Manama, September 3 /BNA/ In the presence of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, and within the framework of his official visit to the sisterly Arab Republic of Egypt, the Economic Development Board signed a Memorandum of Understanding with the General Authority for Investment and Free Zones in Egypt, aiming to enhance bilateral investment relations.

The MoU was signed on behalf of the Bahraini side by Her Excellency Mrs. Noor bint Ali Al Khalifa, Minister of Sustainable Development and CEO of the Economic Development Board, while on the Egyptian side it was signed by Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones.

On this occasion, the Minister of Sustainable Development and CEO of the Economic Development Board emphasized the importance of the MoU in strengthening investment cooperation between Bahrain and Egypt, noting that the agreement will contribute to establishing an effective regulatory framework to boost bilateral investments, exchange information on opportunities in key sectors and investment initiatives, as well as promoting investment opportunities and providing services to investors in both countries, supporting the achievement of shared economic goals.

It is noteworthy that the Arab Republic of Egypt ranked 14th among the largest non-oil trade partners with the Kingdom of Bahrain in 2024 in terms of import volume, and ranked sixth among the largest export destinations. This reflects the strong trade relations between the two countries, with the volume of non-oil trade exchange reaching 460.5 million US dollars. Egyptian investments in Bahrain are concentrated in professional, scientific, and technical services, in addition to the finance and insurance sectors.