Egypt, Bahrain bolster economic ties at Integrated Industrial Partnership meeting

Ahram Online , Wednesday 10 Jan 2024

Egypt's Minister of Trade and Industry Ahmed Samir held a meeting with his Bahraini counterpart Abdullah bin Adel Fakhro to discuss bolstering economic relations on the sidelines of the fourth meeting of the higher committee for Integrated Industrial Partnership for Sustainable Economic Development.

The Higher Committee for Integrated Industrial Partnership holds meetings in Cairo.
The Higher Committee for Integrated Industrial Partnership holds meetings in Cairo.



The summit, held from 10 to 11 January, focused on strengthening trade relations and fostering industrial integration between Egypt and Bahrain.

Minister Samir highlighted strategies to overcome trade barriers and leverage each nation's unique strengths to access the African and Gulf markets.

He noted that Egypt's Ministry of Trade and Industry has identified 152 investment opportunities within the industrial sector to bolster domestic industries, cater to local demands, and expand exports to foreign markets. 

Samir added that his ministry will send detailed investment incentives and a curated list of potential prospects to the Bahraini side. 

Discussions also included proposals for Bahraini industrial experts to visit Egyptian industrial zones for insights into effective establishment and management practices. 

Additionally, deliberations explored the possibility of opening Egyptian bank branches in Bahrain to enhance bilateral trade.

The trade exchange between Egypt and Bahrain reached $379 million from January to September 2023, Samir revealed. 

Key traded goods included vegetables, fruits, furniture, food preparations, aromatic materials, iron, aluminum, and related products, he added.

In response, Minister Fakhro reiterated Bahrain's commitment to fostering joint economic cooperation with Egypt across commercial, industrial, and investment sectors. 

He emphasized the collaborative potential among member states within the Integrated Industrial Partnership, foreseeing proposed projects that meet collective member states’ needs and access global markets, particularly in Africa.

Egypt and Bahrain have strengthened their economic cooperation in recent months. In November 2023, the two countries agreed on 15 cooperation initiatives and 13 MoUs on areas including consumer protection, fighting monopoly, and industrial partnership 

The Integrated Industrial Partnership aims to deepen collaboration within member states’ private sectors, comprising Bahrain, the UAE, Egypt, Jordan, and Morocco, translating partnerships into tangible investment projects that serve domestic and international markets.

Since its launch in Abu Dhabi in May 2022, the partnership between the four Arab countries has seen the signing of multi-billion deals to boost sustainable growth and explore opportunities for joint investments, especially in priority sectors. 

Short link: