Heba Mohsen
Economic Counselor Mohamed Al -Mousawi confirmed that the Bahrain -Emirati Business Forum, which was held recently, was a vital platform for reviewing the investment and competitive environment between the two countries, adding that the results indicate that the future holds promising horizons, as the two countries seek to exceed the volume of trade exchange barrier 40 billion dirhams during the coming years, through common economic policies targeting new areas such as digital technology and renewable energy.
Al -Mousawi pointed out that the volume of trade exchange between the Kingdom of Bahrain and the sisterly United Arab Emirates reached in 2024 a new record level of 33.9 billion dirhams, with an exceptional annual increase of 25.5%. This great growth reflects the success of joint efforts in developing the business environment and facilitating intra -trade.
He pointed out that the most prominent contributing sectors include industrial products, petrochemical, food and financial services, which reflects diversity in trade relations. Strategic agreements were also signed to enhance cooperation in government purchases, prevent double taxation, and protect investments.
He stated that the forum sessions reviewed the successful experiences from the Gulf states and how to benefit from them in developing a competitive business environment, and the role of free zones in facilitating trade, and enhancing cooperation between Bahrain and the Emirates in this aspect, as well as the role of financial technology in enhancing economic cooperation, while providing offers on innovations in this sector, in addition to allocating direct sessions between companies from the two countries to enhance trade relations and sign partnerships.
On the agreements that were made during the forum, the Al -Mousawi Counselor said: The focus was on the importance of implementing bilateral agreements such as the Integration Agreement in Government Procurement, the Convention on the Prevention of Duplication, and the Investment Protection Agreement, in addition to enhancing national content in joint projects.
The forum also discussed the role of free zones as growth gates and dealing with cooperation paths in the fields of digital business, food security, water management, financial technology, digital economy, innovation and entrepreneurship.
Participants highlighted the importance of unifying customs and organizational policies and procedures to facilitate supply chains, reduce delays and stimulate joint Gulf growth.
And on the agreements that were made during the forum, and strengthened by the Emirati Investors Center launched by the Ministry of Industry and Trade, the most important of them:
My family and ports: Three agreements in the fields of dry basins, shipbuilding, and port management, including the establishment of a joint company and the development of environmentally friendly facilities for ships recycling.
The National Content Center: It allows the treatment of products manufactured in the Emirates as Bahraini national products, and vice versa, which enhances the local industry, and stimulates partnerships between the private sector.
