Bahrain Business: Bahrain’s exports to UAE top $1billion

The UAE’s investments in Bahrain amount to $2 billion, Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa said.

He also highlighted trade between the two countries and said Bahrain’s exports to the UAE exceeded $1bn annually while imports totalled more than $1bn.

The minister was responding, in writing, to a question by Shura’s financial and economic affairs committee, chaired by Khalid Al Maskati, on an urgent mutual investment protection agreement drafted by the government.

“There are 110 branches of UAE companies in Bahrain, 1,200 Bahraini companies with UAE investors, 6,900 Emirati nationals own stocks in Bahrain Bourse, 3,000 Emiratis own property in Bahrain and 1,978 Emiratis are licensed to conduct business in Bahrain,” said Shaikh Salman.

The agreement is expected to be debated and voted on during Sunday’s weekly session.

Meanwhile, Shura members are also expected to vote on a similar agreement with Hong Kong.

“We have so far signed 45 similar agreements with several countries,” Shaikh Salman said.

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