MANAMA: The stage is set for the second Bahrain-Egypt Summit, to be held in Manama later this week.
His Majesty King Hamad and Egyptian President Abdel Fattah Al Sisi are expected to sign several political and economic agreements at the summit which will held on Tuesday and Wednesday.
The leaders will also review bilateral relations and ways to co-ordinate the two nations’ stances on regional developments, sources told our sister paper Akhbar Al Khaleej yesterday.
The first summit was held at Al Ittihadiya Palace in Cairo last June.
Bahrain was the first Arab country to voice strong support for Egypt’s June 30, 2013 Revolution, which boosted bilateral relations, the sources pointed out.
The GDN earlier reported that exchange of security intelligence between Bahrain and Egypt has significantly helped in combating terrorism in the region.
Egyptian Ambassador Soha El Far also told the GDN during an exclusive interview on the occasion of the Egyptian National Day last month that Bahrain and Egypt are both strongly combating terrorism and are greatly offering each other all the support needed.
According to latest figures from the Bahrain Chamber of Commerce and Industry, shared trade deals between the two countries reached $272 million in 2017.
This is in addition to $1.7 billion of Bahraini investments in Egypt, making Bahrain 14th in the ranking of countries investing in Egypt.
Egypt’s exports to Bahrain, not including petrol, reached $90m in 2017 including fresh fruit and vegetables, food, furniture and electronics.
“Bahrain provides very appreciated atmosphere for investment and has been ranked among the best in the region when it comes to transparency and when it comes to doing business with the community at large,” the Egyptian ambassador said.
“I hope Bahrainis can understand that Egypt is a big and lucrative market for Bahrainis to invest in.
“Egypt has issued new investment laws that greatly benefit investors.”
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