Cairo: As part of the official visit of His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister, to Egypt, the Bahrain Economic Development Board (Bahrain EDB) has entered into a Memorandum of Understanding (MoU) with Egypt's General Authority for Investment and Free Zones (GAFI). This agreement highlights the mutual commitment of Bahrain and Egypt to fortify their strategic investment partnership.
According to Bahrain News Agency, the MoU was signed by Noor bint Ali Alkhulaif, Minister of Sustainable Development and Chief Executive of the Bahrain EDB, alongside Hossam Heiba, CEO of GAFI. The signing took place in the presence of HRH Prince Salman bin Hamad Al Khalifa, emphasizing the significance of this collaboration.
On this occasion, Alkhulaif expressed that the MoU signifies the robust investment relationship between Bahrain and Egypt. It is intended to establish a more effective cooperation framework that will boost investment, facilitate the exchange of knowledge on priority sectors, foster joint opportunities, and provide improved services to investors. This strategic cooperation aims to explore new economic growth and development avenues.
The strong trade relationship between the two nations is evident from the growth in bilateral non-oil trade, which reached $460.5 million in 2024. In the same year, Egypt was Bahrain's 14th largest non-oil import partner and 6th largest export destination. Egyptian investments in Bahrain have largely focused on professional, scientific, and technical services, as well as the finance and insurance sectors.