The Kingdom of Bahrain, even though it was the first Gulf country where oil was discovered in 1932, has quite scarce oil reserves. In fact the majority of oil derived income is related to the refining of crude oil, which is imported from Saudi Arabia to be then sold abroad once it has been refined.
Due to its limited oil reserves, until now main source of income for all the Gulf countries, Bahrain diversified its economy staking particularly on the services sector.   The commercial relationships with Italy increased in the last few years and this is confirmed by the two commercial agreements signed in 2006, one on protection and promotion of investments, the other one on equality of treatment on anchorage and port taxes.

COMMERCIAL EXCHANGE WITH ITALY
 
Since 2004 commercial exchange between Italy and Bahrain increased, with a peak in the year 2008. Since then the commercial exchasnge has been growing again, the latest available data for 2010 puts it at 254 mln euro.
The main products Bahrain imports from Italy are:  
• machinery and mechanical appliances;
• pipes and metallurgy products;
• food products;
• jewellery, particularly gold jewels;
• clothing and footwear;
• furniture.
 
Bahrain, on the other hand, exports to Italy metal products, (aluminium)  textiles and oil refining products. In 2010 the overall value of Bahraini export towards Italy settled at 112 mln  Euros.  

VISITS    
On Nov. 2 to 4 2008 a Delegation from the Chamber of Commerce of Turin visited Bahrain. The Delegation met  with Dr. Essam Fakhro & Members of the Board of BCCI.,and visited  Bahrain International Investors Park   ,the  Bahrain Investors Centre,   the Economic Development Board.
 
On January 2009 the CEO of ENI Mr. Paolo Scaroni visited Bahrain and had meetings with HM the King and at BAPCO.
 
On October 2010 Mr. Massimo Moratti visited Bahrain.
 
On November 2011 the first Bahrain Roadshow was staged in Italy, in Rome and Milan, hosted by the Milan Chamber of Commerce and by Confindustria.