Bahrain-UAE Agreement On Protecting Investments Goes Into Force

(MENAFN- Kuwait News Agency (KUNA)) MANAMA, May 8 (KUNA) -- Bahrain and the United Arab Emirates (UAE) announced that the agreement on the promotion and protection of investments, signed between the governments of the two countries, has entered into force as of Thursday, May 8, according to the official Bahrain News Agency (BNA).
This follows the completion of the necessary legal procedures by both sides, following the provisions of the agreement.
This development reflects the deep-rooted ties and growing economic partnership between the two nations, and their joint aim to boost investment in line with both countries' development goals, BNA said.
The agreement establishes a comprehensive legal framework that guarantees full protection for investments and develops confidence among investors by ensuring fair and equitable treatment and providing clear mechanisms for dispute resolution.
Given rapid developments in the digital economy, the agreement also underscores the importance of enhancing cooperation in digital trade. This includes data protection, privacy, cybersecurity, intellectual property rights, and the use of electronic signatures and authentication.
It also promotes the exchange of best practices and technical capacity-building, representing a qualitative step towards creating a modern, advanced investment environment that aligns with both countries' ambitions for digital transformation and economic competitiveness.
Sheikh Salman bin Khalifa Al Khalifa, Bahrini Minister of Finance and National Economy, emphasized that the Kingdom of Bahrain attaches great importance to enhancing cooperation with the UAE.
He highlighted the role of bilateral agreements in advancing cooperation in line with the visions of King Hamad bin Isa Al Khalifa and Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, whose leadership reflects longstanding ties grounded in shared history and established foundations.
He added that the Kingdom remains committed to strengthening investment cooperation at both regional and international levels, having signed nearly 40 agreements to promote and protect investments, thereby contributing to economic growth and the creation of promising new opportunities.
Mohammad bin Hadi Al Hussaini, Minister of State for Financial Affairs of the UAE, highlighted that the entry into force of the agreement reflects a shared commitment to strengthening bilateral economic relations. He noted that it represents a further step in advancing Gulf economic integration and provides a considered response to evolving regional and global economic conditions, particularly given current global challenges requiring enhanced efforts to maintain a stable and competitive investment environment.
He emphasized the importance of continued coordination between the relevant authorities in both countries to implement and follow up on the agreement's provisions, ensuring its intended objectives are achieved. This, he noted, will contribute to enhancing the competitiveness of both economies and unlocking new opportunities for high-value investments, especially in priority economic sectors.
Minister Al Hussaini also noted that the agreement serves as a launchpad for expanding strategic partnership between the two countries by encouraging reciprocal investment, facilitating capital flows, and providing an investment environment founded on transparency, fairness, and institutional integration. The agreement, he added, stands as one of the pillars underpinning both nations' vision for a diverse and competitive economy driven by innovation. (end)
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