Fahd Mohammed bin Kardous Al -Amiri – UAE Ambassador to the Kingdom of Bahrain
The joint efforts between the UAE and the sisterly Kingdom of Bahrain continue to enhance the bonds of cooperation and integration between them at all levels, thanks to the support of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, and his brother His Majesty King Hamad bin Isa Al Khalifa, King of the Kingdom of Bahrain, may God protect them. And their steadfast approach to ensuring the strengthening of the close historical relations between the two countries, and the consolidation of the strategic partnership between them, in order to achieve common interests, and support their ambitious vision of sustaining growth and prosperity.
In this context, the agreement to encourage and protect investment between the UAE and the Kingdom of Bahrain, as well as the agreement to remove the tax on tax taxes and prevent tax evasion and avoiding a strategic step that reflects the depth of brotherly relations between the two brotherly countries, their joint commitment towards strengthening partnership and economic integration, and supporting the investment environment in the two countries, in a way that serves their common interests.
These agreements constitute an ambitious vision, as an agreement to encourage and protect investment opens promising prospects for developing trade exchange, increasing the flow of direct foreign investments, promoting competitiveness, and encouraging innovation and entrepreneurship. The agreement also provides guarantees to protect investments, which creates broader opportunities for investors to expand their investment activity and enhance partnerships in priority sectors such as industry, financial services, tourism, technology, food security, and others. This in turn contributes to creating new job opportunities and supporting the comprehensive economic development process in the two countries.
The agreement to remove the tax duplication of income taxes, prevent evasion and avoidance, also contribute to avoiding hindering the free flow of trade and investment across the border. The tax duplication is one of the main obstacles facing companies wishing to pump more investments. By removing this burden according to the agreement, companies and investors can expand their activities within a clear tax framework free of duplication, which enhances the attractiveness of the two countries as two pioneering investment sides in the region, and supports attracting the largest number of investments to their active economists.
The agreement supports the effective tax framework committed to international standards of transparency in financial transactions. Its importance increases in light of the current global economic challenges, which require effective cooperation in tax issues to ensure the sustainability of economic growth and protect common interests of all parties.
This blessed step will, God willing, will be a new start, towards enhancing the march of cooperation and the distinguished integration that brings together the UAE and the sisterly Kingdom of Bahrain, in addition to the joint cooperation agreements that contributed to achieving a qualitative shift in economic integration between them, in light of their efforts to facilitate and enhance inter -trade and joint investment, and enhance the position of the two countries on the global economic and financial map, in line with their vision to achieve sustainable development and promotion Their pioneering role in the region.
