Bahrain and the UAE yesterday vowed to strengthen economic relations and boost trade by removing regulatory obstacles and creating an appropriate environment for businesses.
The countries issued a joint communique following the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to the UAE.
Prince Salman met Shaikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
The two governments agreed to boost co-operation in areas of mutual concern, including but not limited to politics, diplomacy, security, trade, tourism, advanced technologies, energy, transport, education, labour and human resources, climate change and health. Ministries and government authorities in both countries will co-operate ‘to turn objectives into joint ventures’.
- The countries expressed keenness to reinforce their political dialogue and diplomatic consultations by increasing high-level visits, determining priorities and agendas, realising joint stances on an international level, strengthening co-operation between diplomatic academies and establishing a joint consular committee.
- They will stress their commitment to the principles of the United Nations (UN) and explore co-operation opportunities under the framework of international organisations.
- Bahrain and the UAE will support all efforts to promote global peace, combat international crime and extremism, and achieve sustainable development goals.
- They will boost security co-operation, especially to tackle cyber threats. Relevant authorities from both countries will exchange expertise in cybersecurity.
- Bahrain and the UAE pledged to establish a joint fund to invest in ‘promising opportunities and projects’ in both countries and abroad. National organisations from both countries will reinforce their economic ties by establishing a centre for Emirati investors in Bahrain and connecting commercial registries in both countries.
- The authorities will discuss joint investments in oil, gas and petrochemicals, and set up a joint venture to invest in Bahrain. The two sides reaffirmed their commitment to encourage trade between companies by establishing a framework for industrial and investment partnerships.
- They expressed keenness to restore the aviation sector to pre-pandemic levels by increasing flights to and from both countries.
- Bahrain and the UAE aim to exchange the best economic experiences and practices, support capacity building and development of a knowledge-based economy, and promote co-operation in infrastructure projects. Both countries believe in the importance of information and communication technology and digitisation of the public sector and are keen to co-operate in this area.
- The countries stressed the importance of continuing co-operation in higher education and scientific research. Educational institutions will collaborate and exchange the best practices in various academic specialisations.
- They pledged co-operation in the field of artificial technology (AI) applications.
- The countries will exchange expertise in the field of employment and localisation according to their domestic laws and implement joint programmes in this area.
- Authorities will exchange expertise in tourism marketing by establishing joint projects, including the aviation and hospitality sectors. Their public and private sectors will enlarge the scope of their partnerships and provide the best joint services.
- The two countries will join hands to tackle climate change. They will continue their efforts to achieve carbon neutrality through various programmes and initiatives.
- In light of the coronavirus (Covid-19) pandemic, the UAE and Bahrain stressed their commitment to reinforcing scientific co-operation and providing urgent medical supplies internationally. The two countries will strengthen health and medical co-operation between relevant authorities, universities and medical colleges, and support joint medical research and development.
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