Speaking at the meeting Al-Falih, stressed the prominent role played by the Bahraini-Saudi investment projects in the private sector, as an economic arm and an effective engine to support economic growth, noting the levels of investment cooperation between the Kingdom of Bahrain and the brotherly Kingdom of Saudi Arabia and the importance of continuing to strengthen it in order to achieve common aspirations. He revealed that the Kingdom of Saudi Arabia is working on many initiatives to achieve economic integration between the two countries, according to the directives of His Royal Highness the Crown Prince and Prime Minister Prince Muhammad bin Salman bin Abdulaziz Al Saud to allocate a specialized fund for investment in the Kingdom of Bahrain, which aims to invest about $5 billion, noting that this investment will be available to various economic sectors in the Saudi-Bahraini private sector.
For his part Nass expressed pride in the deep-rooted fraternal relation between Bahrain and Saudi Arabi, highlighting the growing economic cooperation between both sides. He noted that the volume of trade amounted to 3.9 billion U.S dollars in 2022, while Bahrain’s export to Saudi Arabia reached 3 billion US dollars. Nass pointed out to the fact that Saudi Arabia is Bahrain’s largest export market, and 7th largest import partner. He also touched upon the untapped opportunities and potentials, and vowed to exert more efforts to further boost trade and joint investments.
Similarly, Al-Ottaishan, underlined the importance of the meeting, which comes within the framework of enhancing and activating cooperation with the aim of developing trade and investment relations between Saudi Arabia and Bahrain.
The meeting went through items on the agenda, which included presentations on major development projects on both countries, reviewed the strategic directives in light of the economic scene, updates regarding streamlining trade, and a proposal to re-operate Khubar port for passengers and cargo.