Bahrain, UAE sign deals to enhance cooperation
Bahrain and the UAE have agreed to enhance their bilateral cooperation in several key areas and have signed a number of agreements and memoranda of understanding that will support the economic growth plans of both countries.
The agreements were signed during the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, to the UAE. He met with His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, during the visit.
HRH Prince Salman highlighted the depth of longstanding ties between Bahrain and the UAE, adding that bilateral relations continue to strengthen as a result of the commitment and support of His Majesty King Hamad bin Isa Al Khalifa and His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, said a Bahrain News Agency report.
HRH Prince Salman and HH Sheikh Mohammed attended the signing of a number of agreements and MoUs.
These agreements, and a new executive programme, span a range of areas, including: higher education, teacher training, human resources, trade and investment, advanced technology, economic integration, stock markets, artificial intelligence in oil and gas, logistics, transportation, cyber security, cyberspace technical cooperation, combating crime, food security, healthcare, climate change, and technical support for upstream industries.
A joint statement issued at the end of the visit said the governments of the UAE and Bahrain, in light of the fraternal ties and long-term mutual interests between the two countries, consider their joint objectives and interests embodied in the articles of incorporation of the Gulf Cooperation Council (GCC).
The two countries have agreed to enhance their bilateral cooperation in related areas, to achieve mutual benefits and the joint objectives of both countries. Each party will encourage ministries and government authorities to cooperate to turn cooperation objectives into joint ventures, said a Wam news agency report.
Cybersecurity Cooperation: The two countries are keen to consolidate their cooperation in the area of security, including cybersecurity. Relevant authorities from both countries will exchange expertise in cybersecurity, the joint statement said.
Cooperation in Economic, Trade and Direct Investment and Sectoral Partnerships: The two countries are keen to strengthen their existing economic relations, advance them to broader prospects and remove regulatory obstacles and create an appropriate environment for business, to increase their trade and investment over the coming years significantly. They also aim to establish a joint investment fund to invest in promising opportunities and projects in both countries and abroad.
Relevant 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.
Relevant national authorities from both countries will also discuss joint investments in oil, gas and petrochemicals, and establish a joint venture to invest in Bahrain.
The two sides are keen to increase their investment exchange, affirming their commitment to encouraging trade between companies in both countries by establishing a framework for high-level business, industrial and investment partnerships.
They are also keen to restore the aviation sector to pre-pandemic levels, by increasing flights to and from both countries, it said.
The two countries aim to create cooperation opportunities to facilitate the exchange of best economic experiences and practices, support capacity building and the development of a knowledge-based economy, and promote cooperation in infrastructure projects.
Both countries believe in the importance of information and communication technology and the digitisation of the public sector and are keen to cooperate in this area.
Cooperation in Education: The UAE and Bahrain stressed the importance of continuing direct cooperation in scientific and educational areas related to higher education and scientific research. Under this framework, educational institutions from the two countries will exchange the best practices in various academic specialisations.
Cooperation in Employment and Localisation: In light of the two countries’ keenness to cooperate in employment, labour and localisation by establishing an efficient partnership, they have agreed to exchange expertise in the field of employment and localisation according to their domestic laws and implement joint programmes in this area.
Tourism Cooperation: In light of their keenness to advance the tourism sector, their relevant authorities will exchange expertise in tourism marketing by establishing joint tourism attraction projects, including the aviation and hospitality sectors.
Their public and private sectors will enlarge the scope of their partnerships to develop their tourism sectors and provide the best joint services, said the statement.
Cooperation in the Environment and Climate Change: The two countries will continue their efforts to achieve carbon neutrality through various programmes and initiatives and advanced projects.
Health Sector Cooperation: The UAE and Bahrain have stressed their commitment to encouraging international cooperation to address the pandemic by exchanging the best practices, reinforcing scientific cooperation and providing urgent medical supplies. The two countries are committed to strengthening their health and medical cooperation, reinforcing the relations between relevant authorities, universities and medical colleges, cooperating in health programmes, and supporting joint medical research and development, it said.
Source: http://www.tradearabia.com/news/BANK_389445.html
