Egypt, Bahrain sign multiple agreements to boost cooperation

Egypt and Bahrain Thursday inked 13 memorandum of understanding for bilateral cooperation and agreed on 15 initiatives, in many areas, as part of moves to boost cooperation between the two countries.

The deals signing took place during the first meeting of the Egyptian-Bahraini governmental committee for trade, economic, scientific, and technological cooperation, headed by Egyptian and Bahraini Ministers of Finance Mohamed Maait and Salman bin Khalifa Al Khalifa.

For the agreements to be effective, both countries also adopted a list of its working order in a way that ensures their achievement.

The deals seek to increase trade opportunities, overcome obstacles hindering access to the markets, foster cooperation between business communities to promote the internal trade movement, complete the procedures of “Mutual Recognition” for the “Certified Economic Operator” program, and deepen cooperation in direct investment in strategic and vital sectors. The deals also provide for offering investment opportunities in industrial sectors to private sector companies in the two countries.

The two sides also discussed the establishment of an Egyptian trade center in Bahrain.