Manama: Shaikh Khalid bin Abdullah Al Khalifa, Deputy Prime Minister of Bahrain, hosted a reception in honor of His Excellency Muhammad Shehbaz Sharif, the Prime Minister of the Islamic Republic of Pakistan, at the Arcapita building in Bahrain Bay. The reception was attended by Dr. Abdullatif bin Rashid Al Zayani, Minister of Foreign Affairs, and Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy.
According to Bahrain News Agency, the Deputy Prime Minister welcomed the Pakistani Prime Minister, emphasizing the importance of the visit as a milestone in the cooperation between Bahrain and Pakistan. He highlighted the ongoing growth in economic relations that have evolved into a partnership centered on mutual investment opportunities in sectors such as finance, digital technology, and industry.
Shaikh Khalid bin Abdullah commended the contributions of Pakistani companies in diversifying Bahrain's economy and expressed optimism about future investment prospects amid regional economic shifts. He reiterated the Kingdom's commitment to working with Pakistan to explore new avenues that support both nations' visions and offer increased opportunities for the private sector to engage in joint projects.
During the event, Shaikh Salman bin Khalifa delivered a speech recognizing the longstanding ties and the role of the Pakistani community in Bahrain's development. He noted the contributions of Pakistani financial institutions in the Kingdom's financial sector over the past fifty years.
The Finance Minister also discussed the transformation of Bahrain-Pakistan relations into a forward-looking partnership. He highlighted that the Promotion and Protection of Investment agreement, signed a decade ago, has led to increased investor confidence, with foreign direct investment from Pakistan to Bahrain rising by over 70% in the past six years, and bilateral trade since 2020 surpassing $1.5 billion.
Shaikh Salman bin Khalifa emphasized Bahrain's position in the Gulf Cooperation Council region's transformation into a hub for innovation and technological excellence. He outlined opportunities for Pakistani banks and innovators in Bahrain's financial services, digital technology, and industrial sectors.
The Minister expressed Bahrain's vision of a shared economic future with Pakistan, focusing on resilience, innovation, and inclusive prosperity. He concluded by celebrating the achievements and expressing hope for future collaboration with Pakistan.
Following the reception, the Deputy Prime Minister and Prime Minister Sharif reviewed Bahrain's investment landscape, major development projects, and the role of the Bahrain Economic Development Board. Business leaders from both nations also engaged in discussions to explore investment opportunities and enhance economic partnership.