His Majesty Sultan Haji Hassanal Bolkiah, Sultan of Brunei Darussalam, will tomorrow, Friday, start a two-day visit to the Kingdom of Bahrain.
The Sultan of Brunei will meet His Majesty King Hamad bin Isa Al Khalifa and His Royal Highness Prince Salman bin Hamad Al Khalifa, the Crown Prince and Prime Minister amd other senior officials in the Kingdom of Bahrain.
The visit comes within the framework of longstanding bilateral relations, which were further reinforce when diplomatic ties were established in 1988, when both countries open respective embassies, heralding wider cooperation.
The visit of the Sultan of Brunei Darussalam to the Kingdom of Bahrain builds on previous exchanged visits at the level of leaders and senior officials.
Indeed, this is the second time the Sultan of Brunei arrives in Bahrain, after paying his first visit to the Kingdom in 2004, following HM the King’s visit to the Sultanate of Brunei Darussalam in the same year.
The landmark visits ushered in a new era of bilateral projects that laid the foundations for the future relations and contributed to reinforcing joint ties.
In 2017, HM the King paid his second official visit to the Sultanate of Brunei Darussalam, during which he stressed the importance of building strong and solid relations with the countries of the Asian continent in general, and with the Sultanate of Brunei in particular.
The official visit of the Sultan of Brunei Darussalam to the Kingdom of Bahrain will further reinforce longstanding joint cooperation, bilateral meetings discussions.
The two countries intensified official contacts in recent years, especially at the economic, investment, commercial and logistical levels in light of the joint agreements and memoranda of understanding signed between the two countries.
Bilateral agreements and memoranda of understanding which entered into force include the following:
o Memorandum of Understanding on enhancing cooperation in the investment and financial sectors, particularly the banking and financial services sector - signed in 2003.
o Agreement on avoiding double taxation and the prevention of financial evasion with regard to taxes on income and capital signed in 2008 and its amending protocol signed in 2012.
o Agreement on air services, security of civil aviation and security of travel documents signed in 1993.
These agreements and memoranda not only provided the necessary legal framework to activate bilateral cooperation between the two countries, but also contributed to facilitating the implementation of the joint projects agreed upon by the Kingdom of Bahrain with the Sultanate of Brunei, which is considered one of the strongest and richest economies in the world.
The Government, chaired by His Royal Highness the Crown Prince and Prime Minister, showed commitment to provide the appropriate conditions to achieve broader economic cooperation and create an enabling environment to support this cooperation and serve mutual interests.
The Government’s drive aims to guarantee support for joint commercial initiatives, and protection for investments and the rights of investors on both sides, in addition to the provision of incentives.
The Kingdom of Bahrain and the Sultanate of Brunei Darussalam have common denominators that enhance the solidity of the already existing cooperation ground between them.
Apart from belonging to the same continent, they both boast a premium geo-strategic location, given that they are two maritime countries that adopt free trade as a pivotal source in raising the level of the national economy spurring growth.
The two countries also play an influential regional role, being engaged in many regional gatherings, such as the strategic dialogue between the GCC states and ASEAN countries, whose ministerial meetings were hosted by Manama in November 2013.
The two countries are also key members of the Organization of the Islamic Conference and the United Nations, in addition to the permanent participation of Brunei Darussalam "Manama Dialogue Forum", which is hosted annually by the Kingdom of Bahrain to discuss regional security affairs.
The two countries boast an established experience in spearheading development pathways which ranked them among advanced ranks in the world on the UN human development indicators.
The two countries look forward to the visit of the Sultan of Brunei Darussalam to the Kingdom of Bahrain as an opportunity which will contribute to further expanding joint ties, ushering broader horizons for bilateral cooperation and coordinating close stances on issues of common concern.
Source: Bahrain News Agency