Muscat: The Sultanate of Oman and the Kingdom of Bahrain are eager to enhance their partnerships, reflecting the strong relationship between the two nations.
The upcoming Oman-Bahrain meeting, scheduled for Tuesday at Al Alam Palace, will be led by His Majesty Sultan Haitham bin Tarik and King Hamad bin Issa Al Khalifa of Bahrain. This gathering symbolizes the historical and strategic cooperation, as well as the ongoing coordination between the two countries.
The relationship between Oman and Bahrain serves as a model within the Gulf Cooperation Council (GCC), with roots that extend back several decades. These ties are founded on deep mutual understanding and shared interests, dating back to the ancient trade of pearls and frankincense. This prosperous trade fostered connections between the peoples of both nations, as their ancestors navigated the seas, mastering these trades. The civilizations of Magan and Dilmun laid the groundwork for a robust and strategic partnership that has continued to strengthen over the years. The leadership of His Majesty Sultan Haitham bin Tarik and King Hamad bin Issa Al Khalifa heralds a promising future for both countries.
His Majesty’s visit to Bahrain in 2022, which resulted in the signing of several cooperation agreements, memoranda of understanding, and executive programs, underscored the commitment to transforming the long-standing relationship into tangible benefits.
According to statistics from the National Centre for Statistics and Information (NCSI), the trade volume between Oman and Bahrain reached approximately OMR247.1 million ($642.6 million) in 2023, but saw a decline to OMR131.1 million ($340.8 million) by the end of September 2024.
Statistics revealed that Omani exports to the Kingdom of Bahrain reached approximately OMR41.6 million ($108.3 million) in 2023, with projections indicating a decline to OMR29 million ($75.6 million) by the end of September 2024.
Regarding Bahraini investments in the Sultanate of Oman, the number of companies with Bahraini ownership saw a notable increase, rising to around 315 by the end of October 2024, up from 296 in 2023.
The total value of Bahraini investments amounted to OMR27.7 million ($72.1 million), representing 80.1 percent of the overall invested capital. Omani investments in Bahrain are primarily focused on the commercial and service sectors.
Sayyid Faisal bin Hareb Al Busaidi, the Ambassador of the Sultanate of Oman to Bahrain, stated to the Oman News Agency (ONA) that King Hamad bin Issa Al Khalifa will be a valued guest of Oman, its leadership, government, and citizens.
The ambassador emphasized that the King of Bahrain's historic visit to Oman reflects the depth of the strong bilateral relations and illustrates the nature and strength of the ties between the two leaderships and their peoples across various domains. He noted that these relations have been marked by progress and prosperity. The state visit is expected to usher in a new phase of genuine and productive cooperation in multiple areas. The ambassador affirmed that this visit will be a significant milestone in enhancing the fraternal relationship and bilateral collaboration, in line with the visionary outlook of both leaderships.
The ambassador articulated that this visit underscores the historical ties between Oman and Bahrain. It holds significant political value and enhances the relationship between the two nations, paving the way for broader collaboration that benefits both countries and their citizens. He emphasized that the visit aims to foster greater cooperation, integration, and unity across various sectors, aligning with the shared visions of Oman Vision 2040 and Bahrain Vision 2030.
He noted that this visit presents a valuable opportunity to discuss the challenges and threats facing the region. According to the ambassador, it reflects the commitment of both nations to work together in addressing regional and global issues, thereby promoting security and stability in the area.
Additionally, he stated that this visit is expected to bring prosperity and development to both countries and their populations. He highlighted that the objective is to enhance and support bilateral cooperation across political, economic, cultural, and other domains, in line with the aspirations of their peoples.
On the economic front, the ambassador remarked that the trade relationship between Oman and Bahrain is longstanding, tracing back to the historical ports of Samharam and Dilmun. He pointed out that Bahrain is one of Oman’s key trading partners.
The ambassador concluded by mentioning that the meeting between His Majesty the Sultan and the Bahraini leadership will focus on exploring avenues to strengthen bilateral relations and maintain the partnership between the two nations across various areas of cooperation, ultimately serving their mutual interests and benefits.
He emphasized that given the genuine intentions shared by both parties, this visit is expected to enhance collaboration and joint efforts in investment and economic sectors. He noted that the Sultanate of Oman ranks among Bahrain's most significant trading partners in import and export activities.
The ambassador highlighted that the royal visit of His Majesty Sultan Haitham bin Tarik to the Kingdom of Bahrain in October 2022 opened up extensive opportunities for collaborative efforts across various sectors, resulting in the signing of 24 agreements, memoranda of understanding, and executive programs between the Sultanate of Oman and the Kingdom of Bahrain. These agreements and programs encompassed areas such as security, maritime transport, freedom of navigation, and the development of port transport. Additionally, they included cooperation between the Bahrain Center for Strategic, International and Energy Studies and Sultan Qaboos University (SQU) in research and studies, the establishment of an Oman-Bahrain holding company for investment purposes, and the recognition of Oman's sovereignty over subscriber information in electronic services and cloud computing centers in Bahrain. Furthermore, Oman was granted the status of an accredited partner of the Goods At Consolidator (GAC) for Freight Services.
The Ambassador of the Sultanate of Oman to the Kingdom of Bahrain noted that the Oman-Bahrain Joint Committee has effectively strengthened bilateral cooperation through its regular meetings held between Muscat and Manama. The eight sessions of the Committee have resulted in the signing of several agreements and memoranda of understanding.
