Bahrain and Oman sign deals on security and finance during Sultan Haitham's visit

An agreement was signed to establish the Bahrain-Oman Investment Company

Sultan Haitham bin Tariq, Sultan of Oman, during a gift exchange meeting at Al Alam Palace. Photo: UAE Presidential Court
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Oman and Bahrain signed a package of agreements covering security, energy and finance as the leaders of the Gulf states met in Manama.

The deals were signed by Oman’s Sultan Haitham and Bahrain’s King Hamad at the Sakhir Palace in Bahrain's capital, the Bahrain news agency reported on Tuesday.

The signing of the deals came as Sultan Haitham concluded a two-day official visit to Bahrain.

The leaders “affirmed their determination to continue developing joint co-operation in the economic, trade and investment fields,” the news agency reported.

This will “enhance and develop co-operation between the two states in the private sector, to increase trade that will benefit the two countries and peoples,” it said.

During the visit, an agreement was signed to establish the Bahrain-Oman Investment Company.

It will be a base “for investment and for investors to build upon in various fields in order to achieve greater partnerships and productive business between private sector institutions,” said the statement.

Sultan Haitham was joined by a number of senior Omani officials, including the foreign, interior and finance ministers.

Oman said Sultan Haitham's visit to Manama was “to consolidate the solid historical relations existing between the Sultanate of Oman and the Kingdom of Bahrain, and the keenness of their leaderships to strengthen them and take them to broader and more comprehensive horizons.”

On regional issues, the two leaders stressed “the need to work for Gulf Co-operation Council cohesion and affirm the unity of its countries and peoples in order to confront all current challenges.”

“They also underlined the importance of continuing efforts to achieve the aspirations of member states and their people towards greater solidarity, integration and joint action to achieve Gulf economic unity,” said the statement.

The leaders also discussed the upcoming Arab summit that will be held in Algeria in early November.

The summit will “promote joint Arab action, protect Arab national security, and achieve the aspirations of the Arab people for security, development and prosperity,” said the statement.

Oman and Bahrain's leaders “expressed their interest in joint action and coordination to maintain regional security and promote cooperation to protect freedom of navigation and international trade, combat terrorism and its financing, and combat extremist ideology.”

Sultan Haitham first visited Bahrain in 2020 after he assumed the post following the death of Sultan Qaboos.

Updated: October 25, 2022, 2:33 PM