Oman, Bahrain keen to spur investments, expand trade

Muscat: A joint statement was issued by the Sultanate of Oman and the Kingdom of Bahrain on the visit of His Majesty Sultan Haitham bin Tarik to the Kingdom of Bahrain, reading as follows:

“In response to a cherished invitation from King Hamad bin Issa Al Khalifa of the Kingdom of Bahrain, His Majesty Sultan Haitham bin Tarik made a visit to the Kingdom of Bahrain from 24 to 25 October 2022.

In an atmosphere of amity and fraternity embodying the depth of historical relations between Oman and Bahrain and their peoples, an official session of talks was held by His Majesty Sultan Haitham bin Tarik, Sultan of Oman, and King Hamad bin Issa Al Khalifa of the Kingdom of Bahrain, in the presence of Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister.

The two sides explored the march of bilateral relations and areas of joint cooperation, with a view to upgrading them to more comprehensive levels to help realise the common goals and meet the aspirations of the two peoples.

The two sides also underscored the significance of developing joint cooperation in economic, commercial and investment fields to open wider vistas for the engagement of the private sector in the two countries, to exchange visits of trade delegations and augment commercial exchange in a manner that generates benefits for all.

In this context, emphasis was laid on the sincere efforts exerted by the Supreme Joint Ministerial Committee to consolidate ties of fraternity, develop cooperation in different spheres and elevate it into more comprehensive spheres to help meet the aspirations of the two countries’ peoples.

The two sides expressed satisfaction with the signing of agreements, memoranda of understanding and executive programmes in different fields, noting that this would contribute to the refurbishment of cooperation and the enhancement of fraternal relations between the two countries’ peoples.

Following the keenness of the two countries’ leaders to maximise the volume of investments and expand trade exchange, Oman Chamber of Commerce and Industry and Bahrain Chamber of Commerce and Industry inked documents to initiate the establishment of ‘Bahrain-Oman Investment Company’ to serve as a cornerstone for streamlined investment, a meeting point for investors and a springboard for more partnership aimed at generating fruitful business among private sector enterprises.

The two sides discussed the GCC march and the efforts made by member states to consolidate cooperation. They stressed the need to secure the solidarity of the GCC and ensure the collaboration of its countries and peoples so that they could confront all current challenges and realise the GCC economic unity.

The two sides expressed their aspiration for a positive outcome from 31st Arab Summit, to be held in Algeria early next month (November 2022), hoping that the summit would enhance joint Arab action, protect Arab national security and achieve the aspirations of Arab peoples for more security, growth and prosperity.

The two sides discussed the latest developments in the regional and international arenas. They underlined the importance of their joint cooperation and coordination within regional and international organisations and forums in a way that serves their mutual interests, enhances efforts to consolidate the pillars of regional security and stability and help maintain international peace and security.

The two sides also expressed their keenness to advance efforts aimed at consolidating the values of tolerance and peaceful coexistence among countries of the world in a manner that realises security, peace and prosperity for all peoples of the world in implementation of the principles of the UN Charter and the International Law.

They stressed the need to reach a fair and comprehensive solution to the Palestinian cause—a solution that achieves the legitimate rights of the Palestinian people for the establishment of a Palestinian state, with East Jerusalem as its capital, based on the Two-State Solution and related international resolutions and the Arab Peace Initiative.

The two sides also underscored the significance of pursuing the UN efforts to achieve a permanent and comprehensive truce in the Republic of Yemen and reach a political solution to the Yemeni crisis in accordance with approved international measures in a manner that ensures the security, stability and unity of Yemen and achieves the aspirations of Yemeni people for security, stability and development.

The two sides expressed their keenness on joint action to maintain regional security and foster cooperation towards protecting the freedom of navigation and international trade and combating terrorism, and terrorism financing and fanaticism.
His Majesty Sultan Haitham bin Tarik voiced his thanks and gratitude to King Hamad bin Issa Al Khalifa of Bahrain, for the hospitality accorded to him.

He wished the Kingdom of Bahrain further progress and prosperity under the wise leadership of King Hamad. His Majesty the Sultan also invited King Hamad to visit Oman, an invitation that was greatly welcomed by the King of Bahrain.”