Cairo, Shaikh Khalid bin Abdullah Al Khalifa, the Deputy Prime Minister, lauded the long-standing historical relations between Bahrain and Egypt and the ongoing development of the ties between the two countries.
In an interview with Egyptian news Agency, Middle East News Agency (MENA), Shaikh Khalid highlighted the positive outcome of the recent official talks held between His Majesty King Hamad bin Isa Al Khalifa and His Excellency President Abdul Fattah El Sisi in Cairo. He said that the talks demonstrated the shared keenness on consolidating the strategic partnership and unified diplomatic stances ahead of the upcoming Arab Summit, to be held in Bahrain on May 16.
He added that the talks underscored the commitment of HM King Hamad and President El Sisi to safeguarding Arab national security and supporting Arab rights and interests, with a particular focus on the Palestinian cause.
Regarding economic collaboration, Shaikh Khalid bin Abdullah said the two countries are working together to increase the vol
ume of trade exchange to over USD1billion annually. The current volume of trade exchange is at USD571 million.
The Deputy Prime Minister said the two countries’ governments, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister and his Egyptian counterpart Mustafa Madbouly, worked towards enhancing their development partnership.
Shaikh Khalid bin Abdullah emphasised the shared interest in leveraging opportunities in the industry, energy, tourism, education and human development sectors.
Shaikh Khalid bin Abdullah pointed that the two countries were part of the industrial partnership for sustainable economic growth, which also includes the UAE, Jordan and Morroco. He said that the industrial sector has a pivotal role in development, adding that the partnership has generated investments at an estimated value of USD7bn.
Furthermore, Bahrain and Egypt are in the process of formulating a joint economic cooperation strategy through the joint committee set up by the tw
o countries, he said.
The Deputy Prime Minister said recent global challenges witnessed by the world, such as Covid-19, the Russian-Ukraine war and the current tension in the region, necessitated stronger collaboration to ensure the sustainability of resources and economic sectors.
Within this context, the countries seek to benefit from the high potential sectors in them, he said.
Shaikh Khalid bin Abdullah said Bahrain welcomed Egyptians industrial investments in sectors such as pharmaceutical drugs, food, semiconductor manufacturing and renewable energy products.
The Deputy Prime Minister commended the significant development and economic reforms seen by Egypt under the leadership of President El Sisi. He said this boom provided a conducive environment for attracting investments. Shaikh Khalid bin Abdullah added that it will also encourage Bahrain to increase its investments and start more joint projects, noting the prescence of 216 Bahraini companies w in the Egyptian market with a combined capital of
USD3.3 bn.
Source: Bahrain News Agency