Cairo, 3 September /BNA/ Mr. Yousif Abdullah Al-Hammoud, Undersecretary for Financial Affairs at the Ministry of Finance and National Economy, chaired the Kingdom of Bahrain’s delegation participating in the 116th session of the Economic and Social Council of the Arab League at the ministerial level, held at the League’s headquarters in Cairo, Egypt.

During the meeting, the Undersecretary emphasized Bahrain’s keenness, under the leadership of His Majesty King Hamad bin Isa Al Khalifa, and with the close follow-up of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister, to continue enhancing joint Arab action, building economic partnerships, and achieving comprehensive development based on common interests and mutual benefits to meet the aspirations of Arab peoples and achieve growth and prosperity.

He pointed out that Bahrain has given great attention to completing the requirements of the Greater Arab Free Trade Area and developments in the Arab Customs Union, supporting efforts to finalize negotiations on the new Arab Investment Agreement, considering it a fundamental pillar for attracting investments and enhancing economic integration, reflecting Bahrain’s keenness to expand cooperation frameworks and joint Arab work at various levels.

The Undersecretary also reviewed Bahrain’s key initiatives during its presidency of the Economic and Social Council, including the Arab cooperation initiative in financial technology, innovation, and digital transformation, believing in the importance of cooperation among Arab countries to keep pace with the requirements of the era by employing modern technology in the financial sector, in addition to the Bahraini satellite project (Al-Munther) as an advanced model reflecting Arab leadership in space and modern technology.

During the meeting, the Undersecretary handed over the presidency of the Economic and Social Council to the sisterly Republic of Tunisia, expressing sincere thanks and appreciation to the General Secretariat of the Arab League for excellent preparation and organization, and to all sisterly countries for their cooperation with Bahrain during its presidency, wishing Tunisia success in chairing the 116th session of the Economic and Social Council.

The meeting included discussions on several important agenda items, including following up on the implementation of the decisions of the 115th session of the Economic and Social Council, reviewing the social and economic file of the Arab League Council at the summit level, investment in Arab countries, as well as updates on artificial intelligence, technology, economic diversification, and other developmental topics.