Shura Council Approves Bahrain Investment Protection Deal With UAE To Boost Trade Ties

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The Shura Council of Bahrain has agreed to an investment protection agreement with the United Arab Emirates, aimed at bolstering legal protection for investors and bilateral trade ties. The agreement, which sailed through the council without a hitch, is expected to be referred to the Speaker of Parliament, then to the Prime Minister, and finally to His Majesty King Hamad bin Isa Al Khalifa for signing.

The rapporteur of the committee, Hamad Al Nuaimi, added that the accord gives investors legal certainty and adds to Bahrain's reputation as a business center. He noted the long history between Bahrain and the UAE and opined that the deal was only a matter of time, since their economic relations were expected to expand further. The chairman of the Foreign Affairs, Defence, and National Security Committee, Dr. Ali Al Rumaihi, described the agreement as part of a broader strategy to stay competitive in a rapidly evolving global economy, calling it a "model of cooperation" that reflects the strong relations between the two nations.

Undersecretary for International Cooperation at the Ministry of Finance and National Economy, Nawaf Al Sada, said the deal is a strategic move to attract foreign investors and create job opportunities in Bahrain. He added that such deals are prepared following discussions with major firms in Bahrain and interest from foreign partners, and the UAE was a natural fit because of deep existing ties. According to the head of the Human Rights Committee, Dr. Mohammed Al Khuzai, the agreement aims at reinforcing a decree from 2024, unveiling a continuation of cooperation between the two neighbors in various sectors, which should expand the investment relationship with the Gulf neighbor.

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