TOKYO - Japan and Bahrain on Thursday signed an investment agreement that is expected to help bolster economic ties between the two countries, the Japanese Foreign Ministry said.
The deal, called the Agreement between Japan and Bahrain for the Reciprocal Promotion and Protection of Investment, was signed by Japanese Parliamentary Vice-Minister for Foreign Affairs Taro Honda and Undersecretary for Financial Affairs at Bahrain's Ministry of Finance and National Economy Yusuf Abdulla Humood in Manama, the ministry said in a press release.
The bilateral agreement aims to further protect and promote investment between the contracting parties, the ministry said, adding that it stipulates the treatments accorded to investment activities and investments when an investor of a contracting party invests in the other contracting party.
"The investment environment in Bahrain is relatively favorable, and Japanese companies are already active in sectors such as manufacturing, finance and trade. Moreover, further investment in Bahrain by Japanese companies is expected, including large-scale projects, and the importance of providing assistance to these companies is going on," it said.
"Through this agreement, further improvement of the investment environment in Bahrain is expected, which will contribute to building closer economic relations between Japan and Bahrain." The pact will enter into force on the thirtieth day after the date of the exchange of diplomatic notes, according to the ministry.
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