The meeting, held in the presence of several board members of the Chamber, discussed enhancing economic and trade relations between the Kingdom of Bahrain and the Arab Republic of Egypt.
Speaking at the meeting, Abdelatty highlighted Egypt's commitment to expanding cooperation with Bahrain across various economic sectors, particularly in industry, renewable energy, and food security, to achieve mutual benefit. He praised the pivotal role of the Bahrain Chamber of Commerce and Industry in supporting investment and enhancing Bahrain's position as an attractive commercial hub both regionally and internationally.
The Egyptian minister underscored the critical role of chambers of commerce in fostering economic relations between countries and increasing trade exchange rates. He commended Bahrain’s investment and trade potential, as well as its safe and encouraging environment for foreign investments.
For his part, Nass reiterated the importance of strengthening economic partnerships with Egypt. He expressed Bahrain's eagerness to enhance joint cooperation, especially in vital sectors such as food security, industry, real estate investment, and renewable energy, thereby benefiting both countries and promoting sustainable development.
Nass conveyed the readiness of the Bahraini private sector to boost trade and investment exchanges with Egypt, particularly in aluminum, agricultural and industrial production, tourism, and other promising sectors. He acknowledged the dynamic growth of the Egyptian economy, viewing it as an opportunity for the private sectors in both countries to explore new investment avenues that would benefit the people of Bahrain and Egypt.
Nass also emphasized the necessity of increasing trade exchange among Arab countries, noting that intra-Arab trade currently accounts for only 12%—a modest figure compared to the available potential. He highlighted the urgent need to develop Arab legislation, policies, and laws through the Arab League to facilitate trade movement and exchanges, which are key to enhancing economic cooperation among Arab nations.
Similarly, First vice-Chairman Khalid Najibi, stated that the current level of trade exchange between Bahrain and Egypt is below potential, despite the abundant opportunities available. He pointed out Bahrain's rich financial history as a leading regional center in banking and investment. He also noted that the Integrated Industrial Partnership for Sustainable Economic Development initiative serves as a strategic foundation for enhancing investment flow and broadening regional economic cooperation, thus supporting industrial integration and sustainable development.
For his part, Second vice-Chairman Mohammed Al Kooheji, affirmed that enhancing the economic partnership between Bahrain and Egypt requires adopting flexible policies and launching stimulating initiatives from both the public and private sectors. This would foster an attractive investment environment that supports trade growth and opens new opportunities for entrepreneurs and investors in both countries.
AE