Mohamed Hadi Al Hussaini, UAE Minister of State for Financial Affairs, recently met with Abdulla bin Adel Fakhro, Bahrain’s Minister of Industry and Commerce, to discuss joint cooperation in the financial sector and other areas of mutual interest between the two nations.
The meeting, held at the ministry‘s headquarters in Dubai, explored ways to leverage the UAE’s expertise in corporate credit rating and its role in fostering transparency, which encourages companies to expand and innovate, to boost Bahrain’s business ecosystem.
Supporting Bahrain’s private sector
Emphasizing the importance of sharing experiences between the two nations, Al Hussaini noted that the UAE has become a leading example in corporate credit rating. In addition, he highlighted how the UAE successfully boosted investor confidence in the business environment and propelled economic growth.
“It is our pleasure to share our experience with the brotherly Kingdom of Bahrain,” Al Hussaini added.
For his part, Fakhro commended the strong financial and economic ties between the UAE and Bahrain. In addition, he expressed the Kingdom’s keenness to benefit from the UAE’s experience and strengthen confidence in Bahrain’s private sector.
In 2022, non-oil bilateral trade between the two nations reached around $7 billion. The two countries have also witnessed greater cooperation in key sectors including trade, investment, education, culture, renewable energy, financial technology, tourism and health.
Read: UAE President Sheikh Mohamed meets Joe Biden, reaffirms commitment to US partnership
Sheikh Mohamed meets Prince Salman
Elsewhere, President His Highness Sheikh Mohamed bin Zayed Al Nahyan received Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of the Kingdom of Bahrain. During their meeting in Washington, the two leaders exchanged talks on the fraternal relations between the UAE and Bahrain. They also discussed joint efforts to enhance cooperation for the benefit of the two brotherly peoples.
The meeting saw the participation of Sheikh Abdullah bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs; Sheikh Hamdan bin Mohamed bin Zayed Al Nahyan, Deputy Chairman of the Presidential Court for Special Affairs, and Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the Presidential Court. Also in attendance were Khaldoun Khalifa Al Mubarak, Chairman of the Executive Affairs Authority; and Yousef Al Otaiba, Ambassador of the UAE to the U.S.
For more news on economy, click here.
