potential worth $918 million - will be vital to bringing these products to target markets around the globe.
Logistics and other services providers can spot promising markets using the new services module of Bahrain's Export Potential Map. The analysis relies on ITC's export-potential-of-services methodology, which was piloted in Bahrain.
ITC's support for trade intelligence is part of a larger project financed by the Kingdom of Bahrain. The project aims to operationalize Exports Bahrain by strengthening its capacities to provide competitive services to exporting small and medium-sized enterprises (SMEs) and emerging SMEs with export potential. The project will also help improve the export competitiveness of Bahraini SMEs by giving them access to the business advisory services they need to start quickly or grow their international operations.