The ambassador concluded his remarks by highlighting that the Oman-Bahrain Friendship Association was formed to create a new connection of camaraderie, symbolizing the strong ties and fraternal relations between the peoples of the two nations. This association actively engages in a variety of youth, sports, cultural, and social initiatives by organizing exhibitions, forums, and workshops.
Juma Ahmed Al Kaabi, the Ambassador of the Kingdom of Bahrain to the Sultanate of Oman, stated that the "State Visit" of King Hamad bin Issa of Bahrain to Oman represents a manifestation of the longstanding bilateral relations that have been nurtured over decades, rooted in the shared bonds of brotherhood between the two countries and their peoples.
Al Kaabi characterized the relations between Bahrain and Oman as historically deep-rooted, established by the ancestors of both nations.
“These fraternal ties trace back to the ancient civilizations of Dilmun (Bahrain) and Magan (Oman), enriched by strategic, commercial, and cultural connections founded on friendship and kinship. Currently, our bilateral relations are flourishing, thanks to the royal guidance of His Majesty Sultan Haitham bin Tarik and His Majesty King Hamad bin Issa Al Khalifa, whose visionary leadership will continue to enhance and elevate our partnership,” he remarked.
Al Kaabi also informed the Oman News Agency (ONA) that both nations share a consensus on key foreign policy principles, including positive neutrality, good neighborliness, non-interference in the internal affairs of other countries, and the importance of dialogue.
He emphasized that Oman and Bahrain are united by shared values that promote balanced approaches to issues related to human coexistence and international cooperation. These values also encompass the pursuit of sustainable peace and development, the safeguarding of human rights and freedoms, and environmental protection, which plays a crucial role in enhancing the status of both nations on regional and global platforms.
The Bahraini ambassador noted that the State Visit reflects the profound nature of bilateral relations and is expected to create new opportunities for collaboration across various sectors, fostering integration. It is anticipated that this visit will result in the signing of agreements, memoranda of understanding, and executive programs in multiple areas, including museum affairs, education, food security, investment, industrial development, in-country value (ICV), media, health, endowments, labor, human resources development, insurance, social protection, agricultural production, and stock market activities.
He mentioned that the Omani-Bahraini Investment Company will be launched, with an estimated capital of OMR10 million. This company, established during His Majesty Sultan Haitham bin Tarik's visit to Bahrain, is expected to mark a new beginning for investment projects that will benefit both nations and their peoples.
Since the establishment of the Omani-Bahraini Joint Committee, eight agreements, 30 memoranda of understanding, and 10 executive programs have been signed across various fields, including diplomacy, economics, culture, social issues, sports, and the environment. He highlighted that the recommendations from the Bahraini-Omani Joint Committee are designed to enhance cooperation in all developmental areas, yielding positive results.
Al Kaabi stated that the Bahraini-Omani Business Council, which unites the chambers of commerce and industry from both nations, has initiated a study on potential collaboration across various economic, commercial, and investment sectors. The primary aim is to foster integration between Oman 2040 and Bahrain 2030.
He further noted that the trade volume between the two countries in 2023 was estimated to be between $850 million and $1.4 billion. Specifically, Bahraini exports to Oman were approximately $843 million, while Omani exports to Bahrain reached around $558 million during the same year.
Currently, there are 876 Bahraini firms operating in Oman, and about 270 Omani companies are active in Bahrain. Additionally, there are 1,362 Omani investors holding shares in companies listed on the Bahrain Stock Exchange, compared to 696 Bahraini investors with shares in companies on the Muscat Stock Exchange.
Al Kaabi also mentioned that the number of tourists traveling from Oman to Bahrain in 2023 was 57,000, while 47,000 tourists visited Oman from Bahrain.
He highlighted that Bahraini investments in Oman totaled 470 million dinars, equivalent to approximately $1.25 billion, whereas Omani direct investments in Bahrain were about 290 million dinars, or roughly $772 million.
In 2023, the number of economic activity licenses issued to Omani citizens in Bahrain was around 1,236, while the licenses granted to Bahraini citizens in Oman totaled approximately 1,140.
In 2024, it was reported that approximately 500 partnerships were established between entrepreneurs from both nations, highlighting a promising outlook and a strategic framework for exploring further investment opportunities between the two countries.
Regarding educational collaboration, Al Kaabi mentioned that an agreement was signed in 2024 between the University of Bahrain and Sultan Qaboos University, focusing on cooperation in research, expertise exchange, and educational programs, as well as the evaluation of school performance.
He noted that around 12 Omani universities have received accreditation in Bahrain, while eight Bahraini universities are accredited in Oman. Ongoing studies aim to expand the list of accredited institutions in both countries. Currently, there are 300 Omani students enrolled in Bahraini universities, and approximately 120 Bahraini students studying in Omani universities.
In the cultural domain, Al Kaabi highlighted that a memorandum of understanding (MoU) for cultural cooperation was signed in October 2022 and is now in the implementation phase.
He further elaborated that cultural initiatives have included the Bahraini Cultural Week, an exhibition of Bahraini-Omani fine arts, and visits for handicraft specialists. Plans are also in progress for an “Omani-Bahraini Identity Festival.”
Al Kaabi emphasized that both nations are working on a joint action plan aimed at promoting Omani and Bahraini culture, with a particular focus on tourism and investment.
The commitment of the two leaders to enhance the relationship between their nations fosters a spirit of collaboration and connection, maintains the richness of their historical bonds, and signals a promising future that will benefit both countries and their friendly populations.
