Manama: The Bahrain-UAE Business Forum commenced today in the Bahraini capital, Manama, bringing together senior officials from both nations, along with representatives from leading Emirati and Bahraini companies. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, spearheaded a high-level UAE delegation in participating in the forum.
According to Emirates News Agency, the forum takes place amidst strengthening strategic relations between the two countries, focusing on economic, trade, and investment collaborations. Key discussions revolved around enhancing cooperation in mutually beneficial economic sectors, including finance, water security, tourism, logistics, and energy.
In a keynote speech, Al Zeyoudi emphasized the continuous growth in relations between the UAE and Bahrain, aiming for solid and sustainable strategic partnerships. He credited this progress to the forward-looking vision and common goals of both nations' leadership, aiming to elevate relations to new heights for the development aspirations of their peoples. Positive meetings between President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Majesty King Hamad bin Isa Al Khalifa of Bahrain were highlighted as significant contributors to these developments.
Al Zeyoudi reiterated the UAE's dedication to building robust regional trade and investment relationships, with Bahrain being a key partner. He underscored the deepening economic ties between the nations, achieved through bilateral and multilateral agreements like the Industrial Integration Partnership for sustainable economic development. He further discussed the shared vision of securing supply chains, integrating value-added industries, and diversifying manufacturing bases to create employment.
Trade and investment relations between the UAE and Bahrain have seen substantial growth, with bilateral non-oil trade reaching AED33.9 billion in 2024, marking a 23% increase from 2023. From 2015 to 2024, UAE-Bahrain trade grew by an average of 11% per year, the fastest among the UAE's Gulf partners. The UAE stands as Bahrain's second-largest trading partner globally, accounting for 10.4% of its total worldwide trade.
Abdulla bin Adel Fakhro, Bahrain's Minister of Industry and Commerce, highlighted the forum as a testament to the deep strategic integration between Bahrain and the UAE, marking a new milestone in their partnership. In his opening speech, Fakhro welcomed Al Zeyoudi and his delegation, expressing mutual eagerness to enhance bilateral cooperation in various economic sectors.
Fakhro explained that the forum occurs at a crucial time, embodying the belief that economic integration extends beyond goods and investments to the activation of agreements and memorandums of understanding, providing the private sector with opportunities to expand and access new markets. He pointed to the recent memorandum on National Added Value (ICV) programmes integration, enhancing local industries and government procurement opportunities.
Fakhro announced the opening of the Emirates Investor Centre at the Ministry of Industry and Commerce headquarters, agreed upon in a memorandum between the two sides. He emphasized that the centre will facilitate services for Emirati investors.
The Bahrain-UAE Business Forum featured several panel discussions and presentations, involving senior officials and business leaders from both sides. Key sessions included 'Competitive Investment Environment for Entrepreneurs and Investors in Bahrain and the UAE', 'Growth Gateways - Prospects for Cooperation in Free Zones', and 'Empowering the Financial Future - Bahrain-UAE's partnership in financial innovation', highlighting the potential for financial technology integration.
The forum also hosted bilateral meetings between business leaders and representatives from major Emirati and Bahraini companies to explore trade and investment opportunities in priority sectors. Al Zeyoudi and the delegation visited the recently opened Emirates Investor Centre, receiving briefings on the services offered to investors, such as company establishment assistance and partner additions.
Faisal Ahmed Saleh, Assistant Undersecretary for Commercial Registry and Companies at Bahrain's Ministry of Industry and Commerce, stated that the Emirates Investor Centre serves as an essential resource for over 1,500 Emirati investors in Bahrain working across various sectors.
The UAE delegation at the forum included Fahad Mohammed Salem bin Kardous Al Ameri, UAE Ambassador to Bahrain; Juma Mohammed Al Kait, Assistant Undersecretary for Foreign Trade Affairs Sector at the Ministry of Economy; Marwan Abdullah Al Zaabi, Assistant Undersecretary for the Regions Sector at the Ministry of Climate Change and Environment; and Ali bin Harmal Al Dhaheri, First Vice Chairman of the Abu Dhabi Chamber of Commerce and Industry, among others. Additionally, CEOs of UAE free zones and senior government officials participated, alongside business leaders from multiple sectors including telecommunications, logistics, banking, financial services, energy, agriculture, and health.