Manama: During the fourth meeting of the Bahrain-Saudi Coordination Council, a significant agreement was signed between Bahrain and Saudi Arabia to avoid double taxation. This meeting took place in the Kingdom of Bahrain and was chaired by His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister of Bahrain, along with His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister of Saudi Arabia.
According to Bahrain News Agency, the agreement was signed by Shaikh Salman bin Khalifa Al Khalifa, Minister of Finance and National Economy, representing Bahrain, and Khalid bin Abdulaziz Al Falih, Minister of Investment, representing Saudi Arabia. Shaikh Salman bin Khalifa emphasized the enduring ties between the two nations, citing them as a foundation for cooperation and joint efforts in various sectors. He acknowledged the growth and development of these ties under the leadership of His Majesty King Hamad bin Isa Al Khalifa and King Salman bin Abdulaziz Al Saud, the Custodian of the Two Holy Mosques.
Furthermore, Shaikh Salman bin Khalifa highlighted the role of the Bahrain-Saudi Coordination Council, led by HRH Prince Salman bin Hamad and HRH Prince Mohammed bin Salman, in bolstering strategic partnerships. The council aims to advance bilateral cooperation and explore further opportunities to meet shared goals and aspirations.
The agreement is focused on enhancing economic ties and fostering cooperation between Bahrain and Saudi Arabia. It marks an important step in strengthening economic, investment, and trade partnerships, contributing to a higher level of integration between the two countries.