UAE and Bahrain to boost trade, economic, investment relations
The Bahrain-UAE Business Forum kicked off on Friday in the Bahraini capital, Manama, with the participation of senior officials from both countries, along with representatives of leading Emirati and Bahraini companies.
Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, led a high-level UAE delegation to participate in the forum.
The forum comes as strategic relations between the two countries grow from strength to strength, particularly in areas relating to economic, trade and investment relations.
Discussions focused on increasing cooperation between the two nations in economic sectors of mutual benefit, including finance, water security, tourism, logistics and energy.
In a keynote address, Al Zeyoudi stressed that relations between the two countries are witnessing continuous growth along their path to reach a solid and sustainable strategic partnerships in various fields.
Al Zeyoudi stated, 'These positive developments in our strategic partnership are being driven by the forward-looking vision and common will of the leadership of both nations, who seek to boost our relations to new heights in order to achieve the common development aspirations of both our peoples. They are also boosted by positive meetings between President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty King Hamad bin Isa Al Khalifa of the Kingdom of Bahrain.'
Al Zeyoudi also reaffirmed the UAE's commitment to building strong regional trade and investment relationships, with Bahrain a key partner in these efforts.
He highlighted the deepening and historic economic ties between the two nations, achieved through bilateral and multilateral deals, including the Industrial Integration Partnership for sustainable economic development.
Al Zeyoudi restated the mutual vision of securing supply chains, integrating value-added industries into their economies and diversifying their manufacturing base to create jobs.
Al Zeyoudi noted that trade and investment relations between the UAE and Bahrain have grown strongly in recent years. Bilateral non-oil trade reached Dhs33.9 billion in 2024, an increase of 23 per cent when compared to 2023. Overall, between 2015 and 2024, UAE-Bahrain trade has increased by an average of 11 per cent per year, the fastest of any of the UAE's Gulf partners, with whom the average growth rate was 8 per cent. Overall, the UAE is Bahrain's second-largest trading partner globally, comprising 10.4 per cent of its total worldwide trade.
In turn, Abdulla bin Adel Fakhro, Minister of Industry and Commerce of the Kingdom of Bahrain, stressed that the forum reflects the depth of relations and strategic integration between Bahrain and the UAE and represents a new milestone in their partnership.
During his opening speech at the forum, Fakhro welcomed Al Zeyoudi and his accompanying delegation, praising their visit to Bahrain and their participation in the forum, which confirms a mutual keenness to enhance bilateral cooperation in various economic sectors.
Fakhro explained that the forum is being held at an important time, and embodies the common conviction that economic integration is not only achieved through the exchange of goods and investments, but also through the activation of agreements and memorandums of understanding signed between the two countries, allowing the private sector opportunities to expand and access new markets.
Fakhro pointed to the importance of the recent memorandum of understanding on integration in the National Added Value (ICV) programmes, which allows products manufactured in either country to be treated as national products in the other country, helping to strengthen local industries and increase opportunities for preference in government procurement.
Fakhro also announced the inauguration of the Emirates Investor Centre at the headquarters of the Ministry of Industry and Commerce, as agreed as part of a memorandum of understanding concluded between the two sides. He stressed that the centre will provide facilities and services to Emirati investors.
Fakhro expressed his thanks and appreciation to all participants and organisers, reiterating his hope that the forum will contribute to pushing the economic relations between Bahrain and the UAE towards further progress and prosperity.
The Bahrain-UAE Business Forum included several panel discussions and presentations, with the participation of a group of senior officials and business leaders from both sides, including a session entitled 'Competitive Investment Environment for Entrepreneurs and Investors in Bahrain and the UAE', and another session entitled 'Growth Gateways - Prospects for Cooperation in Free Zones'. Meanwhile, the session entitled 'Empowering the Financial Future - Bahrain-UAE's partnership in financial innovation' pointed to the promising potential of the two countries in the field of financial technology and the prospects for integration between them.
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