Crown Princes of Bahrain and Saudi Arabia highlight positive strides in economic ties

 His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince, Deputy Supreme Commander and First Deputy Prime Minister and His Royal Highness Prince Mohammed bin Naif bin Abdul Aziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Interior of Saudi Arabia today held wide-ranging talks at King Saud Palace, in Riyadh.
At the start of the meeting, His Royal Highness expressed his deep appreciation and gratitude to the Saudi Crown Prince for his gracious hospitality and warm welcome, which reflects the strength of Bahrain-Saudi relations. In this regard, His Royal Highness highlighted the continued commitment to strengthening Bahrain-Saudi relations under the leadership of His Majesty King Hamad bin Isa Al Khalifa and the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud.
During the session, both sides acknowledged the positive impacts made from the increased level of bilateral cooperation over the past decade, and the significant achievements gained. Both sides then stressed the importance of working to build on these successes by establishing new mechanisms that would further enhance cooperation at all levels.
Key areas of economic cooperation were also discussed, as well as measures to simplify investor registration processes. During the meeting, it was agreed that a dedicated office and team would be established at the Ministry of Industry, Commerce and Tourism to fast-track applications for Saudi investors and to implement electronic and logistical support systems.
Both sides also emphasised the important role the private sector plays in encouraging economic development and noted the need to further support the business community by providing incentives and commercial facilities.
The streamlining of cross-border customs and passports operations, regarding the King Fahad Causeway in particular, was also discussed. The relevant entities in both Kingdoms were instructed to accelerate the implementation of the single passports link between both Kingdoms, to further simplify the crossing of trucks to allow for a smooth flow of traffic across the King Fahad Causeway.
Both sides also expressed their satisfaction with the high level of security cooperation between the two Kingdoms, particularly in regards to combatting terrorism and supporting regional and international efforts to eradicate it at its source. Ways to further strengthen security cooperation were also discussed particularly with regards to combatting extremism and defeating terrorism. 
Their Royal Highnesses also reviewed various regional and international developments during the session. Representative of His Majesty the King for Charity and Youth Affairs, President of the Supreme Council for Youth and Sports, President of the Bahrain Olympic Committee, His Highness Shaikh Nasser bin Hamad Al Khalifa, The Deputy Prime Minister, His Highness Shaikh Mohammed bin Mubarak Al Khalifa, and a number of senior ministers also attended the meeting.

Source: BNB