Deputy Prime Minister Shaikh Khalid bin Abdulla Al Khalifa praised historic relations between Bahrain and Egypt and their steady development under the leadership of His Majesty King Hamad and Egyptian President Abdel Fattah Al Sisi.Speaking to the Middle East News Agency (Mena), the Deputy Premier praised the positive outcomes of the recent meeting between the two leaders in Cairo which reflected mutual keenness to bolster integration and strategic partnership. He pointed out conformity of the diplomatic stances to protect national security and defend Arab interests, ahead of the Arab Summit set to be held in Manama on May 16.He added that the talks underscored the commitment of the King and President Al Sisi to safeguarding Arab national security and supporting Arab rights and interests, with a particular focus on the Palestinian cause.

Regarding economic collaboration, Shaikh Khalid said the two countries are working together to increase the volume of trade exchange to more than $1 billion annually. The current volume of trade exchange is at $571 million.The Deputy Prime Minister said the two countries’ governments, led by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister and his Egyptian counterpart Mustafa Madbouly, worked towards enhancing their development partnership.Shaikh Khalid emphasised the shared interest in leveraging opportunities in the industry, energy, tourism, education and human development sectors.He said the two countries were part of the industrial partnership for sustainable economic growth, which also includes the UAE, Jordan and Morocco. He said the industrial sector has a pivotal role in development, adding that the partnership has generated investments at an estimated value of $7bn.Furthermore, Bahrain and Egypt are in the process of formulating a joint economic co-operation strategy through the joint committee set up by the two countries, he said.

The Deputy Prime Minister said recent global challenges witnessed by the world, such as Covid-19, the Russian-Ukraine war and the current tension in the region, necessitated stronger collaboration to ensure the sustainability of resources and economic sectors.Within this context, the countries seek to benefit from the high potential sectors in them, he said.Shaikh Khalid said Bahrain welcomed Egyptian industrial investments in sectors such as pharmaceutical drugs, food, semiconductor manufacturing and renewable energy products.The Deputy Prime Minister said the significant development and economic reforms seen by Egypt will encourage Bahrain to increase investments and start more joint projects, noting the presence of 216 Bahraini companies in the Egyptian market with a combined capital of $3.3bn.

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